Cary Street Partners Financial LLC Takes $1.62 Million Position in S&P Global Inc. (NYSE:SPGI)

Cary Street Partners Financial LLC purchased a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,243 shares of the business services provider's stock, valued at approximately $1,615,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in S&P Global by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 6,589,982 shares of the business services provider's stock worth $3,273,264,000 after buying an additional 116,208 shares during the period. Norges Bank bought a new position in shares of S&P Global in the fourth quarter worth $1,725,084,000. Northern Trust Corp grew its position in shares of S&P Global by 19.1% in the fourth quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock valued at $1,631,568,000 after purchasing an additional 525,347 shares in the last quarter. Amundi raised its stake in shares of S&P Global by 6.6% during the 4th quarter. Amundi now owns 2,345,377 shares of the business services provider's stock valued at $1,162,979,000 after purchasing an additional 145,434 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in S&P Global by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,999,467 shares of the business services provider's stock worth $995,795,000 after purchasing an additional 62,770 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on SPGI. Morgan Stanley increased their target price on shares of S&P Global from $595.00 to $600.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Bank of America started coverage on S&P Global in a research report on Thursday, April 10th. They set a "buy" rating and a $600.00 target price for the company. UBS Group raised their price target on S&P Global from $555.00 to $575.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. BMO Capital Markets boosted their price objective on S&P Global from $576.00 to $590.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus lowered their target price on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $592.71.

S&P Global Trading Down 0.0 %

NYSE SPGI traded down $0.17 during trading on Friday, hitting $507.44. The company had a trading volume of 941,827 shares, compared to its average volume of 1,223,689. The company's fifty day moving average is $486.24 and its 200-day moving average is $501.53. S&P Global Inc. has a one year low of $419.49 and a one year high of $545.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a market cap of $155.63 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

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

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Wednesday, May 28th. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

Insider Transactions at S&P Global

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

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.