Townsend Asset Management Corp NC ADV Trims Stock Position in S&P Global Inc. (NYSE:SPGI)

Townsend Asset Management Corp NC ADV decreased its holdings in S&P Global Inc. (NYSE:SPGI) by 30.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,349 shares of the business services provider’s stock after selling 583 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in S&P Global were worth $697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. HWG Holdings LP purchased a new position in S&P Global in the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new position in shares of S&P Global in the third quarter worth about $27,000. Sachetta LLC boosted its holdings in S&P Global by 103.4% in the second 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 acquired a new stake in S&P Global during the 2nd quarter valued at approximately $31,000. Finally, First Pacific Financial grew its stake in S&P Global by 49.0% during the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SPGI. Royal Bank of Canada increased their target price on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Bank of America increased their price objective on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. BMO Capital Markets boosted their target price on shares of S&P Global from $537.00 to $589.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price target on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Oppenheimer upped their price objective on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $565.17.

S&P Global Trading Down 0.3 %

S&P Global stock opened at $523.19 on Tuesday. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $533.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $163.71 billion, a price-to-earnings ratio of 58.65, a PEG ratio of 2.91 and a beta of 1.18. The firm has a 50-day moving average price of $512.98 and a two-hundred day moving average price of $469.15.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. The business 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 was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.12 earnings per share. Sell-side analysts expect that S&P Global Inc. will post 14.61 earnings per share for the current year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.70%. S&P Global’s payout ratio is 40.81%.

Insiders Place Their Bets

In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction on 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 sale, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Edouard Tavernier sold 500 shares of the firm’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 transaction of $245,775.00. Following the completion of the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the company’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 completion of the transaction, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock worth $8,645,727 over the last ninety days. Company insiders own 0.10% of the company’s stock.

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.