Eastern Bank Buys 1,530 Shares of S&P Global Inc. (NYSE:SPGI)

Eastern Bank grew its stake in S&P Global Inc. (NYSE:SPGI) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,157 shares of the business services provider’s stock after acquiring an additional 1,530 shares during the period. Eastern Bank’s holdings in S&P Global were worth $24,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SPGI. HWG Holdings LP acquired a new position in S&P Global during the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new position in S&P Global during the third quarter valued at approximately $27,000. First Personal Financial Services acquired a new position in S&P Global during the third quarter valued at approximately $29,000. Capital Performance Advisors LLP acquired a new position in S&P Global during the third quarter valued at approximately $31,000. Finally, Voisard Asset Management Group Inc. grew its holdings in S&P Global by 77.1% during the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 27 shares during the period. 87.17% of the stock is owned by institutional investors.

S&P Global Price Performance

Shares of SPGI traded down $0.92 during mid-day trading on Monday, reaching $481.80. The company had a trading volume of 706,135 shares, compared to its average volume of 1,202,827. The company’s 50 day simple moving average is $504.66 and its 200 day simple moving average is $499.88. S&P Global Inc. has a 1-year low of $407.69 and a 1-year high of $533.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $149.50 billion, a price-to-earnings ratio of 42.52, a P/E/G ratio of 2.53 and a beta of 1.20.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period last year, the company posted $3.21 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Analysts expect that S&P Global Inc. will post 15.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of S&P Global from $570.00 to $595.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Wells Fargo & Company reduced their target price on shares of S&P Global from $620.00 to $617.00 and set an “overweight” rating for the company in a report on Friday. UBS Group increased their target price on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a report on Friday, October 25th. BMO Capital Markets dropped their price objective on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Citigroup began coverage on shares of S&P Global in a research report on Friday, December 20th. They issued a “buy” rating and a $600.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $583.62.

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.