S&P Global Inc. (NYSE:SPGI) Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. reduced its stake in S&P Global Inc. by 1.3%, owning approximately $342.14 million worth of the company at the end of the first quarter.
• Institutional investors collectively own 87.17% of S&P Global's stock, indicating strong institutional confidence in the company.
• S&P Global recently announced a quarterly dividend of $0.96, representing a 0.7% yield and a 30.16% dividend payout ratio.

PNC Financial Services Group Inc. trimmed its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 673,364 shares of the business services provider's stock after selling 8,793 shares during the period. PNC Financial Services Group Inc. owned 0.22% of S&P Global worth $342,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirabaud & Cie SA grew its position in S&P Global by 1.4% in the 1st quarter. Mirabaud & Cie SA now owns 5,958 shares of the business services provider's stock valued at $3,027,000 after buying an additional 84 shares during the last quarter. UNIVEST FINANCIAL Corp lifted its stake in shares of S&P Global by 0.7% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 33,996 shares of the business services provider's stock worth $17,274,000 after acquiring an additional 226 shares during the period. Baker Avenue Asset Management LP boosted its holdings in shares of S&P Global by 6.7% in the first quarter. Baker Avenue Asset Management LP now owns 2,562 shares of the business services provider's stock valued at $1,302,000 after acquiring an additional 160 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of S&P Global by 31.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,285 shares of the business services provider's stock worth $2,177,000 after acquiring an additional 1,015 shares during the period. Finally, Harbour Investments Inc. increased its stake in shares of S&P Global by 8.4% during the first quarter. Harbour Investments Inc. now owns 324 shares of the business services provider's stock worth $164,000 after acquiring an additional 25 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SPGI shares. Bank of America initiated coverage on shares of 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. Wells Fargo & Company lifted their price target on S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Barclays increased their price objective on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price objective on shares of S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $611.69.

S&P Global Trading Up 3.1%

Shares of SPGI stock traded up $16.89 on Monday, reaching $562.55. 1,714,224 shares of the stock were exchanged, compared to its average volume of 1,296,904. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $172.53 billion, a P/E ratio of 43.27, a price-to-earnings-growth ratio of 2.92 and a beta of 1.19. The firm has a 50 day moving average of $520.65 and a two-hundred day moving average of $509.18. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $563.02.

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

S&P Global Announces Dividend

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

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.