Orrstown Financial Services Inc. Grows Position in S&P Global Inc. (NYSE:SPGI)

Orrstown Financial Services Inc. grew its stake in S&P Global Inc. (NYSE:SPGI) by 9.3% during the 1st quarter, HoldingsChannel reports. The firm owned 1,431 shares of the business services provider’s stock after buying an additional 122 shares during the quarter. Orrstown Financial Services Inc.’s holdings in S&P Global were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Minot DeBlois Advisors LLC purchased a new position in shares of S&P Global during the 4th quarter valued at approximately $25,000. Anderson Financial Strategies LLC purchased a new position in shares of S&P Global during the 4th quarter valued at approximately $27,000. Human Investing LLC purchased a new position in shares of S&P Global during the 4th quarter valued at approximately $30,000. Noble Wealth Management PBC purchased a new position in shares of S&P Global during the 4th quarter valued at approximately $31,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of S&P Global by 131.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insiders Place Their Bets

In other S&P Global news, EVP Sally Moore sold 500 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the completion of the sale, the executive vice president now directly owns 5,131 shares of the company’s stock, valued at $2,619,016.33. This trade represents a 8.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPGI. Stifel Nicolaus decreased their target price on S&P Global from $629.00 to $603.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird decreased their target price on S&P Global from $616.00 to $589.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Evercore ISI increased their target price on S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Bank of America started coverage on S&P Global in a research report on Thursday, April 10th. They set a “buy” rating and a $600.00 target price on the stock. Finally, Wells Fargo & Company increased their price objective on S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $592.71.

S&P Global Trading Up 0.7%

Shares of SPGI stock opened at $519.58 on Friday. The stock’s fifty day moving average is $492.79 and its two-hundred day moving average is $504.25. 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 capitalization of $159.36 billion, a P/E ratio of 42.07, a PEG ratio of 2.41 and a beta of 1.20. S&P Global Inc. has a fifty-two week low of $425.49 and a fifty-two week high of $545.39.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.14. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the company earned $4.01 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Wednesday, May 28th. S&P Global’s dividend payout ratio (DPR) is presently 30.16%.

S&P Global 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.