Truist Financial Corp Grows Position in S&P Global Inc. $SPGI

Truist Financial Corp increased its position in S&P Global Inc. (NYSE:SPGI) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,132 shares of the business services provider’s stock after buying an additional 4,264 shares during the quarter. Truist Financial Corp’s holdings in S&P Global were worth $42,895,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. MTM Investment Management LLC bought a new position in shares of S&P Global during the second quarter valued at about $27,000. J.Safra Asset Management Corp bought a new stake in shares of S&P Global in the third quarter worth about $29,000. Spurstone Advisory Services LLC purchased a new position in S&P Global during the 2nd quarter valued at about $34,000. Howard Hughes Medical Institute bought a new position in S&P Global during the 2nd quarter valued at approximately $36,000. Finally, Solstein Capital LLC purchased a new stake in S&P Global in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of NYSE SPGI opened at $528.53 on Friday. The company has a 50 day simple moving average of $517.92 and a two-hundred day simple moving average of $517.43. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The company has a market capitalization of $160.04 billion, a price-to-earnings ratio of 38.44, a P/E/G ratio of 2.24 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.97.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 30th. The business services provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $4.26 by $0.47. S&P Global had a return on equity of 15.90% and a net margin of 28.10%.The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the firm posted $3.89 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts expect 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 will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be given a dividend of $0.97 per share. This is a positive change from S&P Global’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $3.88 annualized dividend and a yield of 0.7%. S&P Global’s payout ratio is currently 27.93%.

Analysts Set New Price Targets

A number of brokerages recently commented on SPGI. Mizuho upped their target price on S&P Global from $637.00 to $643.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. JPMorgan Chase & Co. decreased their price objective on shares of S&P Global from $635.00 to $615.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of S&P Global in a research report on Monday, December 29th. Evercore ISI boosted their price target on shares of S&P Global from $629.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Finally, Stifel Nicolaus decreased their price target on shares of S&P Global from $625.00 to $599.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $615.64.

About S&P Global

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.