S&P Global Inc. $SPGI Stake Lessened by Eastern Bank

Eastern Bank lowered its holdings in S&P Global Inc. (NYSE:SPGI) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,724 shares of the business services provider’s stock after selling 55 shares during the period. Eastern Bank’s holdings in S&P Global were worth $27,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SPGI. Cheviot Value Management LLC purchased a new stake in shares of S&P Global during the first quarter worth $26,000. Costello Asset Management INC purchased a new stake in shares of S&P Global during the first quarter worth $26,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of S&P Global during the second quarter worth $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of S&P Global during the first quarter worth $28,000. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock worth $31,000 after acquiring an additional 31 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SPGI shares. UBS Group increased their price objective on S&P Global from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Barclays increased their target price on shares of S&P Global from $610.00 to $620.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. BMO Capital Markets increased their target price on shares of S&P Global from $604.00 to $621.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Seaport Res Ptn raised shares of S&P Global to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Citigroup increased their target price on shares of S&P Global from $600.00 to $635.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $614.85.

S&P Global Trading Down 0.3%

Shares of NYSE:SPGI opened at $486.39 on Friday. The company has a market cap of $148.49 billion, a P/E ratio of 37.41, a P/E/G ratio of 2.59 and a beta of 1.19. The stock’s 50-day moving average is $529.93 and its 200-day moving average is $514.25. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $579.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. The company had revenue of $1.87 billion for the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. Equities research analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a yield of 0.8%. S&P Global’s dividend payout ratio (DPR) is 29.54%.

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.