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

Truist Financial Corp trimmed its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing 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 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. Minot DeBlois Advisors LLC bought a new stake in shares of S&P Global during the fourth quarter worth $25,000. Anderson Financial Strategies LLC bought a new stake in shares of S&P Global during the fourth quarter worth $27,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of S&P Global during the first quarter worth $28,000. Hazlett Burt & Watson Inc. lifted its position in shares of 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 purchasing an additional 38 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in shares of S&P Global during the first quarter worth $33,000. 87.17% of the stock is currently owned by institutional investors.

S&P Global Stock Up 0.2%

Shares of SPGI stock traded up $0.99 during trading hours on Thursday, reaching $529.72. 703,283 shares of the company's stock were exchanged, compared to its average volume of 1,231,354. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $545.39. The stock has a market cap of $162.47 billion, a PE ratio of 41.61, a PEG ratio of 2.56 and a beta of 1.19. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The stock's fifty day moving average price is $514.62 and its two-hundred day moving average price is $505.11.

S&P Global (NYSE:SPGI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, beating analysts' consensus estimates of $4.23 by $0.14. The firm had revenue of $3.78 billion for 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%. S&P Global's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.01 earnings per share. Research analysts predict that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 0.72%. S&P Global's dividend payout ratio is currently 30.16%.

Insider Buying and Selling

In other S&P Global news, EVP Sally Moore sold 500 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $2,619,016.33. This represents a 8.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on SPGI. Morgan Stanley lifted their price objective on S&P Global from $587.00 to $595.00 and gave the company an "overweight" rating in a report on Monday. Argus upgraded S&P Global to a "strong-buy" rating in a report on Friday, May 16th. 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. Robert W. Baird decreased 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. Finally, Stifel Nicolaus decreased their price objective on S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, S&P Global currently has an average rating of "Moderate Buy" and a consensus price target of $596.79.

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.