Bank of New York Mellon Corp Sells 38,001 Shares of S&P Global Inc. (NYSE:SPGI)

Bank of New York Mellon Corp decreased its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,034,194 shares of the business services provider's stock after selling 38,001 shares during the period. Bank of New York Mellon Corp owned about 0.65% of S&P Global worth $1,033,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPGI. Minot DeBlois Advisors LLC acquired a new stake in shares of S&P Global during the 4th quarter valued at $25,000. Anderson Financial Strategies LLC acquired a new stake in shares of S&P Global during the 4th quarter valued at $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of S&P Global during the 1st quarter valued at $28,000. Hazlett Burt & Watson Inc. boosted its stake in shares of S&P Global by 131.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock valued at $32,000 after buying an additional 38 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in shares of S&P Global during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Insider Buying and Selling

In related news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction on 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 owned 5,131 shares in the company, valued at $2,619,016.33. This trade represents a 8.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.10% of the stock is owned by company insiders.

S&P Global Stock Up 1.0%

Shares of SPGI stock traded up $5.38 on Friday, hitting $531.02. The company's stock had a trading volume of 578,304 shares, compared to its average volume of 1,235,308. The stock has a market capitalization of $162.86 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 2.58 and a beta of 1.19. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $545.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The firm's fifty day moving average price is $512.34 and its 200-day moving average price is $504.40.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.23 by $0.14. The firm had revenue of $3.78 billion for 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%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.01 EPS. Research analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be issued a $0.96 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.72%. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SPGI. Mizuho began coverage on shares of 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. Argus raised shares of S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. Robert W. Baird decreased their target price on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus decreased their target price on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, UBS Group lifted their target price on shares of S&P Global from $555.00 to $575.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Two equities research 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $593.93.

S&P Global 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.