Cary Street Partners Financial LLC Sells 651 Shares of S&P Global Inc. (NYSE:SPGI)

Key Points

• Cary Street Partners Financial LLC has reduced its stake in S&P Global Inc. by 20.1%, selling 651 shares during the first quarter, resulting in 2,592 remaining shares valued at approximately $1.317 million.
• S&P Global reported earnings of $4.43 per share for the latest quarter, surpassing analyst expectations and showing a 5.8% increase in revenue compared to the same period last year.
• The company has announced a quarterly dividend of $0.96, with a payout ratio of 29.54%, slated for payment on September 10th to investors of record by August 26th.

Cary Street Partners Financial LLC reduced its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 20.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,592 shares of the business services provider's stock after selling 651 shares during the period. Cary Street Partners Financial LLC's holdings in S&P Global were worth $1,317,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SPGI. Brighton Jones LLC lifted its position in shares of S&P Global by 4.7% in the fourth quarter. Brighton Jones LLC now owns 3,176 shares of the business services provider's stock valued at $1,582,000 after acquiring an additional 143 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of S&P Global by 3.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 74,479 shares of the business services provider's stock valued at $37,093,000 after purchasing an additional 2,413 shares during the period. GHE LLC increased its holdings in shares of S&P Global by 2.1% during the 4th quarter. GHE LLC now owns 13,504 shares of the business services provider's stock worth $6,725,000 after buying an additional 274 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in S&P Global during the fourth quarter worth $52,902,000. Finally, DRW Securities LLC increased its position in shares of S&P Global by 161.7% during the 4th quarter. DRW Securities LLC now owns 2,580 shares of the business services provider's stock worth $1,284,000 after purchasing an additional 1,594 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

S&P Global Stock Down 0.7%

Shares of S&P Global stock opened at $558.79 on Friday. The business's 50 day simple moving average is $524.54 and its 200-day simple moving average is $510.73. The stock has a market capitalization of $170.60 billion, a price-to-earnings ratio of 42.98, a PEG ratio of 3.01 and a beta of 1.19. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $566.42.

S&P Global (NYSE:SPGI - Get Free Report) last released its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm posted $4.04 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio is 29.54%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group increased their target price on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Robert W. Baird dropped their price target on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Bank of America initiated coverage on S&P Global in a report on Thursday, April 10th. They set a "buy" rating and a $600.00 price objective on the stock. Finally, Barclays upped their target price on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $611.69.

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.

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