S&P Global Inc. (NYSE:SPGI) Stock Holdings Increased by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. increased its stake in S&P Global Inc. by 26.7% in Q1, bringing their total shares to 4,973 and valued at approximately $2.53 million.
• Multiple analysts have issued ratings on S&P Global, with a consensus rating of "Moderate Buy" and a target price averaging $601.07.
• The company recently declared a quarterly dividend of $0.96 per share, representing an annualized yield of 0.72% with a payout ratio of 30.16%.

Pinnacle Associates Ltd. increased its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 26.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,973 shares of the business services provider's stock after acquiring an additional 1,048 shares during the period. Pinnacle Associates Ltd.'s holdings in S&P Global were worth $2,527,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new position in S&P Global during the fourth quarter worth $25,000. Anderson Financial Strategies LLC purchased a new position in S&P Global during the fourth quarter worth $27,000. Smallwood Wealth Investment Management LLC purchased a new position in S&P Global during the first quarter worth $28,000. CBIZ Investment Advisory Services LLC increased its position in S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after buying an additional 31 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in S&P Global by 131.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock worth $32,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insider Activity

In other news, EVP Sally Moore sold 500 shares of the business's stock in a transaction on 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 owned 5,131 shares of the company's stock, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company's stock.

S&P Global Stock Performance

SPGI stock traded down $0.46 during midday trading on Wednesday, reaching $530.33. The company had a trading volume of 1,263,670 shares, compared to its average volume of 853,609. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $519.19 and a 200 day moving average price of $508.18. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $545.39. The firm has a market capitalization of $162.65 billion, a PE ratio of 41.66, a P/E/G ratio of 2.56 and a beta of 1.19.

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 business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The business'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. Analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.72%. S&P Global's dividend payout ratio is presently 30.16%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SPGI. Bank of America assumed coverage on S&P Global in a report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price target for the company. JPMorgan Chase & Co. increased their price target on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Oppenheimer increased their price target 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. Robert W. Baird reduced their price target on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company increased their target price on S&P Global from $627.00 to $632.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Two investment 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $601.07.

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.