Truist Financial Corp Sells 34,361 Shares of S&P Global Inc. (NYSE:SPGI)

Truist Financial Corp cut its holdings in S&P Global Inc. (NYSE:SPGI) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 179,539 shares of the business services provider’s stock after selling 34,361 shares during the period. Truist Financial Corp owned 0.06% of S&P Global worth $79,091,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. D.B. Root & Company LLC grew its position in S&P Global by 3.6% during the fourth quarter. D.B. Root & Company LLC now owns 662 shares of the business services provider’s stock worth $292,000 after buying an additional 23 shares in the last quarter. Mayflower Financial Advisors LLC grew its position in S&P Global by 3.3% during the fourth quarter. Mayflower Financial Advisors LLC now owns 714 shares of the business services provider’s stock worth $315,000 after buying an additional 23 shares in the last quarter. Allworth Financial LP grew its position in S&P Global by 1.8% during the fourth quarter. Allworth Financial LP now owns 1,356 shares of the business services provider’s stock worth $598,000 after buying an additional 24 shares in the last quarter. Oakworth Capital Inc. grew its position in S&P Global by 31.2% during the fourth quarter. Oakworth Capital Inc. now owns 101 shares of the business services provider’s stock worth $44,000 after buying an additional 24 shares in the last quarter. Finally, Independence Bank of Kentucky grew its position in S&P Global by 1.7% during the fourth quarter. Independence Bank of Kentucky now owns 1,487 shares of the business services provider’s stock worth $655,000 after buying an additional 25 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Erste Group Bank reaffirmed a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Stifel Nicolaus lifted their price objective on S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer lifted their price objective on S&P Global from $480.00 to $482.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a report on Friday, February 9th. Finally, Barclays boosted their price objective on shares of S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $462.60.

S&P Global Stock Up 0.1 %

Shares of S&P Global stock traded up $0.28 during trading hours on Friday, reaching $415.78. 1,611,466 shares of the company’s stock were exchanged, compared to its average volume of 1,323,956. The company has a 50 day moving average of $423.79 and a two-hundred day moving average of $417.41. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $461.16. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 0.33. The stock has a market cap of $133.16 billion, a P/E ratio of 46.61, a P/E/G ratio of 2.36 and a beta of 1.15.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.33. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.39 billion. On average, sell-side analysts forecast that S&P Global Inc. will post 13.99 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas L. Peterson sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $424.74, for a total value of $2,548,440.00. Following the sale, the chief executive officer now directly owns 162,530 shares of the company’s stock, valued at approximately $69,032,992.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

S&P Global Profile

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 through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.