Dock Street Asset Management Inc. Trims Stock Position in S&P Global Inc. (NYSE:SPGI)

Dock Street Asset Management Inc. trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 30,834 shares of the business services provider’s stock after selling 395 shares during the quarter. S&P Global makes up approximately 1.8% of Dock Street Asset Management Inc.’s holdings, making the stock its 17th biggest holding. Dock Street Asset Management Inc.’s holdings in S&P Global were worth $15,356,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of S&P Global by 3.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,868,375 shares of the business services provider’s stock worth $4,581,580,000 after acquiring an additional 292,436 shares during the last quarter. Geode Capital Management LLC raised its position in S&P Global by 1.8% in the third quarter. Geode Capital Management LLC now owns 6,473,774 shares of the business services provider’s stock valued at $3,332,016,000 after purchasing an additional 113,146 shares during the period. FMR LLC lifted its stake in S&P Global by 6.6% during the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock worth $3,081,830,000 after purchasing an additional 369,598 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of S&P Global by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,713,617 shares of the business services provider’s stock worth $1,401,909,000 after buying an additional 28,458 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of S&P Global by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,697 shares of the business services provider’s stock valued at $1,000,536,000 after buying an additional 26,300 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup started coverage on S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of S&P Global from $620.00 to $617.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. UBS Group upped their target price on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Oppenheimer decreased their price target on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Robert W. Baird upped their price objective on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $584.54.

S&P Global Stock Up 0.8 %

S&P Global stock opened at $518.52 on Friday. The stock’s fifty day moving average is $505.92 and its two-hundred day moving average is $505.32. The stock has a market cap of $160.90 billion, a PE ratio of 45.76, a P/E/G ratio of 2.40 and a beta of 1.20. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94.

S&P Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be paid a $0.96 dividend. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Wednesday, February 26th. S&P Global’s dividend payout ratio is currently 32.13%.

About S&P Global

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.