Summit Global Investments Purchases 6,575 Shares of S&P Global Inc. (NYSE:SPGI)

Summit Global Investments grew its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 590.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,689 shares of the business services provider's stock after purchasing an additional 6,575 shares during the quarter. Summit Global Investments' holdings in S&P Global were worth $3,907,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SPGI. Minot DeBlois Advisors LLC bought a new stake in S&P Global during the fourth quarter worth $25,000. Anderson Financial Strategies LLC bought a new stake in S&P Global during the fourth quarter worth $27,000. Human Investing LLC bought a new stake in S&P Global during the fourth quarter worth $30,000. Noble Wealth Management PBC bought a new stake in S&P Global during the fourth quarter worth $31,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in S&P Global by 131.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock worth $32,000 after acquiring an additional 38 shares during the period. Institutional investors own 87.17% of the company's stock.

S&P Global Price Performance

S&P Global stock traded down $1.42 during midday trading on Friday, hitting $512.68. 2,142,178 shares of the company's stock were exchanged, compared to its average volume of 1,221,536. S&P Global Inc. has a 52-week low of $424.82 and a 52-week high of $545.39. The stock has a 50-day moving average price of $492.04 and a two-hundred day moving average price of $503.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $157.24 billion, a P/E ratio of 41.51, a PEG ratio of 2.41 and a beta of 1.23.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.23 by $0.14. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. The business had revenue of $3.78 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the previous year, the business earned $4.01 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Wednesday, May 28th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.75%. The ex-dividend date is Wednesday, May 28th. S&P Global's payout ratio is 30.16%.

Insider Buying and Selling

In other S&P Global news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the sale, the executive vice president now owns 5,131 shares of the company's stock, valued at $2,619,016.33. The trade was a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Robert W. Baird decreased their target price on S&P Global from $616.00 to $589.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Mizuho assumed coverage on S&P Global in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $599.00 target price for the company. Bank of America started coverage on S&P Global in a research report on Thursday, April 10th. They issued a "buy" rating and a $600.00 target price for the company. BMO Capital Markets lifted their price target on S&P Global from $576.00 to $590.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their price target on S&P Global from $595.00 to $600.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $592.71.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.