Truist Financial Corp Sells 2,314 Shares of S&P Global Inc. (NYSE:SPGI)

Truist Financial Corp lowered its position in shares of S&P Global Inc. (NYSE:SPGI) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 92,842 shares of the business services provider’s stock after selling 2,314 shares during the quarter. Truist Financial Corp’s holdings in S&P Global were worth $46,238,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SPGI. Exchange Traded Concepts LLC lifted its stake in S&P Global by 163.5% during the third quarter. Exchange Traded Concepts LLC now owns 224 shares of the business services provider’s stock worth $116,000 after purchasing an additional 139 shares during the last quarter. Swedbank AB lifted its stake in S&P Global by 11.8% during the third quarter. Swedbank AB now owns 871,588 shares of the business services provider’s stock worth $450,280,000 after purchasing an additional 92,115 shares during the last quarter. Howard Capital Management Group LLC lifted its stake in S&P Global by 3.2% during the third quarter. Howard Capital Management Group LLC now owns 911 shares of the business services provider’s stock worth $471,000 after purchasing an additional 28 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in S&P Global by 23.2% during the third quarter. Stratos Wealth Advisors LLC now owns 610 shares of the business services provider’s stock worth $315,000 after purchasing an additional 115 shares during the last quarter. Finally, OLD National Bancorp IN lifted its stake in S&P Global by 1.2% during the third quarter. OLD National Bancorp IN now owns 3,272 shares of the business services provider’s stock worth $1,690,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Trading Up 0.6 %

SPGI opened at $543.08 on Wednesday. The business has a 50 day simple moving average of $507.92 and a two-hundred day simple moving average of $507.77. The firm has a market capitalization of $168.52 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 2.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global Inc. has a one year low of $407.69 and a one year high of $545.39.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. During the same quarter in the prior year, the business posted $3.13 EPS. Analysts predict that S&P Global Inc. will post 15.34 EPS for the current year.

S&P Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.96 per share. This is an increase from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.71%. S&P Global’s dividend payout ratio is 32.13%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Evercore ISI boosted their target price on S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Citigroup assumed coverage on S&P Global in a research note on Friday, December 20th. They issued a “buy” rating and a $600.00 target price for the company. Robert W. Baird boosted their target price 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, UBS Group boosted their target price on S&P Global from $610.00 to $640.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $590.23.

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.