PNC Financial Services Group Inc. Sells 3,853 Shares of S&P Global Inc. $SPGI

PNC Financial Services Group Inc. lessened its position in shares of S&P Global Inc. (NYSE:SPGI) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 669,511 shares of the business services provider’s stock after selling 3,853 shares during the quarter. PNC Financial Services Group Inc. owned about 0.22% of S&P Global worth $353,026,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SPGI. Valeo Financial Advisors LLC grew its position in shares of S&P Global by 70,734.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock worth $1,670,671,000 after buying an additional 3,163,938 shares during the period. Nuveen LLC acquired a new stake in S&P Global during the 1st quarter worth $1,103,665,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of S&P Global by 70.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider’s stock valued at $826,819,000 after acquiring an additional 670,392 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of S&P Global by 26.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider’s stock valued at $1,497,493,000 after purchasing an additional 614,809 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of S&P Global by 37.9% in the 1st quarter. Alliancebernstein L.P. now owns 766,154 shares of the business services provider’s stock valued at $389,283,000 after purchasing an additional 210,373 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPGI. Citigroup upped their price objective on S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a report on Monday, September 15th. Weiss Ratings restated a “buy (b)” rating on shares of S&P Global in a research report on Wednesday, October 8th. Barclays upped their price target on S&P Global from $610.00 to $620.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price objective on shares of S&P Global from $615.00 to $620.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Finally, Mizuho upped their target price on shares of S&P Global from $637.00 to $643.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, S&P Global has an average rating of “Buy” and a consensus price target of $612.38.

S&P Global Price Performance

Shares of SPGI opened at $497.07 on Wednesday. The stock has a 50 day simple moving average of $500.09 and a 200 day simple moving average of $517.04. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $579.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $150.51 billion, a PE ratio of 38.24, a P/E/G ratio of 2.50 and a beta of 1.17.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. The firm had revenue of $1.87 billion for the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. Sell-side analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global’s dividend payout ratio is 27.93%.

About S&P Global

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.