Truist Financial Corp Sells 2,314 Shares of S&P Global Inc. (NYSE:SPGI)

Truist Financial Corp reduced its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 92,842 shares of the business services provider's stock after selling 2,314 shares during the period. Truist Financial Corp's holdings in S&P Global were worth $46,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new stake in shares of S&P Global in the 3rd quarter valued at $27,000. First Personal Financial Services bought a new position in shares of S&P Global during the 3rd quarter worth about $29,000. Capital Performance Advisors LLP acquired a new stake in shares of S&P Global in the 3rd quarter valued at about $31,000. Human Investing LLC bought a new stake in S&P Global in the 4th quarter valued at about $30,000. Finally, Voisard Asset Management Group Inc. raised its stake in S&P Global by 77.1% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider's stock worth $32,000 after buying an additional 27 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Stock Performance

SPGI stock traded down $2.38 during mid-day trading on Friday, hitting $533.05. The company had a trading volume of 1,335,113 shares, compared to its average volume of 1,359,665. The stock's fifty day moving average price is $509.53 and its two-hundred day moving average price is $508.60. S&P Global Inc. has a 12 month low of $407.69 and a 12 month high of $545.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $164.07 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20.

S&P Global (NYSE:SPGI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same quarter in the previous year, the business posted $3.13 EPS. On average, analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.96 per share. This is an increase from S&P Global's previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, February 26th. S&P Global's payout ratio is currently 29.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SPGI. Morgan Stanley raised their price objective on S&P Global from $595.00 to $600.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price objective on shares of S&P Global from $600.00 to $585.00 and set an "overweight" rating on the stock in a research note 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 for the company. Wells Fargo & Company raised their price target on shares of S&P Global from $617.00 to $633.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, UBS Group boosted their price objective on S&P Global from $610.00 to $640.00 and gave the stock a "buy" rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $590.23.

About S&P Global

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.