Westpac Banking Corp Trims Position in S&P Global Inc. (NYSE:SPGI)

Westpac Banking Corp cut its position in S&P Global Inc. (NYSE:SPGIGet Rating) by 32.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 46,339 shares of the business services provider’s stock after selling 22,074 shares during the quarter. Westpac Banking Corp’s holdings in S&P Global were worth $21,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baystate Wealth Management LLC grew its stake in S&P Global by 96.7% during the third quarter. Baystate Wealth Management LLC now owns 59 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 29 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in S&P Global during the fourth quarter valued at $28,000. MV Capital Management Inc. grew its stake in S&P Global by 65.9% during the third quarter. MV Capital Management Inc. now owns 68 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 27 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in S&P Global during the fourth quarter valued at $31,000. Finally, JNBA Financial Advisors bought a new position in S&P Global during the third quarter valued at $36,000. 92.90% of the stock is owned by institutional investors.

SPGI has been the subject of several analyst reports. Morgan Stanley lowered their target price on shares of S&P Global from $468.00 to $459.00 and set an “overweight” rating for the company in a report on Thursday, March 17th. JPMorgan Chase & Co. started coverage on shares of S&P Global in a report on Wednesday, March 2nd. They issued an “overweight” rating and a $480.00 target price for the company. Oppenheimer decreased their price objective on shares of S&P Global from $540.00 to $497.00 and set an “outperform” rating for the company in a report on Wednesday, February 9th. Credit Suisse Group reiterated an “outperform” rating and set a $495.00 price objective on shares of S&P Global in a report on Thursday, March 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of S&P Global in a report on Wednesday, March 30th. They set a “buy” rating and a $515.00 price objective for the company. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $480.14.

SPGI stock opened at $376.50 on Friday. The firm has a 50 day moving average of $396.10 and a 200 day moving average of $427.57. The stock has a market capitalization of $90.77 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 2.38 and a beta of 1.05. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.95. S&P Global Inc. has a 52 week low of $363.54 and a 52 week high of $484.21.

S&P Global (NYSE:SPGIGet Rating) last released its earnings results on Tuesday, February 8th. The business services provider reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.02. S&P Global had a net margin of 36.46% and a return on equity of 205.36%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business earned $2.71 EPS. S&P Global’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities research analysts expect that S&P Global Inc. will post 13.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 0.90%. This is a boost from S&P Global’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, May 26th. S&P Global’s payout ratio is presently 24.62%.

In related news, insider Martina Cheung sold 3,870 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $381.28, for a total value of $1,475,553.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven J. Kemps sold 1,591 shares of the business’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $407.23, for a total transaction of $647,902.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,280 shares of company stock valued at $4,478,177. Company insiders own 0.10% of the company’s stock.

About S&P Global (Get Rating)

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

See Also

Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc. (NYSE:SPGIGet Rating).

Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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