S&P Global Inc. (NYSE:SPGI) Position Lessened by Truist Financial Corp

Truist Financial Corp lowered its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,415 shares of the business services provider's stock after selling 3,427 shares during the quarter. Truist Financial Corp's holdings in S&P Global were worth $45,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new position in shares of S&P Global in the fourth quarter worth about $25,000. Anderson Financial Strategies LLC acquired a new position in shares of S&P Global in the fourth quarter worth about $27,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of S&P Global in the first quarter worth about $28,000. Hazlett Burt & Watson Inc. lifted its stake in shares of 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 acquiring an additional 38 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of S&P Global in the first quarter worth about $33,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

SPGI has been the topic of several recent analyst reports. Stifel Nicolaus cut their price target on S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird lowered their price objective on S&P Global from $616.00 to $589.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Bank of America began coverage on S&P Global in a report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price objective for the company. Argus raised S&P Global to a "strong-buy" rating in a report on Friday, May 16th. Finally, Oppenheimer boosted their price objective on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $596.79.

S&P Global Price Performance

Shares of SPGI traded up $2.24 during trading hours on Wednesday, hitting $528.63. 736,705 shares of the company were exchanged, compared to its average volume of 1,233,466. The company has a market capitalization of $162.13 billion, a PE ratio of 41.53, a PEG ratio of 2.56 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 firm has a fifty day simple moving average of $514.62 and a 200-day simple moving average of $505.11. S&P Global Inc. has a one year low of $427.14 and a one year high of $545.39.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 earnings per share 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 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 company's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $4.01 EPS. As a group, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be given a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.73%. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

Insider Activity at S&P Global

In other 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 value of $255,215.00. Following the completion of the sale, the executive vice president owned 5,131 shares of the company's stock, valued at $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.10% of the stock is currently owned by company insiders.

S&P Global Company 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.