Penobscot Investment Management Company Inc. Cuts Position in S&P Global Inc. (NYSE:SPGI)

Penobscot Investment Management Company Inc. lowered its position in S&P Global Inc. (NYSE:SPGI) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,611 shares of the business services provider’s stock after selling 313 shares during the quarter. S&P Global makes up about 1.4% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 24th biggest holding. Penobscot Investment Management Company Inc.’s holdings in S&P Global were worth $8,263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiduciary Alliance LLC acquired a new stake in shares of S&P Global during the 2nd quarter worth about $27,000. Resources Management Corp CT ADV acquired a new stake in S&P Global during the first quarter worth approximately $28,000. Addison Advisors LLC raised its holdings in S&P Global by 74.5% during the first quarter. Addison Advisors LLC now owns 89 shares of the business services provider’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. ZRC Wealth Management LLC acquired a new position in shares of S&P Global in the 1st quarter valued at $37,000. Finally, Archer Investment Corp purchased a new position in shares of S&P Global in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

S&P Global Trading Up 0.6 %

NYSE SPGI traded up $2.37 during mid-day trading on Wednesday, reaching $406.28. 105,535 shares of the stock were exchanged, compared to its average volume of 1,230,561. S&P Global Inc. has a 1-year low of $321.14 and a 1-year high of $428.65. The business’s fifty day simple moving average is $372.02 and its 200 day simple moving average is $380.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $128.71 billion, a PE ratio of 52.25, a PEG ratio of 2.49 and a beta of 1.13.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $3.60 dividend on an annualized basis and a yield of 0.89%. S&P Global’s payout ratio is 46.57%.

Insider Buying and Selling

In related news, insider Saugata Saha sold 200 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $382.00, for a total value of $76,400.00. Following the transaction, the insider now directly owns 1,134 shares of the company’s stock, valued at approximately $433,188. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SPGI shares. Morgan Stanley decreased their target price on S&P Global from $450.00 to $424.00 and set an “overweight” rating for the company in a research report on Tuesday, October 3rd. Robert W. Baird decreased their price objective on S&P Global from $460.00 to $451.00 and set an “outperform” rating for the company in a report on Friday, July 28th. TheStreet cut shares of S&P Global from a “b” rating to a “c+” rating in a report on Thursday, July 27th. Wolfe Research began coverage on shares of S&P Global in a research report on Thursday, September 14th. They set an “outperform” rating and a $453.00 price objective on the stock. Finally, Raymond James dropped their price target on S&P Global from $421.00 to $403.00 and set an “outperform” rating on the stock in a research report on Thursday, October 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $420.18.

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 six segments: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.