Fifth Third Bancorp Sells 5,655 Shares of S&P Global Inc. (NYSE:SPGI)

Fifth Third Bancorp lessened its stake in S&P Global Inc. (NYSE:SPGI) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,784 shares of the business services provider’s stock after selling 5,655 shares during the quarter. Fifth Third Bancorp’s holdings in S&P Global were worth $56,289,000 as of its most recent filing with the Securities and Exchange Commission.

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

S&P Global Stock Down 0.0%

Shares of NYSE SPGI opened at $513.89 on Thursday. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $157.61 billion, a price-to-earnings ratio of 41.61, a PEG ratio of 2.41 and a beta of 1.20. The business has a 50-day moving average of $494.55 and a 200-day moving average of $504.34.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.14. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.01 earnings per share. Sell-side analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the transaction, the executive vice president now directly owns 5,131 shares of the company’s stock, valued at $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 is available at this hyperlink. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SPGI. Evercore ISI upped their price objective on shares of S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Bank of America started coverage on shares of S&P Global in a report on Thursday, April 10th. They issued a “buy” rating and a $600.00 target price for the company. Robert W. Baird decreased their target price 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. 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 objective for the company. Finally, UBS Group increased their target price on S&P Global from $555.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $592.71.

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.