Peapack Gladstone Financial Corp Sells 131 Shares of S&P Global Inc. (NYSE:SPGI)

Peapack Gladstone Financial Corp trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 0.5% in the 4th quarter, Holdings Channel reports. The fund owned 27,610 shares of the business services provider’s stock after selling 131 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in S&P Global were worth $13,751,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in shares of S&P Global by 52.0% during the fourth quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock valued at $328,632,000 after acquiring an additional 225,370 shares in the last quarter. Sanctuary Advisors LLC increased its stake in S&P Global by 12.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider’s stock valued at $14,198,000 after purchasing an additional 3,093 shares in the last quarter. Eastern Bank increased its stake in S&P Global by 3.1% during the 4th quarter. Eastern Bank now owns 50,157 shares of the business services provider’s stock valued at $24,980,000 after purchasing an additional 1,530 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in S&P Global by 19.1% in the fourth quarter. Wealthfront Advisers LLC now owns 37,746 shares of the business services provider’s stock worth $18,799,000 after buying an additional 6,051 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of S&P Global in the third quarter worth approximately $27,170,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SPGI. Morgan Stanley raised their price target on shares of S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. BMO Capital Markets boosted their price target on S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company increased their price objective on S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Mizuho started coverage on S&P Global in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 target price for the company. Finally, Citigroup started coverage on shares of S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $590.86.

S&P Global Trading Down 7.7 %

Shares of SPGI stock opened at $451.47 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $141.69 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 2.41 and a beta of 1.20. S&P Global Inc. has a 1 year low of $405.23 and a 1 year high of $545.39. The firm has a fifty day moving average price of $513.70 and a 200-day moving average price of $509.15.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same quarter last year, the firm earned $3.13 earnings per share. As a group, equities analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.96 per share. This is a boost from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.85%. S&P Global’s dividend payout ratio (DPR) is presently 31.09%.

S&P Global Company Profile

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.