Truist Financial Corp Lowers Stock Position in S&P Global Inc. (NYSE:SPGI)

Truist Financial Corp decreased its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,415 shares of the business services provider's stock after selling 3,427 shares during the period. Truist Financial Corp's holdings in S&P Global were worth $45,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in S&P Global by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 6,589,982 shares of the business services provider's stock valued at $3,273,264,000 after purchasing an additional 116,208 shares during the period. Norges Bank acquired a new stake in S&P Global in the fourth quarter valued at $1,725,084,000. Northern Trust Corp raised its holdings in S&P Global by 19.1% in the fourth quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock valued at $1,631,568,000 after acquiring an additional 525,347 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of S&P Global by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,071,407 shares of the business services provider's stock worth $1,529,653,000 after purchasing an additional 357,790 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of S&P Global by 11.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,184,312 shares of the business services provider's stock worth $1,087,853,000 after purchasing an additional 224,294 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Stock Performance

Shares of SPGI traded down $3.87 during trading hours on Tuesday, hitting $526.31. The stock had a trading volume of 890,958 shares, compared to its average volume of 1,232,491. The stock has a fifty day moving average price of $513.36 and a 200 day moving average price of $504.79. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. 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 market capitalization of $161.42 billion, a PE ratio of 41.34, a PEG ratio of 2.58 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $3.78 billion for 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 company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.01 earnings per share. Analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.73%. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price target on shares of S&P Global from $587.00 to $595.00 and gave the company an "overweight" rating in a report on Monday. JPMorgan Chase & Co. dropped their price objective on S&P Global from $618.00 to $565.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird lowered their price target on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company raised their price objective on shares of S&P Global from $627.00 to $632.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Stifel Nicolaus reduced their target price on S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $596.79.

Insider Buying and Selling

In other S&P Global news, EVP Sally Moore sold 500 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the transaction, the executive vice president directly owned 5,131 shares in the company, valued at $2,619,016.33. This represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company's stock.

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.