Eastern Bank Boosts Stake in S&P Global Inc. (NYSE:SPGI)

Eastern Bank grew its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,157 shares of the business services provider's stock after acquiring an additional 1,530 shares during the period. Eastern Bank's holdings in S&P Global were worth $24,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First National Corp MA ADV grew its position in shares of S&P Global by 0.9% during the 3rd quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider's stock worth $1,211,000 after purchasing an additional 20 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its holdings in S&P Global by 25.0% in the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider's stock valued at $51,000 after buying an additional 20 shares during the period. Trust Point Inc. increased its stake in S&P Global by 1.4% in the third quarter. Trust Point Inc. now owns 1,404 shares of the business services provider's stock valued at $725,000 after acquiring an additional 20 shares during the last quarter. Headinvest LLC raised its holdings in shares of S&P Global by 2.0% during the 3rd quarter. Headinvest LLC now owns 997 shares of the business services provider's stock worth $515,000 after buying an additional 20 shares in the last quarter. Finally, EWA LLC lifted its holdings in shares of S&P Global by 4.2% in the third quarter. EWA LLC now owns 498 shares of the business services provider's stock worth $254,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BMO Capital Markets cut their price target on S&P Global from $589.00 to $564.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Citigroup began coverage on shares of S&P Global in a research report on Friday, December 20th. They set a "buy" rating and a $600.00 target price on the stock. Oppenheimer cut their price target on shares of S&P Global from $590.00 to $580.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Robert W. Baird increased their price objective on S&P Global from $536.00 to $575.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, Stifel Nicolaus lifted their target price on shares of S&P Global from $540.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $583.62.

S&P Global Price Performance

NYSE SPGI traded down $0.56 during trading hours on Monday, hitting $482.16. 1,461,761 shares of the company's stock traded hands, compared to its average volume of 1,322,052. S&P Global Inc. has a 52-week low of $407.69 and a 52-week high of $533.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $149.61 billion, a PE ratio of 42.56, a PEG ratio of 2.53 and a beta of 1.20. The firm's 50-day moving average is $504.58 and its 200-day moving average is $500.12.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the firm posted $3.21 earnings per share. S&P Global's revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that S&P Global Inc. will post 15.24 EPS for the current fiscal year.

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.