First Western Trust Bank Has $4.76 Million Stock Position in S&P Global Inc. (NYSE:SPGI)

First Western Trust Bank cut its position in S&P Global Inc. (NYSE:SPGI) by 16.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,672 shares of the business services provider’s stock after selling 2,081 shares during the period. First Western Trust Bank’s holdings in S&P Global were worth $4,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPGI. Capital International Investors lifted its stake in shares of S&P Global by 5.3% in the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after buying an additional 291,712 shares in the last quarter. Norges Bank bought a new position in S&P Global in the 4th quarter valued at about $1,652,862,000. Capital World Investors lifted its position in S&P Global by 0.5% in the 4th quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock valued at $1,241,706,000 after acquiring an additional 12,644 shares in the last quarter. Wells Fargo & Company MN boosted its stake in S&P Global by 11.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,624,308 shares of the business services provider’s stock valued at $1,156,060,000 after purchasing an additional 279,633 shares during the last quarter. Finally, Parnassus Investments LLC increased its holdings in S&P Global by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 2,467,429 shares of the business services provider’s stock worth $1,086,952,000 after purchasing an additional 7,887 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPGI. Royal Bank of Canada lifted their target price on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays increased their target price on shares of S&P Global from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their price target on shares of S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $535.25.

Insider Activity at S&P Global

In other news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the sale, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the completion of the sale, the chief executive officer now owns 154,912 shares in the company, valued at $74,915,443.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by corporate insiders.

S&P Global Price Performance

Shares of NYSE SPGI opened at $517.00 on Friday. The firm has a market cap of $161.77 billion, a price-to-earnings ratio of 57.96, a price-to-earnings-growth ratio of 2.67 and a beta of 1.16. The stock has a fifty day simple moving average of $485.35 and a two-hundred day simple moving average of $447.98. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $518.59.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the company earned $3.12 EPS. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. Analysts anticipate that S&P Global Inc. will post 14.57 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s dividend payout ratio (DPR) is currently 40.81%.

S&P Global Profile

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 through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.