Truist Financial Corp Reduces Stock Position in S&P Global Inc. (NYSE:SPGI)

Truist Financial Corp cut its stake in S&P Global Inc. (NYSE:SPGI) by 16.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,539 shares of the business services provider’s stock after selling 34,361 shares during the quarter. Truist Financial Corp’s holdings in S&P Global were worth $79,091,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. D.B. Root & Company LLC raised its holdings in S&P Global by 3.6% in the 4th quarter. D.B. Root & Company LLC now owns 662 shares of the business services provider’s stock worth $292,000 after purchasing an additional 23 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in S&P Global by 3.3% in the 4th quarter. Mayflower Financial Advisors LLC now owns 714 shares of the business services provider’s stock worth $315,000 after purchasing an additional 23 shares in the last quarter. Allworth Financial LP raised its holdings in S&P Global by 1.8% in the 4th quarter. Allworth Financial LP now owns 1,356 shares of the business services provider’s stock worth $598,000 after purchasing an additional 24 shares in the last quarter. Oakworth Capital Inc. raised its holdings in S&P Global by 31.2% in the 4th quarter. Oakworth Capital Inc. now owns 101 shares of the business services provider’s stock worth $44,000 after purchasing an additional 24 shares in the last quarter. Finally, Independence Bank of Kentucky raised its holdings in S&P Global by 1.7% in the 4th quarter. Independence Bank of Kentucky now owns 1,487 shares of the business services provider’s stock worth $655,000 after purchasing an additional 25 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

S&P Global Stock Up 0.1 %

NYSE:SPGI traded up $0.28 on Friday, reaching $415.78. 1,611,466 shares of the stock traded hands, compared to its average volume of 1,323,956. The company has a market capitalization of $133.16 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 2.36 and a beta of 1.15. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $461.16. The company’s fifty day simple moving average is $423.79 and its 200 day simple moving average is $417.41.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.33. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. Equities analysts predict that S&P Global Inc. will post 13.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on SPGI shares. Raymond James upped their price objective on shares of S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Erste Group Bank reiterated a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Oppenheimer increased their price target on shares of S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus increased their price target 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. Finally, Barclays increased their price target 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $462.60.

Insider Activity

In other news, CEO Douglas L. Peterson sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $424.74, for a total transaction of $2,548,440.00. Following the sale, the chief executive officer now owns 162,530 shares of the company’s stock, valued at approximately $69,032,992.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

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.