Carderock Capital Management Inc. Boosts Holdings in S&P Global Inc. (NYSE:SPGI)

Carderock Capital Management Inc. increased its stake in S&P Global Inc. (NYSE:SPGI) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,929 shares of the business services provider’s stock after acquiring an additional 474 shares during the period. S&P Global makes up 2.4% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 11th largest position. Carderock Capital Management Inc.’s holdings in S&P Global were worth $10,296,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. HWG Holdings LP purchased a new stake in S&P Global during the second quarter valued at about $27,000. Sachetta LLC grew its holdings in shares of S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after purchasing an additional 30 shares during the period. Hobbs Group Advisors LLC acquired a new stake in S&P Global during the 2nd quarter worth approximately $31,000. First Pacific Financial raised its holdings in S&P Global by 49.0% in the second quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after buying an additional 24 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in S&P Global during the second quarter valued at approximately $36,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Steven J. Kemps sold 2,700 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 value of $1,327,185.00. Following the completion of the sale, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other S&P Global news, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven J. Kemps sold 2,700 shares of the company’s 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 directly owns 1,455 shares of the company’s stock, valued at $715,205.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock valued at $8,645,727 in the last quarter. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Evercore ISI started coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective for the company. UBS Group raised their price objective on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays boosted their price objective on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price target on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and a consensus target price of $565.17.

S&P Global Stock Performance

S&P Global stock opened at $529.18 on Thursday. 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 stock has a 50 day moving average of $510.85 and a 200-day moving average of $466.86. The stock has a market cap of $165.58 billion, a P/E ratio of 59.33, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $533.29.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 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 the consensus estimate of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.12 EPS. On average, analysts expect that S&P Global Inc. will post 14.61 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.69%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 40.81%.

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.