S&P Global Inc. (NYSE:SPGI) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 17.8% during the fourth quarter, HoldingsChannel reports. The firm owned 43,786 shares of the business services provider’s stock after selling 9,468 shares during the period. M&T Bank Corp’s holdings in S&P Global were worth $19,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPGI. Pinnacle Associates Ltd. lifted its stake in shares of S&P Global by 33.9% in the third quarter. Pinnacle Associates Ltd. now owns 2,130 shares of the business services provider’s stock worth $778,000 after acquiring an additional 539 shares in the last quarter. Sage Mountain Advisors LLC lifted its stake in shares of S&P Global by 5.5% in the third quarter. Sage Mountain Advisors LLC now owns 847 shares of the business services provider’s stock worth $310,000 after acquiring an additional 44 shares in the last quarter. Concord Wealth Partners lifted its stake in shares of S&P Global by 34.7% in the third quarter. Concord Wealth Partners now owns 1,920 shares of the business services provider’s stock worth $702,000 after acquiring an additional 495 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of S&P Global by 4.3% in the third quarter. Lindbrook Capital LLC now owns 1,784 shares of the business services provider’s stock worth $652,000 after acquiring an additional 73 shares in the last quarter. Finally, WealthShield Partners LLC lifted its stake in shares of S&P Global by 16.4% in the third quarter. WealthShield Partners LLC now owns 5,846 shares of the business services provider’s stock worth $2,136,000 after acquiring an additional 823 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Erste Group Bank reiterated a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Raymond James boosted their price target on S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Oppenheimer upped their price objective on S&P Global from $480.00 to $482.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada restated an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a research note on Friday, February 9th. Finally, Stifel Nicolaus upped their price objective on S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and an average target price of $462.60.

S&P Global Stock Performance

SPGI stock traded up $8.22 on Friday, reaching $425.18. The company’s stock had a trading volume of 1,917,839 shares, compared to its average volume of 1,418,015. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $461.16. The company has a market capitalization of $133.04 billion, a P/E ratio of 47.67, a price-to-earnings-growth ratio of 2.37 and a beta of 1.14. The firm has a fifty day moving average of $422.63 and a two-hundred day moving average of $419.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.33. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. As a group, analysts predict that S&P Global Inc. will post 14.1 EPS for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, May 28th. S&P Global’s dividend payout ratio (DPR) is 40.81%.

Insider Buying and Selling

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $424.74, for a total value of $2,548,440.00. Following the completion of the sale, the chief executive officer now directly owns 162,530 shares in the company, valued at $69,032,992.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

About S&P Global

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, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.