Cary Street Partners Investment Advisory LLC Raises Position in S&P Global Inc. (NYSE:SPGI)

Key Points

• Cary Street Partners Investment Advisory LLC increased its stake in S&P Global by 34.7%, owning 2,513 shares valued at $1,277,000 as of its latest SEC filing.
• S&P Global reported earnings per share of $4.43, surpassing analyst expectations, with revenue of $3.76 billion representing a 5.8% increase year-over-year.
• The company announced a quarterly dividend of $0.96 per share, with a payout ratio of 29.54%, scheduled for distribution on September 10th.

Cary Street Partners Investment Advisory LLC boosted its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 34.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,513 shares of the business services provider's stock after purchasing an additional 648 shares during the period. Cary Street Partners Investment Advisory LLC's holdings in S&P Global were worth $1,277,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SPGI. Costello Asset Management INC purchased a new stake in shares of S&P Global during the first quarter worth $26,000. New Age Alpha Advisors LLC boosted its stake in S&P Global by 469.1% in the 1st quarter. New Age Alpha Advisors LLC now owns 13,464 shares of the business services provider's stock worth $6,841,000 after purchasing an additional 11,098 shares during the period. Thoroughbred Financial Services LLC grew its holdings in S&P Global by 20.7% during the 1st quarter. Thoroughbred Financial Services LLC now owns 2,420 shares of the business services provider's stock valued at $1,229,000 after buying an additional 415 shares in the last quarter. Wills Financial Group LLC purchased a new position in S&P Global during the 1st quarter valued at about $4,624,000. Finally, Westfield Capital Management Co. LP increased its position in shares of S&P Global by 0.6% during the first quarter. Westfield Capital Management Co. LP now owns 151,399 shares of the business services provider's stock valued at $76,926,000 after buying an additional 925 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPGI shares. BMO Capital Markets increased their target price on shares of S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Argus raised shares of S&P Global to a "strong-buy" rating in a report on Friday, May 16th. UBS Group lifted their price objective on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Barclays boosted their target price on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley raised their price target on S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two equities 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 company's stock. Based on data from MarketBeat, S&P Global has a consensus rating of "Moderate Buy" and a consensus price target of $611.69.

S&P Global Trading Down 0.7%

Shares of SPGI traded down $3.77 during trading hours on Thursday, hitting $558.79. The company had a trading volume of 1,084,879 shares, compared to its average volume of 1,162,194. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $566.42. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock's 50 day moving average price is $524.54 and its 200 day moving average price is $510.73. The firm has a market cap of $170.60 billion, a P/E ratio of 42.98, a P/E/G ratio of 3.01 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the company earned $4.04 EPS. S&P Global's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts predict that S&P Global Inc. will post 17.11 EPS 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. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.7%. S&P Global's dividend payout ratio is presently 29.54%.

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.