M&T Bank Corp Increases Stock Holdings in S&P Global Inc. (NYSE:SPGI)

M&T Bank Corp grew its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,425 shares of the business services provider's stock after purchasing an additional 3,033 shares during the period. M&T Bank Corp's holdings in S&P Global were worth $29,686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of SPGI. Geode Capital Management LLC lifted its stake in S&P Global by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 6,589,982 shares of the business services provider's stock worth $3,273,264,000 after acquiring an additional 116,208 shares in the last quarter. Norges Bank acquired a new position in S&P Global during the 4th quarter worth about $1,725,084,000. Northern Trust Corp lifted its stake 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in S&P Global by 13.2% during 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, Nuveen Asset Management LLC lifted its stake in S&P Global by 11.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,184,312 shares of the business services provider's stock worth $1,087,853,000 after acquiring an additional 224,294 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

SPGI has been the topic of several research reports. Oppenheimer increased their target price on S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Morgan Stanley increased their target price on S&P Global from $587.00 to $595.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Bank of America began coverage on S&P Global in a research report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price target on the stock. Wells Fargo & Company increased their price target on S&P Global from $627.00 to $632.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. reduced their price target on S&P Global from $618.00 to $565.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $596.79.

S&P Global Price Performance

SPGI stock traded down $2.78 during midday trading on Friday, hitting $527.05. 816,683 shares of the stock were exchanged, compared to its average volume of 1,228,601. The stock's 50-day moving average price is $515.64 and its 200-day moving average price is $505.48. The stock has a market cap of $161.65 billion, a price-to-earnings ratio of 41.40, a PEG ratio of 2.56 and a beta of 1.19. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $545.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.90.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.14. The firm had revenue of $3.78 billion during the quarter, compared to analysts' expectations of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. S&P Global's revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.01 earnings per share. Research analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The business 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. This represents a $3.84 annualized dividend and a yield of 0.73%. The ex-dividend date is Tuesday, August 26th. S&P Global's payout ratio is 30.16%.

Insiders Place Their Bets

In other S&P Global news, EVP Sally Moore sold 500 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the transaction, the executive vice president owned 5,131 shares of the company's stock, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.10% of the company's stock.

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.