Exencial Wealth Advisors LLC Sells 10,556 Shares of S&P Global Inc. (NYSE:SPGI)

Key Points

• Exencial Wealth Advisors LLC reduced its holdings in S&P Global Inc. by 25.1% during the first quarter, owning 31,507 shares valued at approximately $16.01 million after selling 10,556 shares.
• Analysts have raised their price targets for S&P Global, with JPMorgan increasing its target from $575 to $625, and the stock currently holds a consensus rating of "Moderate Buy" with an average price target of $611.69.
• S&P Global reported strong quarterly earnings, with an EPS of $4.43 surpassing estimates and a revenue increase of 5.8% year-over-year, highlighting its growth potential.

Exencial Wealth Advisors LLC trimmed its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 25.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,507 shares of the business services provider's stock after selling 10,556 shares during the quarter. Exencial Wealth Advisors LLC's holdings in S&P Global were worth $16,009,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of S&P Global by 0.4% in the first quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider's stock worth $15,130,711,000 after purchasing an additional 108,729 shares during the period. Goldman Sachs Group Inc. grew its holdings in S&P Global by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,762,187 shares of the business services provider's stock valued at $1,403,468,000 after buying an additional 97,324 shares during the last quarter. MGB Wealth Management LLC increased its position in S&P Global by 43.9% in the 1st quarter. MGB Wealth Management LLC now owns 721 shares of the business services provider's stock worth $366,000 after buying an additional 220 shares during the period. Intrust Bank NA lifted its holdings in shares of S&P Global by 7.1% during the first quarter. Intrust Bank NA now owns 5,806 shares of the business services provider's stock worth $2,950,000 after buying an additional 385 shares during the last quarter. Finally, Bouchey Financial Group Ltd boosted its position in shares of S&P Global by 4.1% in the first quarter. Bouchey Financial Group Ltd now owns 615 shares of the business services provider's stock valued at $312,000 after acquiring an additional 24 shares during the period. 87.17% of the stock is owned by institutional investors.

S&P Global Price Performance

S&P Global stock traded down $2.14 on Friday, reaching $556.99. The company's stock had a trading volume of 820,714 shares, compared to its average volume of 1,293,752. The business's fifty day moving average price is $524.54 and its 200 day moving average price is $510.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.98. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $566.42. The company has a market cap of $170.05 billion, a price-to-earnings ratio of 42.85, a PEG ratio of 3.01 and a beta of 1.19.

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

S&P Global Dividend Announcement

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

Analyst Ratings Changes

SPGI has been the subject of several research analyst reports. Oppenheimer upped their target price on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. upped their price objective on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Robert W. Baird decreased their target price on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Bank of America started coverage on S&P Global in a research report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, S&P Global presently has an average rating of "Moderate Buy" and a consensus target price of $611.69.

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.