Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $2.50 Million Holdings in S&P Global Inc. (NYSE:SPGI)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,323 shares of the business services provider’s stock after selling 69 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in S&P Global were worth $2,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SPGI. Minot DeBlois Advisors LLC acquired a new position in S&P Global in the 4th quarter valued at approximately $25,000. Anderson Financial Strategies LLC bought a new stake in shares of S&P Global during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of S&P Global in the fourth quarter valued at $31,000. Hazlett Burt & Watson Inc. raised its stake in shares of S&P Global by 131.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in S&P Global in the first quarter worth $33,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Performance

NYSE SPGI opened at $515.88 on Friday. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $545.39. The company has a 50 day moving average of $505.28 and a 200-day moving average of $503.52. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The firm has a market cap of $158.22 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 2.54 and a beta of 1.20.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.14. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the company earned $4.01 EPS. S&P Global’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Argus upgraded shares of S&P Global to a “strong-buy” rating in a research note on Friday, May 16th. Bank of America assumed coverage on shares of S&P Global in a report on Thursday, April 10th. They set a “buy” rating and a $600.00 price objective for the company. Wells Fargo & Company lifted their target price 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. Mizuho initiated coverage on shares of S&P Global in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 target price on the stock. Finally, Stifel Nicolaus cut their price target on shares of S&P Global from $629.00 to $603.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $592.71.

Insider Activity

In other news, EVP Sally Moore sold 500 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

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.