State of Michigan Retirement System Sells 700 Shares of S&P Global Inc. (NYSE:SPGI)

State of Michigan Retirement System lowered its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,453 shares of the business services provider's stock after selling 700 shares during the period. State of Michigan Retirement System's holdings in S&P Global were worth $43,419,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SPGI. Minot DeBlois Advisors LLC bought a new stake in S&P Global in the fourth quarter valued at approximately $25,000. Anderson Financial Strategies LLC bought a new stake in S&P Global in the 4th quarter valued at $27,000. Smallwood Wealth Investment Management LLC bought a new stake in S&P Global in the 1st quarter valued at $28,000. Alpine Bank Wealth Management acquired a new stake in S&P Global during the 1st quarter valued at $33,000. Finally, Hazlett Burt & Watson Inc. boosted its position in 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 period. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Price Performance

NYSE SPGI traded down $2.78 during midday trading on Friday, hitting $527.05. The company had a trading volume of 816,683 shares, compared to its average volume of 1,229,109. The firm has a 50-day moving average price of $515.23 and a 200-day moving average price of $505.32. The company has a market capitalization of $161.65 billion, a PE ratio of 41.40, a P/E/G ratio of 2.58 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. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $545.39.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly 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. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm earned $4.01 earnings per share. S&P Global's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company 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. This represents a $3.84 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's payout ratio is presently 30.16%.

Insider Buying and Selling at S&P Global

In related news, EVP Sally Moore sold 500 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction 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 trade represents a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group lifted their target price on shares of S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Tuesday. Bank of America initiated coverage on shares of S&P Global in a report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price target on the stock. Morgan Stanley raised their price objective on shares of S&P Global from $587.00 to $595.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. cut 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 research report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.