Allspring Global Investments Holdings LLC Reduces Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Allspring Global Investments Holdings LLC lessened its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 37.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,468 shares of the business services provider's stock after selling 151,420 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of S&P Global worth $130,999,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SPGI. Minot DeBlois Advisors LLC purchased a new position in shares of S&P Global in the fourth quarter valued at approximately $25,000. Anderson Financial Strategies LLC acquired a new position in shares of S&P Global in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new position in S&P Global in the 4th quarter valued at approximately $31,000. Alpine Bank Wealth Management acquired a new position in shares of S&P Global in the first quarter worth $33,000. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of S&P Global by 131.0% in 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 in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insiders Place Their Bets

In other S&P Global news, EVP Sally Moore sold 500 shares of the 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 completion of the transaction, the executive vice president now directly owns 5,131 shares of the company's stock, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SPGI has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on S&P Global from $618.00 to $565.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. UBS Group lifted their price target on shares of S&P Global from $555.00 to $575.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Bank of America began coverage on shares of S&P Global in a research report on Thursday, April 10th. They set a "buy" rating and a $600.00 price objective for the company. Stifel Nicolaus decreased their price target on S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Mizuho began coverage on S&P Global in a research note on Wednesday, March 12th. They set an "outperform" rating and a $599.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $592.71.

S&P Global Stock Performance

SPGI traded up $3.21 on Friday, hitting $518.23. 2,251,581 shares of the company traded hands, compared to its average volume of 1,237,935. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $545.39. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $506.39 and a 200-day moving average of $503.56. The stock has a market capitalization of $158.94 billion, a PE ratio of 40.71, a PEG ratio of 2.51 and a beta of 1.20.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.14. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. S&P Global's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.01 EPS. Sell-side analysts anticipate 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, September 10th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is 30.16%.

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.