Pinnacle Associates Ltd. Buys 387 Shares of S&P Global Inc. (NYSE:SPGI)

Pinnacle Associates Ltd. grew its stake in S&P Global Inc. (NYSE:SPGIFree Report) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,517 shares of the business services provider’s stock after buying an additional 387 shares during the period. Pinnacle Associates Ltd.’s holdings in S&P Global were worth $1,109,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. State Street Corp raised its position in shares of S&P Global by 2.0% in the second quarter. State Street Corp now owns 14,434,798 shares of the business services provider’s stock valued at $5,786,766,000 after purchasing an additional 282,966 shares during the period. Wellington Management Group LLP boosted its stake in S&P Global by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock valued at $2,769,787,000 after purchasing an additional 881,215 shares during the period. Morgan Stanley grew its holdings in S&P Global by 8.2% in the 3rd quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock valued at $2,067,807,000 after buying an additional 428,737 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of S&P Global by 39.5% during the first quarter. Northern Trust Corp now owns 3,727,874 shares of the business services provider’s stock worth $1,529,100,000 after buying an additional 1,056,097 shares during the last quarter. Finally, Norges Bank acquired a new position in S&P Global during the 4th quarter valued at $1,112,935,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SPGI. Oppenheimer restated an “outperform” rating and set a $480.00 price objective on shares of S&P Global in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $500.00 target price on shares of S&P Global in a research report on Friday, February 9th. BMO Capital Markets boosted their price target on shares of S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a report on Monday. Raymond James raised their price objective on shares of S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Finally, Barclays upped their target price on shares of S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $464.22.

Read Our Latest Research Report on SPGI

S&P Global Stock Performance

Shares of S&P Global stock opened at $426.26 on Wednesday. The firm has a 50 day simple moving average of $432.50 and a 200 day simple moving average of $411.52. S&P Global Inc. has a fifty-two week low of $329.46 and a fifty-two week high of $461.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $136.51 billion, a P/E ratio of 51.79, a P/E/G ratio of 2.43 and a beta of 1.15.

S&P Global (NYSE:SPGIGet Free Report) last released its earnings results on Thursday, February 8th. The business services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). S&P Global had a net margin of 21.02% and a return on equity of 11.34%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the business posted $2.54 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that S&P Global Inc. will post 14 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from S&P Global’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 0.85%. S&P Global’s dividend payout ratio is presently 44.23%.

Insider Activity

In related news, CEO Douglas L. Peterson sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $424.74, for a total transaction of $2,548,440.00. Following the completion of the sale, the chief executive officer now directly owns 162,530 shares of the company’s stock, valued at $69,032,992.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.10% of the company’s stock.

S&P Global Company Profile

(Free Report)

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, and S&P Dow Jones Indices segments.

See Also

Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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