Meyer Handelman Co. Sells 4,026 Shares of S&P Global Inc. (NYSE:SPGI)

Meyer Handelman Co. cut its holdings in S&P Global Inc. (NYSE:SPGI) by 30.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,400 shares of the business services provider’s stock after selling 4,026 shares during the period. Meyer Handelman Co.’s holdings in S&P Global were worth $3,999,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Janney Capital Management LLC lifted its holdings in S&P Global by 2.7% in the 4th quarter. Janney Capital Management LLC now owns 17,429 shares of the business services provider’s stock worth $7,678,000 after buying an additional 461 shares during the period. Arkadios Wealth Advisors boosted its holdings in S&P Global by 6.1% in the fourth quarter. Arkadios Wealth Advisors now owns 1,523 shares of the business services provider’s stock valued at $671,000 after acquiring an additional 87 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in S&P Global by 15.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,403,726 shares of the business services provider’s stock valued at $618,369,000 after acquiring an additional 190,758 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of S&P Global by 54.2% during the 4th quarter. Citizens Financial Group Inc. RI now owns 3,172 shares of the business services provider’s stock valued at $1,397,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new position in shares of S&P Global during the fourth quarter valued at about $1,644,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Trading Up 0.1 %

Shares of NYSE:SPGI opened at $439.22 on Friday. The stock’s 50-day simple moving average is $427.84 and its two-hundred day simple moving average is $430.81. The stock has a market capitalization of $137.43 billion, a price-to-earnings ratio of 49.24, a PEG ratio of 2.44 and a beta of 1.15. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $461.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.33. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. Analysts expect that S&P Global Inc. will post 14.1 EPS for the current year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Wednesday, May 29th. S&P Global’s dividend payout ratio (DPR) is 40.81%.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of research analyst reports. Barclays raised their target price on S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $500.00 target price on shares of S&P Global in a research report on Friday. Oppenheimer lifted their price target on S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Erste Group Bank reaffirmed a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Finally, BMO Capital Markets increased their price target on shares of S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $467.89.

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.