CNB Bank Grows Position in S&P Global Inc. (NYSE:SPGI)

CNB Bank boosted its stake in S&P Global Inc. (NYSE:SPGI) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,024 shares of the business services provider’s stock after buying an additional 64 shares during the period. CNB Bank’s holdings in S&P Global were worth $520,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SPGI. Norges Bank acquired a new stake in shares of S&P Global in the fourth quarter valued at $1,725,084,000. GAMMA Investing LLC boosted its holdings in S&P Global by 60,982.3% during the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider’s stock valued at $1,086,877,000 after acquiring an additional 2,135,599 shares during the period. Raymond James Financial Inc. acquired a new position in S&P Global in the 4th quarter valued at about $527,207,000. Proficio Capital Partners LLC increased its stake 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 purchasing an additional 618,620 shares during the period. Finally, Northern Trust Corp increased its stake 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 purchasing an additional 525,347 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the subject of several recent research reports. Bank of America started coverage on shares of S&P Global in a research note on Thursday, April 10th. They issued a “buy” rating and a $600.00 price objective for the company. Wells Fargo & Company raised their price target on shares of S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Argus upgraded shares of S&P Global to a “strong-buy” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. reduced their price objective on S&P Global from $618.00 to $565.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Mizuho started coverage on S&P Global in a report on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $592.71.

Insider Transactions at S&P Global

In other news, EVP Sally Moore sold 500 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the sale, the executive vice president now owns 5,131 shares in the company, valued at approximately $2,619,016.33. This represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $515.88 on Friday. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. The firm has a market capitalization of $158.22 billion, a P/E ratio of 40.52, a P/E/G ratio of 2.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The company’s fifty day moving average price is $505.28 and its 200 day moving average price is $503.52.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.14. The business 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 14.68% and a net margin of 27.27%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.01 EPS. As a group, sell-side analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, August 26th. S&P Global’s payout ratio is currently 30.16%.

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.