Eastern Bank Buys 1,530 Shares of S&P Global Inc. (NYSE:SPGI)

Eastern Bank increased its stake in S&P Global Inc. (NYSE:SPGI) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,157 shares of the business services provider’s stock after acquiring an additional 1,530 shares during the quarter. Eastern Bank’s holdings in S&P Global were worth $24,980,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB grew its position in S&P Global by 52.0% in the 4th quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock valued at $328,632,000 after purchasing an additional 225,370 shares during the period. GDS Wealth Management grew its position in S&P Global by 7.0% in the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock valued at $14,134,000 after purchasing an additional 1,801 shares during the period. Sanctuary Advisors LLC grew its position in S&P Global by 12.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider’s stock valued at $14,198,000 after purchasing an additional 3,093 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in S&P Global in the 3rd quarter valued at $27,170,000. Finally, Pinnacle Financial Partners Inc grew its position in S&P Global by 3.9% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 47,705 shares of the business services provider’s stock valued at $24,645,000 after purchasing an additional 1,806 shares during the period. Institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

SPGI traded down $0.92 during midday trading on Monday, hitting $481.80. The stock had a trading volume of 706,135 shares, compared to its average volume of 1,202,827. The company has a market cap of $149.50 billion, a P/E ratio of 42.52, a price-to-earnings-growth ratio of 2.53 and a beta of 1.20. The business has a fifty day moving average of $504.66 and a 200 day moving average of $499.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. S&P Global Inc. has a 1 year low of $407.69 and a 1 year high of $533.29.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. S&P Global’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 earnings per share. As a group, equities analysts forecast that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Oppenheimer cut their price objective on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Stifel Nicolaus boosted their price target on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company lowered their price objective on S&P Global from $620.00 to $617.00 and set an “overweight” rating on the stock in a research note on Friday. Robert W. Baird boosted their price objective on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price objective on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $583.62.

About S&P Global

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.