Cadence Bank Decreases Position in S&P Global Inc. (NYSE:SPGI)

Cadence Bank lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,234 shares of the business services provider’s stock after selling 106 shares during the quarter. Cadence Bank’s holdings in S&P Global were worth $1,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Capital International Investors increased its position in shares of S&P Global by 12.6% in the fourth quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after acquiring an additional 616,732 shares during the period. Norges Bank purchased a new position in shares of S&P Global in the fourth quarter valued at about $1,652,862,000. Capital World Investors increased its position in shares of S&P Global by 0.5% in the fourth quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock valued at $1,241,706,000 after acquiring an additional 12,644 shares during the period. Wells Fargo & Company MN increased its position in shares of S&P Global by 11.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,624,308 shares of the business services provider’s stock valued at $1,156,060,000 after acquiring an additional 279,633 shares during the period. Finally, Parnassus Investments LLC increased its position in shares of S&P Global by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 2,467,429 shares of the business services provider’s stock valued at $1,086,952,000 after acquiring an additional 7,887 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of SPGI stock traded up $6.46 on Friday, hitting $489.79. 823,310 shares of the stock traded hands, compared to its average volume of 1,259,968. The firm has a market cap of $153.26 billion, a price-to-earnings ratio of 55.16, a PEG ratio of 2.73 and a beta of 1.16. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $498.15. The firm has a 50 day simple moving average of $449.75 and a two-hundred day simple moving average of $436.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, beating the consensus estimate of $3.68 by $0.33. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.39 billion. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. As a group, equities research analysts predict that S&P Global Inc. will post 14.27 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a yield of 0.74%. S&P Global’s dividend payout ratio is currently 40.81%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SPGI shares. UBS Group boosted their price target on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Stifel Nicolaus boosted their price objective on shares of S&P Global from $442.00 to $446.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Oppenheimer boosted their price objective on shares of S&P Global from $482.00 to $486.00 and gave the stock an “outperform” rating in a research note on Monday, July 1st. Barclays upped their target price on shares of S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $500.00 target price on shares of S&P Global in a research note on Friday, June 21st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $490.55.

S&P Global Company 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.