Independence Bank of Kentucky Buys 7,848 Shares of S&P Global Inc. (NYSE:SPGI)

Independence Bank of Kentucky raised its stake in S&P Global Inc. (NYSE:SPGI) by 363.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,006 shares of the business services provider’s stock after purchasing an additional 7,848 shares during the quarter. S&P Global accounts for 0.8% of Independence Bank of Kentucky’s portfolio, making the stock its 26th biggest position. Independence Bank of Kentucky’s holdings in S&P Global were worth $4,983,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SPGI. Wellington Management Group LLP lifted its holdings in 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 buying an additional 292,436 shares during the period. Geode Capital Management LLC raised its holdings in shares of S&P Global by 1.8% during 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 acquiring an additional 113,146 shares in the last quarter. FMR LLC lifted its stake in S&P Global by 6.6% in the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock worth $3,081,830,000 after acquiring an additional 369,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in S&P Global by 1.1% during the 3rd 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 valued at $1,401,909,000 after purchasing an additional 28,458 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in S&P Global by 1.4% during the 3rd 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 purchasing an additional 26,300 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Down 0.4 %

SPGI stock opened at $521.44 on Friday. The company has a market cap of $161.80 billion, a price-to-earnings ratio of 46.02, a P/E/G ratio of 2.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50-day moving average is $506.40 and its two-hundred day moving average is $504.48. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $533.29.

S&P Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th will be issued a $0.96 dividend. This is an increase from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.74%. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SPGI shares. Robert W. Baird lifted their target price on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley raised their price objective on shares of S&P Global from $570.00 to $595.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Citigroup started coverage on S&P Global in a report on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. 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 note on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price objective on 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. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and an average price target of $584.54.

S&P Global Company 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.