PNC Financial Services Group Inc. Reduces Stake in S&P Global Inc. $SPGI

Key Points

• PNC Financial Services trimmed its stake in S&P Global by 1.8% in the fourth quarter, selling 11,787 shares and ending with 659,015 shares valued at about $344.4 million.
• Insider buying was notable, with Director Robert Edward Jr. Moritz and CEO Catherine R. Clay purchasing shares in recent transactions; insiders bought a total of 5,974 shares last quarter.
• Wall Street remains mostly bullish on SPGI, with 16 Buy ratings and a consensus price target of $550, even after some firms lowered their targets. The stock also beat quarterly earnings expectations, reporting $4.97 EPS on $4.17 billion in revenue.

PNC Financial Services Group Inc. reduced its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 659,015 shares of the business services provider's stock after selling 11,787 shares during the period. PNC Financial Services Group Inc. owned about 0.22% of S&P Global worth $344,395,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SPGI. Joseph Group Capital Management purchased a new position in S&P Global during the fourth quarter worth $29,000. North Star Investment Management Corp. increased its position in S&P Global by 134.6% during the fourth quarter. North Star Investment Management Corp. now owns 61 shares of the business services provider's stock worth $32,000 after buying an additional 35 shares in the last quarter. Palisade Asset Management LLC purchased a new position in S&P Global during the third quarter worth $36,000. Ameriflex Group Inc. increased its position in S&P Global by 171.4% during the third quarter. Ameriflex Group Inc. now owns 76 shares of the business services provider's stock worth $37,000 after buying an additional 48 shares in the last quarter. Finally, Ares Financial Consulting LLC purchased a new position in S&P Global during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insider Activity

In other S&P Global news, Director Robert Edward Jr. Moritz acquired 1,152 shares of the stock in a transaction dated Thursday, April 30th. The stock was acquired at an average price of $434.03 per share, with a total value of $500,002.56. Following the completion of the transaction, the director directly owned 1,152 shares in the company, valued at approximately $500,002.56. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Catherine R. Clay acquired 2,500 shares of the stock in a transaction dated Friday, May 1st. The stock was acquired at an average cost of $431.39 per share, with a total value of $1,078,475.00. Following the transaction, the chief executive officer owned 2,500 shares of the company's stock, valued at approximately $1,078,475. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 5,974 shares of company stock valued at $2,576,775 over the last quarter. Company insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

SPGI has been the subject of several recent research reports. Evercore dropped their price target on S&P Global from $625.00 to $560.00 and set an "outperform" rating for the company in a research report on Thursday, April 16th. Barclays reissued an "overweight" rating and set a $565.00 price target on shares of S&P Global in a research report on Monday, February 23rd. JPMorgan Chase & Co. raised their price target on S&P Global from $530.00 to $550.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Morgan Stanley raised their price target on S&P Global from $556.00 to $557.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus dropped their price target on S&P Global from $599.00 to $489.00 and set a "buy" rating for the company in a research report on Wednesday, February 11th. Sixteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $550.00.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $409.72 on Wednesday. The company has a market cap of $121.28 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.78 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $579.05. The business has a fifty day simple moving average of $426.41 and a 200-day simple moving average of $468.14.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $4.97 EPS for the quarter, beating analysts' consensus estimates of $4.82 by $0.15. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.08 billion. S&P Global had a return on equity of 17.26% and a net margin of 30.37%.The business's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.37 earnings per share. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. Equities research analysts forecast that S&P Global Inc. will post 19.59 EPS for the current year.

S&P Global Company Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.

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