Ridgecrest Wealth Partners LLC Has $2.19 Million Holdings in S&P Global Inc. (NYSE:SPGI)

Ridgecrest Wealth Partners LLC trimmed its stake in S&P Global Inc. (NYSE:SPGI) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,145 shares of the business services provider’s stock after selling 82 shares during the period. S&P Global comprises about 1.3% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 17th biggest position. Ridgecrest Wealth Partners LLC’s holdings in S&P Global were worth $2,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SPGI. Wellington Management Group LLP boosted its stake in S&P Global by 13.2% during the third quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock worth $2,769,787,000 after buying an additional 881,215 shares in the last quarter. Morgan Stanley lifted its holdings in shares of S&P Global by 8.2% during the 3rd quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock worth $2,067,807,000 after acquiring an additional 428,737 shares during the period. Capital International Investors boosted its position in shares of S&P Global by 12.6% during the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after acquiring an additional 616,732 shares in the last quarter. Norges Bank bought a new stake in S&P Global in the fourth quarter valued at about $1,652,862,000. Finally, Capital World Investors raised its position in S&P Global by 0.5% in the fourth quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock worth $1,241,706,000 after purchasing an additional 12,644 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Down 0.6 %

NYSE:SPGI opened at $446.00 on Friday. The firm has a market capitalization of $139.55 billion, a P/E ratio of 50.00, a P/E/G ratio of 2.48 and a beta of 1.15. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $461.16. The stock’s fifty day simple moving average is $431.45 and its 200-day simple moving average is $431.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.33. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.39 billion. Equities research analysts expect that S&P Global Inc. will post 14.1 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s dividend payout ratio is currently 40.81%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Stifel Nicolaus lifted their price objective on S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a report on Friday, April 26th. Erste Group Bank restated a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Oppenheimer lifted their price target on shares of S&P Global from $480.00 to $482.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Barclays upped their price target on shares of S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $467.89.

S&P Global Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.