Thrive Wealth Management LLC Trims Stake in S&P Global Inc. (NYSE:SPGI)

Thrive Wealth Management LLC lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 7.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,705 shares of the business services provider’s stock after selling 229 shares during the period. Thrive Wealth Management LLC’s holdings in S&P Global were worth $1,375,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Minot DeBlois Advisors LLC acquired a new position in S&P Global during the 4th quarter worth about $25,000. Anderson Financial Strategies LLC acquired a new stake in shares of S&P Global in the fourth quarter valued at $27,000. Human Investing LLC acquired a new stake in shares of S&P Global in the fourth quarter valued at $30,000. Noble Wealth Management PBC purchased a new position in S&P Global in the fourth quarter valued at $31,000. Finally, Hazlett Burt & Watson Inc. grew its stake in S&P Global by 131.0% during 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 in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPGI. Wall Street Zen downgraded S&P Global from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Bank of America initiated coverage on shares of S&P Global in a research note on Thursday, April 10th. They set a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company raised their target price on shares of S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. BMO Capital Markets boosted their price target on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of S&P Global from $618.00 to $565.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target of $592.71.

S&P Global Stock Up 0.4%

Shares of NYSE:SPGI opened at $514.20 on Thursday. The firm has a 50 day simple moving average of $492.47 and a 200-day simple moving average of $504.04. S&P Global Inc. has a twelve month low of $425.49 and a twelve month high of $545.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $157.71 billion, a PE ratio of 41.64, a P/E/G ratio of 2.41 and a beta of 1.23.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.23 by $0.14. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the business earned $4.01 EPS. S&P Global’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, May 28th. S&P Global’s dividend payout ratio (DPR) is currently 30.16%.

Insider Activity

In other news, EVP Sally Moore sold 500 shares of the firm’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 transaction of $255,215.00. Following the transaction, the executive vice president now directly owns 5,131 shares in the company, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The sale 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.

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.