Petros Family Wealth LLC Increases Stake in S&P Global Inc. (NYSE:SPGI)

Petros Family Wealth LLC increased its holdings in S&P Global Inc. (NYSE:SPGI) by 12.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,050 shares of the business services provider’s stock after purchasing an additional 116 shares during the period. Petros Family Wealth LLC’s holdings in S&P Global were worth $534,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of S&P Global by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 6,589,982 shares of the business services provider’s stock valued at $3,273,264,000 after purchasing an additional 116,208 shares in the last quarter. Norges Bank purchased a new stake in S&P Global during the 4th quarter valued at $1,725,084,000. Northern Trust Corp boosted its position in S&P Global by 19.1% during the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider’s stock valued at $1,631,568,000 after buying an additional 525,347 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in S&P Global by 13.2% during the 4th 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 valued at $1,529,653,000 after buying an additional 357,790 shares during the period. Finally, Amundi boosted its position in S&P Global by 6.6% during the 4th quarter. Amundi now owns 2,345,377 shares of the business services provider’s stock valued at $1,162,979,000 after buying an additional 145,434 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Bank of America assumed coverage on shares of S&P Global in a research report on Thursday, April 10th. They set a “buy” rating and a $600.00 price target for the company. Robert W. Baird dropped their price target on shares of S&P Global from $616.00 to $589.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Argus raised shares of S&P Global to a “strong-buy” rating in a research report on Friday, May 16th. Finally, Mizuho assumed coverage on shares of S&P Global in a research report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $592.71.

S&P Global Stock Up 2.1%

Shares of S&P Global stock opened at $515.04 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day moving average of $502.03 and a 200 day moving average of $503.24. The firm has a market cap of $157.96 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 2.46 and a beta of 1.20. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $545.39.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.14. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.72 billion. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. S&P Global’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $4.01 EPS. As a group, sell-side analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Wednesday, May 28th were paid a $0.96 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $3.84 annualized dividend and a dividend yield of 0.75%. S&P Global’s payout ratio is 30.16%.

Insider Buying and Selling

In other S&P Global news, EVP Sally Moore sold 500 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by company insiders.

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.