Cadence Bank Cuts Stake in S&P Global Inc. (NYSE:SPGI)

Cadence Bank decreased its stake in S&P Global Inc. (NYSE:SPGI) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,053 shares of the business services provider’s stock after selling 51 shares during the period. Cadence Bank’s holdings in S&P Global were worth $1,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Human Investing LLC bought a new stake in shares of S&P Global in the fourth quarter worth $30,000. Noble Wealth Management PBC bought a new stake in shares of S&P Global in the 4th quarter worth approximately $31,000. Hazlett Burt & Watson Inc. boosted its position in 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 valued at $32,000 after purchasing an additional 38 shares during the period. Sound Income Strategies LLC grew its stake in S&P Global by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 72 shares of the business services provider’s stock worth $36,000 after buying an additional 63 shares during the last quarter. Finally, BankPlus Trust Department acquired a new stake in S&P Global in the fourth quarter worth $40,000. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Stock Performance

SPGI opened at $462.55 on Friday. The business has a fifty day simple moving average of $499.33 and a 200-day simple moving average of $504.61. The firm has a market cap of $145.17 billion, a PE ratio of 37.45, a P/E/G ratio of 2.41 and a beta of 1.26. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $545.39.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same period in the previous year, the company posted $3.13 EPS. As a group, equities analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, February 26th were paid a $0.96 dividend. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.83%. S&P Global’s dividend payout ratio (DPR) is currently 31.09%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Oppenheimer lowered 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 report on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on shares of S&P Global from $618.00 to $565.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore ISI lifted their price target on S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Mizuho initiated coverage on S&P Global in a report on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 price objective for the company. Finally, Bank of America started coverage on S&P Global in a research report on Thursday, April 10th. They set a “buy” rating and a $600.00 price target for the company. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $591.86.

S&P Global 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.