Pettee Investors Inc. Decreases Position in S&P Global Inc. (NYSE:SPGI)

Pettee Investors Inc. cut its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 30.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,807 shares of the business services provider's stock after selling 2,068 shares during the period. S&P Global accounts for about 1.5% of Pettee Investors Inc.'s portfolio, making the stock its 23rd biggest position. Pettee Investors Inc.'s holdings in S&P Global were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new position in S&P Global in the fourth quarter worth approximately $25,000. Anderson Financial Strategies LLC bought a new position in S&P Global in the fourth quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC bought a new position in S&P Global in the first quarter worth approximately $28,000. Hazlett Burt & Watson Inc. grew its stake in S&P Global by 131.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock worth $32,000 after purchasing an additional 38 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in S&P Global in the first quarter worth approximately $33,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Performance

Shares of SPGI stock opened at $524.21 on Thursday. The firm has a market capitalization of $160.78 billion, a price-to-earnings ratio of 41.18, a price-to-earnings-growth ratio of 2.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average of $516.89 and a 200 day moving average of $505.93. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $545.39.

S&P Global (NYSE:SPGI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.14. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $4.01 EPS. As a group, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be paid 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 0.73%. S&P Global's payout ratio is currently 30.16%.

Insider Buying and Selling at S&P Global

In other S&P Global news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction dated 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 in the company, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their position. 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.

Analyst Upgrades and Downgrades

SPGI has been the topic of several research analyst reports. Argus raised S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. Morgan Stanley increased their price objective 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 initiated coverage on S&P Global in a research report on Thursday, April 10th. They set a "buy" rating and a $600.00 target price on the stock. Oppenheimer increased their target price on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their target price 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 research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, S&P Global has a consensus rating of "Moderate Buy" and a consensus price target of $596.79.

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.

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