PNC Financial Services Group Inc. Sells 8,007 Shares of S&P Global Inc. (NYSE:SPGI)

PNC Financial Services Group Inc. decreased its position in shares of S&P Global Inc. (NYSE:SPGI) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 682,157 shares of the business services provider’s stock after selling 8,007 shares during the period. PNC Financial Services Group Inc. owned approximately 0.22% of S&P Global worth $339,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of SPGI. Raymond James Financial Inc. bought a new position in S&P Global during the fourth quarter valued at $527,207,000. Proficio Capital Partners LLC increased its position 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 valued at $308,525,000 after acquiring an additional 618,620 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in S&P Global during the third quarter valued at $224,976,000. FMR LLC increased its position in S&P Global by 6.6% during the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after acquiring an additional 369,598 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in S&P Global during the fourth quarter valued at $144,091,000. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Down 3.3 %

NYSE:SPGI opened at $497.35 on Friday. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $545.39. The company has a 50-day moving average of $515.06 and a 200 day moving average of $511.49. The firm has a market cap of $153.08 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

S&P Global (NYSE:SPGI) last released 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 net margin of 27.12% and a return on equity of 14.33%. During the same period last year, the firm earned $3.13 earnings per share. As a group, research analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.96 per share. The ex-dividend date is Wednesday, February 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.77%. This is an increase from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s dividend payout ratio is 31.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SPGI shares. Morgan Stanley boosted their target price on shares of S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group boosted their target price on shares of S&P Global from $610.00 to $640.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Citigroup started coverage on shares of S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 target price for the company. Wells Fargo & Company boosted their target price on shares of S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI boosted their target price on shares of S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global presently has a consensus rating of “Moderate Buy” and an average price target of $590.23.

S&P Global Company 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.