Dock Street Asset Management Inc. Sells 1,179 Shares of S&P Global Inc. (NYSE:SPGI)

Dock Street Asset Management Inc. lowered its position in S&P Global Inc. (NYSE:SPGI) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,229 shares of the business services provider’s stock after selling 1,179 shares during the period. S&P Global accounts for about 2.2% of Dock Street Asset Management Inc.’s holdings, making the stock its 17th biggest position. Dock Street Asset Management Inc.’s holdings in S&P Global were worth $16,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. RFG Advisory LLC bought a new position in shares of S&P Global in the first quarter valued at approximately $207,000. Riverview Trust Co bought a new position in shares of S&P Global in the first quarter valued at approximately $45,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of S&P Global by 5.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 7,082 shares of the business services provider’s stock valued at $3,013,000 after purchasing an additional 335 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of S&P Global by 16.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,047 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 145 shares in the last quarter. Finally, Elevated Capital Advisors LLC lifted its holdings in shares of S&P Global by 6.8% in the first quarter. Elevated Capital Advisors LLC now owns 1,639 shares of the business services provider’s stock valued at $697,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance

NYSE:SPGI traded down $9.20 during trading hours on Tuesday, reaching $513.99. The stock had a trading volume of 285,715 shares, compared to its average volume of 1,192,710. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $533.29. The stock has a 50 day simple moving average of $512.98 and a 200 day simple moving average of $469.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $160.83 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period last year, the company earned $3.12 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, research analysts forecast that S&P Global Inc. will post 14.61 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 26th. 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 on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the transaction, the chief executive officer now owns 154,912 shares in the company, valued at approximately $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the business’s 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock valued at $8,645,727 over the last three months. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SPGI. Stifel Nicolaus raised their target price on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America increased their price target on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. BMO Capital Markets increased their price target on S&P Global from $537.00 to $589.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Wells Fargo & Company increased their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI initiated coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target for the company. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $565.17.

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.