W.H. Cornerstone Investments Inc. Sells 1,025 Shares of S&P Global Inc. (NYSE:SPGI)

Key Points

• W.H. Cornerstone Investments Inc. reduced its stake in S&P Global Inc. by 51.6% in the first quarter, owning 962 shares worth approximately $489,000 after selling 1,025 shares.
• Analysts have raised price targets for S&P Global, with UBS Group increasing their target from $575 to $620, and overall ratings remaining positive with thirteen buy ratings.
• S&P Global reported earnings of $4.43 per share, surpassing estimates, and announced a quarterly dividend of $0.96 per share for shareholders recorded by August 26th.

W.H. Cornerstone Investments Inc. decreased its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 51.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 962 shares of the business services provider's stock after selling 1,025 shares during the period. W.H. Cornerstone Investments Inc.'s holdings in S&P Global were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of SPGI. Westfield Capital Management Co. LP lifted its holdings in shares of S&P Global by 0.6% during the first quarter. Westfield Capital Management Co. LP now owns 151,399 shares of the business services provider's stock worth $76,926,000 after purchasing an additional 925 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of S&P Global by 3.1% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 4,947 shares of the business services provider's stock valued at $2,514,000 after acquiring an additional 150 shares during the period. ING Groep NV boosted its position in shares of S&P Global by 33.3% during the 1st quarter. ING Groep NV now owns 19,129 shares of the business services provider's stock worth $9,719,000 after purchasing an additional 4,780 shares in the last quarter. Commonwealth Equity Services LLC grew its position in S&P Global by 0.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 51,833 shares of the business services provider's stock valued at $26,336,000 after purchasing an additional 353 shares during the period. Finally, Argent Trust Co lifted its position in S&P Global by 3.6% in the 1st quarter. Argent Trust Co now owns 5,912 shares of the business services provider's stock valued at $3,004,000 after acquiring an additional 205 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Trading Up 0.0%

Shares of SPGI traded up $0.01 during mid-day trading on Tuesday, hitting $563.03. 1,462,586 shares of the company's stock traded hands, compared to its average volume of 1,103,098. The business's 50-day moving average price is $521.70 and its 200-day moving average price is $509.60. The firm has a market capitalization of $171.89 billion, a P/E ratio of 43.31, a PEG ratio of 3.01 and a beta of 1.19. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $566.13.

S&P Global (NYSE:SPGI - Get Free Report) last released its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm earned $4.04 EPS. The company's 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 fiscal year.

S&P Global Announces Dividend

The company also recently declared 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 of this dividend is Tuesday, August 26th. S&P Global's dividend payout ratio is presently 29.54%.

Analysts Set New Price Targets

A number of analysts recently commented on SPGI shares. UBS Group increased their price target on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Wells Fargo & Company lifted their target price on S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a report on Friday. Bank of America started 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, Oppenheimer upped their target price on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.