FineMark National Bank & Trust increases stake in S&P Global Inc. (NYSE:SPGI)

VaselineSeptember 6, 2024

0 5 minutes read

FineMark National Bank & Trust increased its position in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,637 shares of the business services provider’s stock after purchasing an additional 102 shares during the quarter. FineMark National Bank & Trust’s holdings in S&P Global were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Capital International Investors boosted its holdings in shares of S&P Global by 5.3% in the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after acquiring an additional 291,712 shares during the period. Norges Bank acquired a new position in shares of S&P Global in the 4th quarter valued at $1,652,862,000. Capital World Investors boosted its holdings in shares of S&P Global by 0.5% in the fourth quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock valued at $1,241,706,000 after acquiring an additional 12,644 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of S&P Global by 11.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,624,308 shares of the business services provider’s stock valued at $1,156,060,000 after acquiring an additional 279,633 shares during the period. Finally, Parnassus Investments LLC boosted its position in shares of S&P Global by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 2,467,429 shares of the business services provider’s stock worth $1,086,952,000 , after buying an additional 7,887 shares in the last quarter. 87.17% of the shares are currently held by hedge funds and other institutional investors.

Analysts set new price targets

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price objective on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada raised their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised S&P Global to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Bank of America upped their price objective on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th . Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. S&P Global currently has an average rating of “Moderate Buy” and an average target price of $535.25, according to MarketBeat .

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Insider activity at S&P Global

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the completion of the sale, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. The transaction was disclosed in a filing with the SEC, which is available via this link. In other news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the sale, the executive vice president now directly owns 1,455 shares in the company, valued at $715,205.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, insider Edouard Tavernier sold 500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock worth $8,645,727 over the last 90 days. Corporate insiders own 0.10% of the company’s shares.

Global S&P Stock Performance

Shares of SPGI stock opened at $517.00 on Friday. The stock has a market cap of $161.77 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 2.67 and a beta of 1.16. The company has a 50-day simple moving average of $485.35 and a 200-day simple moving average of $447.98. The company has a quick ratio of 1.03, a current ratio of 1.03, and a debt-to-equity ratio of 0.33. S&P Global Inc. it has a 52-week low of $340.49 and a 52-week high of $518.59.

S&P Global (NYSE:SPGI – Get Free Report ) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. In the same quarter last year, the firm posted EPS of $3.12. The company’s revenue for the quarter was up 14.4% year over year. On average, equities analysts expect that S&P Global Inc. to post 14.57 EPS for the current year.

S&P Global announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be given a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents an annualized dividend of $3.64 and a dividend yield of 0.70%. S&P Global’s dividend payout ratio is currently 40.81%.

S&P Global Company Profile

(Free report)

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics and workflow solutions in the global equity, commodities and auto markets. It operates through the 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.