New Covenant Trust Company N.A. Invests $178,000 in S&P Global Inc. (NYSE:SPGI)

New Covenant Trust Company N.A. bought a new position in S&P Global Inc. (NYSE:SPGI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 419 shares of the business services provider’s stock, valued at approximately $178,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Wealth Management Group LLC acquired a new position in shares of S&P Global in the fourth quarter valued at approximately $26,000. Pineridge Advisors LLC acquired a new position in shares of S&P Global in the fourth quarter valued at approximately $26,000. Oliver Lagore Vanvalin Investment Group increased its position in S&P Global by 64.1% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 25 shares during the period. Frazier Financial Advisors LLC acquired a new stake in S&P Global during the 4th quarter valued at approximately $36,000. Finally, Palisade Asset Management LLC acquired a new stake in S&P Global during the 1st quarter valued at approximately $37,000. Institutional investors own 87.17% of the company’s stock.

Insider Activity

In related news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the sale, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the transaction, the insider now directly owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the sale, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at $715,205.25. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SPGI shares. Morgan Stanley increased their price target on S&P Global from $500.00 to $510.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. JPMorgan Chase & Co. increased their price target on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays increased their price target on S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America increased their target price on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer increased their target price on S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $526.73.

S&P Global Price Performance

Shares of SPGI traded up $5.50 during trading hours on Thursday, reaching $490.23. 1,043,579 shares of the company’s stock traded hands, compared to its average volume of 1,261,047. The stock has a market cap of $153.39 billion, a PE ratio of 54.96, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16. The company has a current ratio of 1.03, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The firm’s 50 day simple moving average is $454.65 and its 200-day simple moving average is $438.45. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $502.95.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. S&P Global’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.12 EPS. Equities analysts expect that S&P Global Inc. will post 14.56 EPS for the current year.

S&P Global Dividend Announcement

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

About S&P Global

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.