S&P Global Inc. $SPGI Position Cut by Eastern Bank

Eastern Bank trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,724 shares of the business services provider’s stock after selling 55 shares during the quarter. Eastern Bank’s holdings in S&P Global were worth $27,273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cheviot Value Management LLC bought a new position in S&P Global in the 1st quarter worth approximately $26,000. Costello Asset Management INC bought a new position in S&P Global during the 1st quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group bought a new position in S&P Global during the 2nd quarter valued at $26,000. Smallwood Wealth Investment Management LLC bought a new position in S&P Global during the 1st quarter valued at $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in S&P Global by 103.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPGI has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&P Global in a research note on Wednesday. Oppenheimer increased their price target on S&P Global from $567.00 to $592.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company increased their price target on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Seaport Res Ptn raised S&P Global to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, UBS Group increased their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to data from MarketBeat.com, S&P Global currently has a consensus rating of “Buy” and a consensus price target of $614.85.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $486.39 on Friday. S&P Global Inc. has a one year low of $427.14 and a one year high of $579.05. The stock has a fifty day moving average of $529.93 and a 200-day moving average of $514.25. The company has a market capitalization of $148.49 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98.

S&P Global (NYSE:SPGI) last released its earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. The company had revenue of $1.87 billion during the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. As a group, equities analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be issued a $0.96 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. S&P Global’s dividend payout ratio is presently 29.54%.

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.