S&P Global Inc. (NYSE:SPGI) Shares Sold by Sterling Investment Management LLC

Sterling Investment Management LLC lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,450 shares of the business services provider’s stock after selling 348 shares during the quarter. S&P Global makes up about 2.1% of Sterling Investment Management LLC’s holdings, making the stock its 14th biggest position. Sterling Investment Management LLC’s holdings in S&P Global were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPGI. Swedbank AB acquired a new stake in shares of S&P Global in the first quarter valued at approximately $351,774,000. Assenagon Asset Management S.A. boosted its stake in shares of S&P Global by 352.2% during the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after buying an additional 360,909 shares during the period. Third Point LLC acquired a new position in S&P Global in the 1st quarter valued at about $142,526,000. Ameriprise Financial Inc. raised its stake in S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after acquiring an additional 298,645 shares during the last quarter. Finally, Capital International Investors lifted its position in S&P Global by 5.3% during the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock worth $2,464,951,000 after acquiring an additional 291,712 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SPGI shares. Wells Fargo & Company increased their price target on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. BMO Capital Markets raised their target price on S&P Global from $537.00 to $589.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Oppenheimer upped their price target on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley raised their price objective 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. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $565.17.

S&P Global Stock Up 1.1 %

Shares of NYSE:SPGI opened at $524.80 on Monday. 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 cap of $164.21 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 2.91 and a beta of 1.18. The stock’s 50-day moving average price is $512.21 and its two-hundred day moving average price is $468.48. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $533.29.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the company earned $3.12 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, research analysts forecast that S&P Global Inc. will post 14.61 EPS for the current year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued 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 0.69%. S&P Global’s payout ratio is 40.81%.

Insider Buying and Selling

In other news, Director Robert P. Kelly sold 7,662 shares of the firm’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 in the company, valued at $7,618,662.40. 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 this hyperlink. In other news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction 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 transaction, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction on Wednesday, July 31st. The shares were 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 in the company, valued at $6,496,816.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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.

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.