Canvas Wealth Advisors LLC Purchases New Position in S&P Global Inc. (NYSE:SPGI)

Canvas Wealth Advisors LLC acquired a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 622 shares of the business services provider's stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SPGI. Minot DeBlois Advisors LLC purchased a new stake in S&P Global in the 4th quarter valued at $25,000. Anderson Financial Strategies LLC purchased a new stake in shares of S&P Global in the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in shares of S&P Global in the fourth quarter valued at about $31,000. Alpine Bank Wealth Management bought a new position in shares of S&P Global during the first quarter valued at about $33,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in S&P Global by 131.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock worth $32,000 after purchasing an additional 38 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Down 1.0%

SPGI opened at $515.88 on Friday. The company has a market cap of $158.22 billion, a PE ratio of 40.52, a price-to-earnings-growth ratio of 2.54 and a beta of 1.20. The company has a 50 day moving average of $505.28 and a 200 day moving average of $503.52. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.23 by $0.14. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the company posted $4.01 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

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 dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

Insider Buying and Selling at S&P Global

In related news, EVP Sally Moore sold 500 shares of the company's stock in a transaction that occurred 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 now directly owns 5,131 shares in the company, valued at approximately $2,619,016.33. This represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group increased their price objective 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. Wells Fargo & Company lifted their price target on S&P Global from $607.00 to $627.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Argus raised S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their price target on shares of S&P Global from $618.00 to $565.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Bank of America assumed 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 target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $592.71.

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.

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