Central Pacific Bank Trust Division Sells 1,860 Shares of S&P Global Inc. (NYSE:SPGI)

Central Pacific Bank Trust Division lessened its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 77.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 531 shares of the business services provider's stock after selling 1,860 shares during the period. Central Pacific Bank Trust Division's holdings in S&P Global were worth $270,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SPGI. Geode Capital Management LLC lifted its holdings in shares of S&P Global by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 6,589,982 shares of the business services provider's stock valued at $3,273,264,000 after purchasing an additional 116,208 shares in the last quarter. Norges Bank bought a new position in S&P Global during the 4th quarter valued at $1,725,084,000. Northern Trust Corp boosted its holdings in S&P Global by 19.1% during the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock worth $1,631,568,000 after acquiring an additional 525,347 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of S&P Global by 13.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,071,407 shares of the business services provider's stock worth $1,529,653,000 after acquiring an additional 357,790 shares in the last quarter. Finally, Amundi grew its stake in shares of S&P Global by 6.6% in the 4th quarter. Amundi now owns 2,345,377 shares of the business services provider's stock worth $1,162,979,000 after acquiring an additional 145,434 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SPGI shares. Wells Fargo & Company boosted their price target on shares of S&P Global from $607.00 to $627.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Morgan Stanley boosted their target price on S&P Global from $595.00 to $600.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Argus raised S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. 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 target on the stock. Finally, Evercore ISI upped their price objective on S&P Global from $599.00 to $608.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $592.71.

S&P Global Stock Performance

NYSE SPGI traded up $0.64 during trading on Monday, hitting $513.50. 915,909 shares of the company's stock traded hands, compared to its average volume of 1,220,306. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $157.49 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 2.41 and a beta of 1.23. S&P Global Inc. has a 12-month low of $424.82 and a 12-month high of $545.39. The business has a 50 day moving average of $492.04 and a 200-day moving average of $503.84.

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 EPS for the quarter, topping the consensus estimate of $4.23 by $0.14. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the firm earned $4.01 EPS. S&P Global's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Wednesday, May 28th. S&P Global's payout ratio is presently 30.16%.

Insider Activity

In other S&P Global news, EVP Sally Moore sold 500 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the sale, the executive vice president now owns 5,131 shares of the company's stock, valued at $2,619,016.33. This trade represents a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.10% of the company's stock.

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.