Axxcess Wealth Management LLC Boosts Stock Position in S&P Global Inc. (NYSE:SPGI)

Axxcess Wealth Management LLC increased its stake in S&P Global Inc. (NYSE:SPGI) by 28.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,640 shares of the business services provider’s stock after acquiring an additional 582 shares during the period. Axxcess Wealth Management LLC’s holdings in S&P Global were worth $1,177,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted its position in shares of S&P Global by 15.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,403,726 shares of the business services provider’s stock worth $618,369,000 after purchasing an additional 190,758 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of S&P Global by 107.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock worth $2,798,000 after acquiring an additional 2,962 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of S&P Global by 1.1% in the 4th quarter. Stifel Financial Corp now owns 475,930 shares of the business services provider’s stock valued at $209,670,000 after acquiring an additional 5,087 shares during the last quarter. AAFMAA Wealth Management & Trust LLC acquired a new stake in shares of S&P Global during the 1st quarter worth about $1,222,000. Finally, Quadrature Capital Ltd purchased a new stake in S&P Global during the first quarter worth approximately $2,236,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SPGI. BMO Capital Markets raised their price objective on shares of S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley increased their target price on shares of S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Stifel Nicolaus boosted their price target on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, UBS Group boosted their target price on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $548.18.

S&P Global Trading Down 0.5 %

NYSE:SPGI opened at $519.65 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’s 50 day simple moving average is $497.23 and its 200-day simple moving average is $453.74. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $528.02. The firm has a market cap of $162.60 billion, a P/E ratio of 58.26, a PEG ratio of 2.68 and a beta of 1.17.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the company posted $3.12 EPS. S&P Global’s revenue was up 14.4% compared to the same quarter last year. Equities analysts anticipate that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Dividend Announcement

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

Insider Buying and Selling at S&P Global

In other news, insider Edouard Tavernier sold 500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the transaction, the insider now directly owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, 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 transaction of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at $715,205.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edouard Tavernier sold 500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is owned by corporate insiders.

S&P Global 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.