S&P Global Inc. (NYSE:SPGI) Holdings Boosted by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. boosted its position in shares of S&P Global Inc. (NYSE:SPGI) by 4.5% during the 1st quarter, HoldingsChannel reports. The firm owned 18,146 shares of the business services provider’s stock after buying an additional 777 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in S&P Global were worth $9,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new position in S&P Global during the 4th quarter worth approximately $25,000. Anderson Financial Strategies LLC acquired a new position in S&P Global in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in S&P Global in the 4th quarter valued at approximately $31,000. Hazlett Burt & Watson Inc. increased its stake in S&P Global by 131.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock valued at $32,000 after buying an additional 38 shares during the period. Finally, Alpine Bank Wealth Management acquired a new position in S&P Global in the 1st quarter valued at approximately $33,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Performance

Shares of SPGI opened at $521.29 on Thursday. The company has a market capitalization of $159.88 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 2.55 and a beta of 1.20. S&P Global Inc. has a one year low of $427.14 and a one year high of $545.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The company’s fifty day moving average price is $504.21 and its 200 day moving average price is $503.51.

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

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.74%. S&P Global’s dividend payout ratio is 30.16%.

Analysts Set New Price Targets

SPGI has been the topic of several research reports. Bank of America initiated coverage on shares of S&P Global in a research note on Thursday, April 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Robert W. Baird dropped their price objective on shares of S&P Global from $616.00 to $589.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of S&P Global from $618.00 to $565.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Mizuho started coverage on shares of S&P Global in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 target price for the company. Finally, Argus upgraded shares of S&P Global to a “strong-buy” rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $592.71.

Insiders Place Their Bets

In other S&P Global news, EVP Sally Moore sold 500 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $510.43, for a total value of $255,215.00. Following the sale, the executive vice president now directly owns 5,131 shares in the company, valued at $2,619,016.33. This trade represents a 8.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.

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.