Newport Trust Company LLC Sells 26,325 Shares of S&P Global Inc. (NYSE:SPGI)

Newport Trust Company LLC trimmed its position in shares of S&P Global Inc. (NYSE:SPGI) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,149,337 shares of the business services provider’s stock after selling 26,325 shares during the quarter. S&P Global accounts for approximately 1.3% of Newport Trust Company LLC’s holdings, making the stock its 15th largest position. Newport Trust Company LLC owned approximately 0.37% of S&P Global worth $512,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sapient Capital LLC raised its position in S&P Global by 2.5% in the second quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock worth $385,000 after acquiring an additional 21 shares during the period. Chatham Capital Group Inc. lifted its position in S&P Global by 0.5% during the second quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock valued at $2,007,000 after purchasing an additional 21 shares in the last quarter. D.B. Root & Company LLC lifted its position in S&P Global by 2.4% during the second quarter. D.B. Root & Company LLC now owns 955 shares of the business services provider’s stock valued at $426,000 after purchasing an additional 22 shares in the last quarter. Modera Wealth Management LLC increased its position in S&P Global by 2.3% in the second quarter. Modera Wealth Management LLC now owns 960 shares of the business services provider’s stock worth $428,000 after buying an additional 22 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in shares of S&P Global by 1.0% in the second quarter. Foundations Investment Advisors LLC now owns 2,133 shares of the business services provider’s stock worth $951,000 after buying an additional 22 shares during the period. 87.17% of the stock is owned by institutional investors.

S&P Global Stock Performance

Shares of NYSE:SPGI opened at $524.32 on Friday. 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 company has a market capitalization of $164.06 billion, a price-to-earnings ratio of 58.78, a PEG ratio of 2.68 and a beta of 1.17. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $528.02. The firm’s 50-day moving average is $498.25 and its 200 day moving average is $454.23.

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

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th were issued a $0.91 dividend. The ex-dividend date was Tuesday, August 27th. 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, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the transaction, the chief executive officer now owns 154,912 shares in the company, valued at $74,915,443.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at $74,915,443.20. 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 over the last quarter. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of analyst reports. Barclays increased their price objective on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Royal Bank of Canada raised their price target on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. BMO Capital Markets upped their price objective on S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Oppenheimer boosted their price target on S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $548.18.

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.