Corebridge Financial Inc. Sells 1,566 Shares of S&P Global Inc. (NYSE:SPGI)

Corebridge Financial Inc. cut its stake in S&P Global Inc. (NYSE:SPGI) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,644 shares of the business services provider’s stock after selling 1,566 shares during the quarter. Corebridge Financial Inc.’s holdings in S&P Global were worth $44,147,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Angeles Investment Advisors LLC lifted its holdings in shares of S&P Global by 7.8% in the 4th quarter. Angeles Investment Advisors LLC now owns 498 shares of the business services provider’s stock worth $248,000 after acquiring an additional 36 shares during the last quarter. Napatree Capital LLC raised its position in S&P Global by 20.1% in the 4th quarter. Napatree Capital LLC now owns 698 shares of the business services provider’s stock worth $348,000 after purchasing an additional 117 shares during the period. Meridian Wealth Advisors LLC lifted its stake in S&P Global by 2.2% in the fourth quarter. Meridian Wealth Advisors LLC now owns 11,507 shares of the business services provider’s stock worth $5,731,000 after purchasing an additional 252 shares during the last quarter. LPL Financial LLC boosted its position in shares of S&P Global by 6.6% during the fourth quarter. LPL Financial LLC now owns 270,099 shares of the business services provider’s stock valued at $134,556,000 after buying an additional 16,761 shares during the period. Finally, Fox Run Management L.L.C. boosted its position in shares of S&P Global by 126.2% during the fourth quarter. Fox Run Management L.L.C. now owns 1,617 shares of the business services provider’s stock valued at $805,000 after buying an additional 902 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Performance

Shares of NYSE:SPGI opened at $497.62 on Monday. The firm has a 50 day moving average of $513.85 and a 200 day moving average of $510.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $153.17 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. S&P Global Inc. has a 52 week low of $407.69 and a 52 week high of $545.39.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data 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 14.33% and a net margin of 27.12%. During the same quarter in the previous year, the company posted $3.13 earnings per share. On average, sell-side analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were issued a $0.96 dividend. This is a boost from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Wednesday, February 26th. S&P Global’s dividend payout ratio (DPR) is currently 31.09%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPGI. Citigroup initiated coverage on S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 price target for the company. Evercore ISI lifted their target price on S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. StockNews.com lowered shares of S&P Global from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Morgan Stanley raised their price target on shares of S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Oppenheimer lowered their price objective on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $590.86.

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.