HM Payson & Co. reduced its holdings in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 16.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,512 shares of the business services provider’s stock after selling 22,841 shares during the quarter. HM Payson & Co.’s holdings in S&P Global were worth $61,743,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of SPGI. Swedbank AB purchased a new stake in S&P Global during the first quarter worth approximately $351,774,000. International Assets Investment Management LLC boosted its stake in shares of S&P Global by 174,815.4% in the third quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after purchasing an additional 466,757 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of S&P Global by 352.2% in the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after purchasing an additional 360,909 shares during the period. Third Point LLC purchased a new position in shares of S&P Global in the first quarter valued at $142,526,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of S&P Global by 13.5% in the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after purchasing an additional 298,645 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently weighed in on SPGI shares. JPMorgan Chase & Co. decreased their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company upped their target price on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. UBS Group upped their target price on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Oppenheimer upped their price target on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada upped their price target on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $571.31.
S&P Global Stock Performance
Shares of S&P Global stock traded down $1.95 during trading hours on Thursday, reaching $483.99. The company’s stock had a trading volume of 30,998 shares, compared to its average volume of 1,195,127. The company’s 50 day simple moving average is $513.17 and its 200 day simple moving average is $472.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. S&P Global Inc. has a one year low of $342.93 and a one year high of $533.29. The stock has a market cap of $151.44 billion, a P/E ratio of 54.49, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18.
S&P Global (NYSE:SPGI – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period last year, the firm posted $3.21 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts expect that S&P Global Inc. will post 14.79 EPS for the current fiscal year.
S&P Global Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.75%. S&P Global’s payout ratio is currently 40.81%.
Insider Transactions at S&P Global
In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the sale, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the sale, the chief executive officer now directly owns 154,912 shares in the company, valued at $74,915,443.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
S&P Global 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.
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