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

PNC Financial Services Group Inc. cut its holdings in S&P Global Inc. (NYSE:SPGI) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 669,511 shares of the business services provider’s stock after selling 3,853 shares during the period. PNC Financial Services Group Inc.’s holdings in S&P Global were worth $353,026,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SPGI. United Asset Strategies Inc. grew its position in S&P Global by 1.0% in the second quarter. United Asset Strategies Inc. now owns 3,377 shares of the business services provider’s stock valued at $1,781,000 after purchasing an additional 32 shares in the last quarter. Milestone Resources Group Ltd grew its holdings in shares of S&P Global by 72.5% in the 2nd quarter. Milestone Resources Group Ltd now owns 438,696 shares of the business services provider’s stock valued at $231,320,000 after acquiring an additional 184,427 shares in the last quarter. M&G PLC increased its position in shares of S&P Global by 34.4% in the second quarter. M&G PLC now owns 4,688 shares of the business services provider’s stock valued at $2,471,000 after acquiring an additional 1,201 shares during the last quarter. Forsta AP Fonden raised its holdings in S&P Global by 6.5% during the second quarter. Forsta AP Fonden now owns 98,785 shares of the business services provider’s stock worth $52,088,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Peninsula Asset Management Inc. raised its holdings in S&P Global by 0.6% during the second quarter. Peninsula Asset Management Inc. now owns 17,829 shares of the business services provider’s stock worth $9,401,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Performance

NYSE SPGI opened at $497.07 on Wednesday. The stock has a market cap of $150.51 billion, a PE ratio of 38.24, a P/E/G ratio of 2.50 and a beta of 1.17. 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 50-day moving average of $500.09 and a 200-day 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.

S&P Global (NYSE:SPGI) last released 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%. On average, sell-side analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPGI. Wells Fargo & Company raised their price target on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Weiss Ratings restated a “buy (b)” rating on shares of S&P Global in a report on Wednesday, October 8th. Evercore ISI upped their price target on shares of S&P Global from $619.00 to $629.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Citigroup lifted their price objective on shares of S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Stifel Nicolaus dropped their target price on shares of S&P Global from $625.00 to $599.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $612.38.

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.