Penobscot Investment Management Company Inc. Sells 1,516 Shares of S&P Global Inc. (NYSE:SPGI)

Penobscot Investment Management Company Inc. lowered its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,369 shares of the business services provider’s stock after selling 1,516 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in S&P Global were worth $8,650,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SPGI. Human Investing LLC bought a new position in shares of S&P Global during the fourth quarter worth about $30,000. Noble Wealth Management PBC acquired a new stake in shares of S&P Global in the fourth quarter valued at approximately $31,000. Dunhill Financial LLC lifted its position in shares of S&P Global by 94.4% in the third quarter. Dunhill Financial LLC now owns 70 shares of the business services provider’s stock worth $36,000 after purchasing an additional 34 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in S&P Global by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 72 shares of the business services provider’s stock worth $36,000 after purchasing an additional 63 shares during the last quarter. Finally, BankPlus Trust Department bought a new position in S&P Global in the fourth quarter valued at $40,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

SPGI has been the subject of a number of recent research reports. Evercore ISI increased their price objective on shares of S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. BMO Capital Markets boosted their price target on S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Morgan Stanley raised their target price on shares of S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group boosted their target price on shares of S&P Global from $610.00 to $640.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Oppenheimer cut their price target on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $590.86.

S&P Global Trading Up 2.0 %

Shares of S&P Global stock opened at $513.83 on Wednesday. S&P Global Inc. has a 52-week low of $407.69 and a 52-week high of $545.39. The stock has a market cap of $158.16 billion, a PE ratio of 41.61, a PEG ratio of 2.41 and a beta of 1.20. The firm has a 50-day moving average of $514.89 and a 200-day moving average of $510.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same quarter in the previous year, the firm earned $3.13 EPS. As a group, sell-side analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.96 per share. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Wednesday, February 26th. S&P Global’s dividend payout ratio is 31.09%.

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.