Alta Capital Management LLC Has $40.47 Million Position in S&P Global Inc. $SPGI

Alta Capital Management LLC lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 4.6% during the third quarter, Holdings Channel reports. The fund owned 83,144 shares of the business services provider’s stock after selling 3,993 shares during the period. S&P Global makes up 2.3% of Alta Capital Management LLC’s holdings, making the stock its 17th largest holding. Alta Capital Management LLC’s holdings in S&P Global were worth $40,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new stake in shares of S&P Global during the 2nd quarter worth about $27,000. J.Safra Asset Management Corp bought a new position in S&P Global in the 3rd quarter valued at about $29,000. Spurstone Advisory Services LLC acquired a new stake in S&P Global during the second quarter worth approximately $34,000. Howard Hughes Medical Institute bought a new stake in shares of S&P Global during the second quarter worth approximately $36,000. Finally, Solstein Capital LLC bought a new stake in shares of S&P Global during the second quarter worth approximately $38,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPGI has been the topic of a number of recent research reports. Morgan Stanley increased their target price on S&P Global from $620.00 to $627.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. decreased their price target on shares of S&P Global from $635.00 to $615.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. BMO Capital Markets set a $546.00 price target on shares of S&P Global in a research report on Friday, November 14th. Stifel Nicolaus lowered their target price on shares of S&P Global from $625.00 to $599.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of S&P Global in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $615.64.

S&P Global Price Performance

Shares of SPGI stock opened at $467.38 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.34. The company has a market cap of $141.52 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.24 and a beta of 1.20. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The business has a fifty day simple moving average of $518.83 and a 200 day simple moving average of $516.94.

S&P Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be given a $0.97 dividend. This is an increase from S&P Global’s previous quarterly dividend of $0.96. This represents a $3.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, February 25th. S&P Global’s dividend payout ratio (DPR) is 27.93%.

S&P Global Company Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.