Main Street Financial Solutions LLC Has $2.55 Million Holdings in S&P Global Inc. (NYSE:SPGI)

Main Street Financial Solutions LLC lifted its position in shares of S&P Global Inc. (NYSE:SPGI) by 13.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,708 shares of the business services provider’s stock after purchasing an additional 680 shares during the quarter. Main Street Financial Solutions LLC’s holdings in S&P Global were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SPGI. Norges Bank acquired a new stake in S&P Global in the 4th quarter valued at $1,652,862,000. Swedbank AB acquired a new stake in S&P Global in the 1st quarter valued at $351,774,000. Capital International Investors boosted its stake in S&P Global by 12.6% in the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after buying an additional 616,732 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in S&P Global by 352.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after buying an additional 360,909 shares in the last quarter. Finally, Third Point LLC acquired a new stake in S&P Global in the 1st quarter valued at $142,526,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Trading Down 0.8 %

NYSE:SPGI opened at $515.81 on Thursday. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $521.50. The business’s 50-day moving average price is $490.75 and its two-hundred day moving average price is $450.52. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $161.40 billion, a price-to-earnings ratio of 57.83, a PEG ratio of 2.65 and a beta of 1.17.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the firm posted $3.12 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities analysts expect that S&P Global Inc. will post 14.58 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, August 27th. S&P Global’s payout ratio is 40.81%.

Analyst Ratings Changes

SPGI has been the topic of several research analyst reports. BMO Capital Markets increased their target price on S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Oppenheimer increased their target price on S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley increased their target price on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Barclays increased their target price on S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $535.25.

Insider Buying and Selling at S&P Global

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the 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 transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at $715,205.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction 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. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is currently owned by company insiders.

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.