Teacher Retirement System of Texas Sells 48,624 Shares of S&P Global Inc. (NYSE:SPGI)

Teacher Retirement System of Texas lessened its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 26.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,930 shares of the business services provider's stock after selling 48,624 shares during the period. Teacher Retirement System of Texas' holdings in S&P Global were worth $69,574,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Minot DeBlois Advisors LLC purchased a new position in shares of S&P Global during the 4th quarter worth $25,000. Anderson Financial Strategies LLC bought a new position in S&P Global in the fourth quarter worth about $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of S&P Global in the first quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. increased 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 valued at $32,000 after purchasing an additional 38 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in S&P Global during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPGI. Wells Fargo & Company lifted their target price on shares of S&P Global from $627.00 to $632.00 and gave the company an "overweight" rating in a research note on Thursday. UBS Group upped their target price on shares of S&P Global from $555.00 to $575.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Robert W. Baird lowered their target price on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. 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. Finally, JPMorgan Chase & Co. cut their target price on shares of S&P Global from $618.00 to $565.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $593.93.

S&P Global Stock Performance

Shares of S&P Global stock traded up $5.38 during trading hours on Friday, reaching $531.02. 578,304 shares of the stock traded hands, compared to its average volume of 1,233,475. The company has a 50 day moving average price of $511.33 and a 200 day moving average price of $504.09. The firm has a market capitalization of $162.86 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 2.56 and a beta of 1.19. S&P Global Inc. has a one year low of $427.14 and a one year high of $545.39. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.23 by $0.14. The business had revenue of $3.78 billion during 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 business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.01 EPS. On average, equities research analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently disclosed 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. 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 0.72%. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

Insider Activity

In related news, EVP Sally Moore sold 500 shares of the business'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 transaction of $255,215.00. Following the completion of the transaction, the executive vice president directly owned 5,131 shares in the company, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.10% of the company's stock.

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.