Crossmark Global Holdings Inc. Cuts Position in S&P Global Inc. (NYSE:SPGI)

Crossmark Global Holdings Inc. trimmed its position in S&P Global Inc. (NYSE:SPGI) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,156 shares of the business services provider’s stock after selling 1,152 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in S&P Global were worth $10,773,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Gilbert & Cook Inc. lifted its holdings in shares of S&P Global by 7.8% in the 4th quarter. Gilbert & Cook Inc. now owns 1,152 shares of the business services provider’s stock worth $507,000 after purchasing an additional 83 shares during the last quarter. Choreo LLC acquired a new position in shares of S&P Global in the 4th quarter worth $239,000. Naviter Wealth LLC purchased a new position in shares of S&P Global during the fourth quarter valued at $262,000. Van ECK Associates Corp grew its holdings in shares of S&P Global by 3.1% during the fourth quarter. Van ECK Associates Corp now owns 7,908 shares of the business services provider’s stock valued at $3,484,000 after buying an additional 237 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of S&P Global by 14.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 12,026 shares of the business services provider’s stock valued at $5,298,000 after buying an additional 1,551 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Transactions at S&P Global

In other news, insider Edouard Tavernier sold 500 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 transaction of $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now directly owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven J. Kemps sold 2,700 shares of the firm’s 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 directly owns 1,455 shares in the company, valued at $715,205.25. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock valued at $8,645,727 over the last three months. Corporate insiders own 0.10% of the company’s stock.

S&P Global Stock Performance

SPGI traded up $5.01 on Friday, hitting $513.06. The company’s stock had a trading volume of 1,245,368 shares, compared to its average volume of 1,237,968. The company’s 50 day simple moving average is $478.61 and its 200-day simple moving average is $444.88. The company has a quick ratio of 0.92, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $514.00. The firm has a market cap of $160.54 billion, a P/E ratio of 57.54, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.12 earnings per share. Analysts forecast that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. S&P Global’s dividend payout ratio is currently 40.81%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SPGI. UBS Group boosted their price target on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Bank of America boosted their target price on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Oppenheimer upped their price objective on S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. BMO Capital Markets increased their price target on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Barclays upped their price objective on shares of S&P Global from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two equities research 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $530.75.

S&P Global Company 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.