S&P Global Inc. (NYSE:SPGI) Stock Position Raised by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lifted its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,146 shares of the business services provider's stock after buying an additional 777 shares during the period. Penobscot Investment Management Company Inc.'s holdings in S&P Global were worth $9,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPGI. Minot DeBlois Advisors LLC bought a new position in S&P Global in the 4th quarter worth about $25,000. Anderson Financial Strategies LLC bought a new position in S&P Global in the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new position in S&P Global in the 4th quarter worth about $31,000. Hazlett Burt & Watson Inc. grew its position in S&P Global by 131.0% in the 4th 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 position in S&P Global in the 1st quarter worth about $33,000. Institutional investors own 87.17% of the company's stock.

Insider Activity at S&P Global

In related news, EVP Sally Moore sold 500 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were 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 now owns 5,131 shares in the company, valued at approximately $2,619,016.33. This represents a 8.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.10% of the company's stock.

S&P Global Stock Down 0.3%

SPGI stock opened at $521.29 on Thursday. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. The firm has a market cap of $159.88 billion, a PE ratio of 40.95, a P/E/G ratio of 2.55 and a beta of 1.20. The firm has a 50 day simple moving average of $504.21 and a 200 day simple moving average of $503.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90.

S&P Global (NYSE:SPGI - Get Free Report) last released its earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.23 by $0.14. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business earned $4.01 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.74%. S&P Global's dividend payout ratio is presently 30.16%.

Analysts Set New Price Targets

SPGI has been the subject of several recent analyst reports. 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 target price for the company. Stifel Nicolaus decreased their target price on shares of 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. JPMorgan Chase & Co. decreased their price objective on shares of S&P Global from $618.00 to $565.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Mizuho initiated coverage on S&P Global in a report on Wednesday, March 12th. They set an "outperform" rating and a $599.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on S&P Global from $607.00 to $627.00 and gave the stock an "overweight" rating 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $592.71.

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.

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