M&T Bank Corp Sells 3,661 Shares of S&P Global Inc. (NYSE:SPGI)

M&T Bank Corp reduced its holdings in shares of S&P Global Inc. (NYSE:SPGIGet Rating) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,034 shares of the business services provider’s stock after selling 3,661 shares during the quarter. M&T Bank Corp’s holdings in S&P Global were worth $22,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPGI. Norges Bank purchased a new stake in shares of S&P Global during the fourth quarter worth about $822,231,000. BlackRock Inc. grew its holdings in S&P Global by 7.3% during the 4th quarter. BlackRock Inc. now owns 18,812,872 shares of the business services provider’s stock valued at $8,878,360,000 after buying an additional 1,277,266 shares in the last quarter. Pendal Group Ltd purchased a new position in S&P Global during the 1st quarter valued at approximately $509,023,000. Marshall Wace LLP lifted its stake in shares of S&P Global by 396.0% in the 4th quarter. Marshall Wace LLP now owns 876,875 shares of the business services provider’s stock valued at $413,825,000 after purchasing an additional 700,082 shares during the last quarter. Finally, Castleview Partners LLC bought a new stake in shares of S&P Global in the 4th quarter valued at approximately $1,336,000. 94.26% of the stock is owned by institutional investors.

S&P Global Stock Performance

Shares of SPGI stock opened at $376.65 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.38 and a current ratio of 1.26. S&P Global Inc. has a 1 year low of $311.87 and a 1 year high of $484.21. The stock’s 50-day moving average is $345.78 and its two-hundred day moving average is $372.31. The firm has a market cap of $125.61 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 2.74 and a beta of 1.04.

S&P Global (NYSE:SPGIGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The business services provider reported $2.81 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.12). The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3 billion. S&P Global had a net margin of 38.49% and a return on equity of 17.22%. S&P Global’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.62 EPS. Analysts predict that S&P Global Inc. will post 11.49 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 26th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $3.40 annualized dividend and a dividend yield of 0.90%. S&P Global’s dividend payout ratio is currently 25.34%.

Insider Buying and Selling

In other S&P Global news, EVP Nancy Luquette sold 3,200 shares of S&P Global stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $367.49, for a total value of $1,175,968.00. Following the completion of the sale, the executive vice president now directly owns 2,467 shares of the company’s stock, valued at approximately $906,597.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Dimitra Manis sold 2,000 shares of S&P Global stock in a transaction on Monday, May 16th. The shares were sold at an average price of $336.53, for a total transaction of $673,060.00. Following the transaction, the executive vice president now owns 4,839 shares in the company, valued at approximately $1,628,468.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Luquette sold 3,200 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $367.49, for a total transaction of $1,175,968.00. Following the completion of the transaction, the executive vice president now owns 2,467 shares in the company, valued at approximately $906,597.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,487 shares of company stock worth $2,612,291. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on SPGI. Robert W. Baird decreased their target price on S&P Global from $472.00 to $414.00 and set an “outperform” rating for the company in a research report on Thursday, June 2nd. Royal Bank of Canada cut their price target on S&P Global from $540.00 to $434.00 in a report on Thursday, June 2nd. Credit Suisse Group cut their price target on S&P Global from $495.00 to $425.00 in a report on Wednesday, May 4th. Barclays dropped their target price on S&P Global from $450.00 to $385.00 and set an “overweight” rating on the stock in a research note on Friday, June 3rd. Finally, BMO Capital Markets dropped their target price on S&P Global from $433.00 to $365.00 in a research note on Thursday, June 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and a consensus price target of $422.00.

About S&P Global

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S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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