Intech Investment Management LLC Buys 5,035 Shares of S&P Global Inc. (NYSE:SPGI)

Intech Investment Management LLC grew its stake in S&P Global Inc. (NYSE:SPGI) by 51.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,896 shares of the business services provider’s stock after acquiring an additional 5,035 shares during the quarter. Intech Investment Management LLC’s holdings in S&P Global were worth $6,644,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SPGI. Pineridge Advisors LLC purchased a new position in S&P Global in the 4th quarter worth approximately $26,000. Sachetta LLC raised its stake in shares of S&P Global by 103.4% in the second 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 last quarter. Hobbs Group Advisors LLC bought a new position in shares of S&P Global during the second quarter valued at $31,000. First Pacific Financial boosted its position in shares of S&P Global by 49.0% during 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 last quarter. Finally, Ridgewood Investments LLC bought a new stake in S&P Global in the 2nd quarter worth about $36,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Down 0.1 %

SPGI stock opened at $523.67 on Friday. The business’s 50-day moving average price is $499.16 and its 200-day moving average price is $455.14. The stock has a market cap of $163.86 billion, a P/E ratio of 58.71, a PEG ratio of 2.68 and a beta of 1.17. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a twelve month low of $340.49 and a twelve month high of $528.02.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $3.12 earnings per share. On average, equities research analysts forecast that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Dividend Announcement

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

Insider Transactions at S&P Global

In related 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 transaction of $245,775.00. Following the sale, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the transaction, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction dated 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 sale, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock valued at $8,645,727 over the last 90 days. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on SPGI shares. JPMorgan Chase & Co. upped their target price on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays lifted their target price on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. BMO Capital Markets increased their price target on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price objective on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, S&P Global presently has an average rating of “Moderate Buy” and an average price target of $548.18.

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.