abrdn plc Purchases 13,251 Shares of S&P Global Inc. (NYSE:SPGI)

abrdn plc lifted its holdings in S&P Global Inc. (NYSE:SPGI) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 486,433 shares of the business services provider’s stock after purchasing an additional 13,251 shares during the period. abrdn plc’s holdings in S&P Global were worth $250,138,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SPGI. HWG Holdings LP acquired a new stake in S&P Global in the 2nd quarter worth $27,000. Northwest Investment Counselors LLC bought a new position in S&P Global during the third quarter valued at about $27,000. Sachetta LLC raised its holdings in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of S&P Global in the 2nd quarter worth approximately $31,000. Finally, First Pacific Financial grew its holdings in shares of S&P Global by 49.0% during the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock worth $33,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of SPGI stock opened at $487.24 on Tuesday. The firm has a market cap of $152.46 billion, a price-to-earnings ratio of 54.62, a PEG ratio of 2.76 and a beta of 1.18. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $533.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $513.65 and a 200 day moving average price of $471.60.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 EPS. Research analysts expect that S&P Global Inc. will post 14.79 EPS for the current year.

S&P Global Announces Dividend

The company 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 dividend of $0.91 per share. The ex-dividend date 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 dividend payout ratio is 40.81%.

Wall Street Analyst Weigh In

SPGI has been the subject of a number of recent research reports. UBS Group upped their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday. Barclays raised their price objective on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Morgan Stanley upped their target price on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Bank of America raised their price target on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus increased their target price on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

Insider Buying and Selling at S&P Global

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction dated 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 sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at $715,205.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 17,862 shares of company stock valued at $8,645,727. Company insiders own 0.10% of the company’s stock.

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.