Chevy Chase Trust Holdings LLC Sells 1,630 Shares of S&P Global Inc. (NYSE:SPGI)

Chevy Chase Trust Holdings LLC lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,959 shares of the business services provider’s stock after selling 1,630 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in S&P Global were worth $84,324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPGI. Norges Bank bought a new position in S&P Global during the 4th quarter valued at approximately $1,725,084,000. GAMMA Investing LLC increased its position in S&P Global by 60,982.3% during the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider’s stock valued at $1,086,877,000 after buying an additional 2,135,599 shares in the last quarter. Raymond James Financial Inc. bought a new position in S&P Global during the 4th quarter valued at approximately $527,207,000. Proficio Capital Partners LLC increased its holdings in shares of S&P Global by 71,024.1% in the 4th quarter. Proficio Capital Partners LLC now owns 619,491 shares of the business services provider’s stock worth $308,525,000 after purchasing an additional 618,620 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of S&P Global by 19.1% in the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider’s stock worth $1,631,568,000 after purchasing an additional 525,347 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company lifted their target price on S&P Global from $607.00 to $627.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their target price on S&P Global from $618.00 to $565.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus reduced their target price 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. Mizuho assumed coverage on S&P Global in a report on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 target price for the company. Finally, Bank of America assumed coverage on S&P Global in a report on Thursday, April 10th. They issued a “buy” rating and a $600.00 target price for the company. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and a consensus target price of $592.71.

S&P Global Stock Up 2.1%

SPGI opened at $515.04 on Tuesday. The firm’s 50 day simple moving average is $502.03 and its two-hundred day simple moving average is $503.24. The company has a market capitalization of $157.96 billion, a PE 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. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data 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. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. S&P Global’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.01 EPS. As a group, equities analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

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

Insider Activity at S&P Global

In related news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction 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 owns 5,131 shares in the company, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by corporate 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.