Alpine Bank Wealth Management Purchases New Position in S&P Global Inc. (NYSE:SPGI)

Alpine Bank Wealth Management acquired a new stake in S&P Global Inc. (NYSE:SPGI) in the first quarter, according to its most recent filing with the SEC. The fund acquired 65 shares of the business services provider’s stock, valued at approximately $33,000.

A number of other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of S&P Global by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 6,589,982 shares of the business services provider’s stock valued at $3,273,264,000 after purchasing an additional 116,208 shares in the last quarter. Norges Bank bought a new position in S&P Global in the 4th quarter worth about $1,725,084,000. Northern Trust Corp grew its holdings in S&P Global by 19.1% during the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider’s stock valued at $1,631,568,000 after buying an additional 525,347 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of S&P Global by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,071,407 shares of the business services provider’s stock valued at $1,529,653,000 after buying an additional 357,790 shares during the period. Finally, Amundi lifted its holdings in shares of S&P Global by 6.6% in the fourth quarter. Amundi now owns 2,345,377 shares of the business services provider’s stock worth $1,162,979,000 after buying an additional 145,434 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Price Performance

SPGI opened at $515.88 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $158.22 billion, a P/E ratio of 40.52, a PEG ratio of 2.54 and a beta of 1.20. The stock has a 50-day moving average price of $505.28 and a 200-day moving average price of $503.52. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $545.39.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.14. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm earned $4.01 earnings per share. S&P Global’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global’s payout ratio is presently 30.16%.

Insider Buying and Selling

In related news, EVP Sally Moore sold 500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the sale, the executive vice president now directly owns 5,131 shares in the company, valued at $2,619,016.33. This represents a 8.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Argus raised shares of S&P Global to a “strong-buy” rating in a research note on Friday, May 16th. Wells Fargo & Company boosted their price target on shares of S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Bank of America assumed coverage on shares of S&P Global in a report on Thursday, April 10th. They issued a “buy” rating and a $600.00 price target on the stock. Mizuho started coverage on S&P Global in a research note on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price objective for the company. Finally, Stifel Nicolaus decreased their target price 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. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and an average price target of $592.71.

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.