Wealth Alliance Reduces Stock Position in S&P Global Inc. (NYSE:SPGI)

Wealth Alliance reduced its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 1.5% in the second quarter, Holdings Channel reports. The institutional investor owned 3,390 shares of the business services provider’s stock after selling 53 shares during the period. Wealth Alliance’s holdings in S&P Global were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pineridge Advisors LLC purchased a new stake in shares of S&P Global during the fourth quarter worth about $26,000. Sachetta LLC lifted its stake in shares of 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 purchasing an additional 30 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of S&P Global in the 2nd quarter valued at approximately $31,000. First Pacific Financial lifted its stake 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 acquiring an additional 24 shares during the last quarter. Finally, Frazier Financial Advisors LLC bought a new stake in shares of S&P Global during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling at S&P Global

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred 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 transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. 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 quarter. 0.10% of the stock is currently owned by insiders.

S&P Global Stock Performance

Shares of SPGI stock opened at $522.41 on Wednesday. The company has a market capitalization of $163.46 billion, a P/E ratio of 58.57, a P/E/G ratio of 2.68 and a beta of 1.17. The business’s 50 day moving average is $496.16 and its two-hundred day moving average is $453.28. The company has a current ratio of 1.03, a quick 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 $528.02.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. S&P Global’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.12 earnings per share. Analysts expect that S&P Global Inc. will post 14.58 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.70%. S&P Global’s payout ratio is currently 40.81%.

Wall Street Analyst Weigh In

Several research analysts have commented on SPGI shares. Royal Bank of Canada raised their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. BMO Capital Markets upped their target price on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Oppenheimer increased their price objective on S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. UBS Group increased their price objective on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Morgan Stanley upped their target price on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and a consensus target price of $548.18.

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.