US Bancorp DE Has $132.84 Million Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Key Points

• US Bancorp DE reduced its holdings in S&P Global Inc. by 2.5%, selling 6,699 shares and now owning approximately 261,437 shares worth about $132.8 million.
• In the first quarter, several investment firms, including Empirical Financial Services and Sound View Wealth Advisors, increased their positions in S&P Global, indicating strong institutional interest with 87.17% of shares held by institutional investors.
• S&P Global reported strong earnings with an EPS of $4.43, surpassing estimates and showing a 5.8% year-over-year revenue growth, alongside a declaration of a quarterly dividend of $0.96 per share.

US Bancorp DE lowered its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,437 shares of the business services provider's stock after selling 6,699 shares during the quarter. US Bancorp DE owned about 0.09% of S&P Global worth $132,838,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of S&P Global by 19.1% during the fourth quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock worth $1,631,568,000 after buying an additional 525,347 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 buying an additional 357,790 shares during the last quarter. Nuveen Asset Management LLC lifted 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 buying an additional 224,294 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of S&P Global by 60,982.3% during the first quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock worth $1,086,877,000 after buying an additional 2,135,599 shares during the last quarter. Finally, Valley Forge Capital Management LP lifted its holdings in shares of S&P Global by 2.9% during the fourth quarter. Valley Forge Capital Management LP now owns 1,755,098 shares of the business services provider's stock worth $874,091,000 after buying an additional 49,200 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

S&P Global Trading Up 2.2%

S&P Global stock traded up $11.79 during mid-day trading on Monday, hitting $557.45. The stock had a trading volume of 447,133 shares, compared to its average volume of 1,287,982. The stock has a 50-day simple moving average of $520.65 and a two-hundred day simple moving average of $509.18. The stock has a market capitalization of $170.97 billion, a PE ratio of 42.88, a P/E/G ratio of 2.92 and a beta of 1.19. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $558.86. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.25. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. The business had revenue of $3.76 billion for the quarter, compared to analysts' expectations of $3.65 billion. During the same quarter last year, the business earned $4.04 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's payout ratio is 29.54%.

Analyst Ratings Changes

A number of brokerages have recently commented on SPGI. Stifel Nicolaus cut their price target 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. Robert W. Baird dropped their price objective on 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. JPMorgan Chase & Co. increased their price objective on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Bank of America initiated coverage on S&P Global in a research note on Thursday, April 10th. They set a "buy" rating and a $600.00 price objective for the company. Finally, Barclays increased their price objective on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $611.69.

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.