Glenview Trust Co Sells 3,732 Shares of S&P Global Inc. $SPGI

Key Points

• Glenview Trust Co. reduced its S&P Global stake by 26.6% in the third quarter, selling 3,732 shares and retaining 10,316 shares valued at approximately $4.1 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly bullish, with 18 Buy ratings and two Holds. S&P Global has a “Moderate Buy” consensus rating and an average price target of $522.24.
• S&P Global exceeded quarterly expectations, reporting $4.58 in adjusted EPS and $3.68 billion in revenue, while revenue increased 6.8% year over year. The company also declared a quarterly dividend of $0.97 per share, representing an annualized yield of 0.8%.

Glenview Trust Co lessened its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 26.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,316 shares of the business services provider's stock after selling 3,732 shares during the quarter. Glenview Trust Co's holdings in S&P Global were worth $4,069,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SPGI. Bank of America Corp DE acquired a new stake in shares of S&P Global during the second quarter worth about $865,892,000. EdgePoint Investment Group Inc. purchased a new stake in shares of S&P Global in the 1st quarter valued at $702,911,000. Soroban Capital Partners LP boosted its holdings in shares of S&P Global by 260.3% in the 1st quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider's stock valued at $718,247,000 after acquiring an additional 1,219,990 shares during the last quarter. Veritas Asset Management LLP acquired a new stake in shares of S&P Global in the second quarter worth $338,274,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of S&P Global during the second quarter worth $164,700,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on SPGI shares. JPMorgan Chase & Co. increased their price target on S&P Global from $520.00 to $550.00 and gave the stock an "overweight" rating in a research report on Wednesday. Mizuho lowered their price objective on S&P Global from $554.00 to $531.00 and set an "outperform" rating on the stock in a research report on Monday, October 5th. Evercore reaffirmed an "outperform" rating on shares of S&P Global in a report on Wednesday. Citigroup increased their price target on shares of S&P Global from $500.00 to $520.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Barclays decreased their price objective on shares of S&P Global from $555.00 to $553.00 and set an "overweight" rating for the company in a research report on Wednesday, July 29th. Eighteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, S&P Global has an average rating of "Moderate Buy" and an average price target of $522.24.

S&P Global Stock Up 1.3%

NYSE SPGI opened at $466.46 on Friday. The business has a fifty day moving average price of $421.62 and a 200 day moving average price of $431.64. S&P Global Inc. has a one year low of $381.61 and a one year high of $552.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 0.74. The company has a market cap of $135.23 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.21 and a beta of 1.09.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The business services provider reported $4.58 earnings per share for the quarter, beating analysts' consensus estimates of $4.43 by $0.15. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.64 billion. S&P Global had a return on equity of 19.46% and a net margin of 32.21%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.73 EPS. Research analysts anticipate that S&P Global Inc. will post 17.89 EPS for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 25th. S&P Global's dividend payout ratio (DPR) is 23.14%.

S&P Global Profile

S&P Global NYSE: SPGI is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.

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