Mattern Capital Management LLC Sells 311 Shares of S&P Global Inc. (NYSE:SPGI)

Mattern Capital Management LLC cut its stake in shares of S&P Global Inc. (NYSE:SPGI) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,908 shares of the business services provider’s stock after selling 311 shares during the quarter. S&P Global makes up 1.4% of Mattern Capital Management LLC’s portfolio, making the stock its 14th largest holding. Mattern Capital Management LLC’s holdings in S&P Global were worth $10,623,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new position in shares of S&P Global during the 4th quarter worth about $25,000. Anderson Financial Strategies LLC bought a new stake in shares of S&P Global during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of S&P Global during the 4th quarter worth approximately $31,000. Hazlett Burt & Watson Inc. raised its stake in shares of S&P Global by 131.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. Finally, BankPlus Trust Department bought a new stake in S&P Global in the 4th quarter valued at $40,000. 87.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Sally Moore sold 500 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the transaction, the executive vice president now directly owns 5,131 shares of the company’s stock, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPGI. UBS Group upped their price objective on S&P Global from $555.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Bank of America assumed coverage on S&P Global in a research note on Thursday, April 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Stifel Nicolaus reduced their price objective on S&P Global from $629.00 to $603.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird dropped their target price on S&P Global from $616.00 to $589.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their target price on S&P Global from $618.00 to $565.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $592.71.

S&P Global Stock Up 1.7%

Shares of NYSE:SPGI opened at $523.32 on Wednesday. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $545.39. The firm has a market capitalization of $160.50 billion, a P/E ratio of 41.11, a P/E/G ratio of 2.51 and a beta of 1.20. The stock has a 50 day moving average price of $503.08 and a 200-day moving average price of $503.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.90.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.23 by $0.14. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $4.01 EPS. As a group, equities research analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Wednesday, May 28th were issued a $0.96 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $3.84 dividend on an annualized basis and a yield of 0.73%. S&P Global’s dividend payout ratio is currently 30.16%.

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.