Profund Advisors LLC Decreases Position in S&P Global Inc. (NYSE:SPGI)

Profund Advisors LLC decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,796 shares of the business services provider’s stock after selling 125 shares during the quarter. Profund Advisors LLC’s holdings in S&P Global were worth $2,139,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Pineridge Advisors LLC bought a new position in S&P Global in the fourth quarter worth approximately $26,000. Sachetta LLC lifted its holdings in shares of S&P Global by 103.4% during the 2nd 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 purchased a new stake in shares of S&P Global during the 2nd quarter valued at $31,000. First Pacific Financial lifted its holdings in shares of 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 during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of S&P Global during the 2nd quarter valued at $36,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several analyst reports. BMO Capital Markets increased their price objective on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Oppenheimer raised their target price on S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Barclays raised their target price on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Stifel Nicolaus raised their target price on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley raised their target price on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $548.18.

Insider Buying and Selling at S&P Global

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other S&P Global news, 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 transaction of $3,687,567.36. Following the completion of the transaction, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction 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 $6,496,816.35. 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 company insiders.

S&P Global Trading Down 0.1 %

SPGI stock opened at $523.67 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 business’s 50-day moving average is $499.16 and its 200 day moving average is $455.35. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $528.02. The stock has a market cap of $163.86 billion, a price-to-earnings ratio of 58.71, a PEG ratio of 2.68 and a beta of 1.17.

S&P Global (NYSE:SPGI) last released its quarterly earnings results 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. The firm had revenue of $3.55 billion for 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 business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.12 EPS. On average, sell-side analysts anticipate that S&P Global Inc. will post 14.58 EPS for the current fiscal year.

S&P Global Dividend Announcement

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

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.