Richardson Financial Services Inc. Sells 97 Shares of S&P Global Inc. (NYSE:SPGI)

Richardson Financial Services Inc. cut its stake in shares of S&P Global Inc. (NYSE:SPGI) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 947 shares of the business services provider’s stock after selling 97 shares during the quarter. Richardson Financial Services Inc.’s holdings in S&P Global were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lokken Investment Group LLC raised its position in shares of S&P Global by 14.5% during the 2nd quarter. Lokken Investment Group LLC now owns 2,269 shares of the business services provider’s stock valued at $1,012,000 after buying an additional 287 shares in the last quarter. CCLA Investment Management increased its stake in S&P Global by 1.0% in the second quarter. CCLA Investment Management now owns 317,942 shares of the business services provider’s stock valued at $142,528,000 after acquiring an additional 3,181 shares during the last quarter. Waterloo Capital L.P. raised its position in S&P Global by 211.8% during the second quarter. Waterloo Capital L.P. now owns 2,554 shares of the business services provider’s stock valued at $1,139,000 after purchasing an additional 1,735 shares in the last quarter. Blair William & Co. IL lifted its stake in S&P Global by 0.6% during the second quarter. Blair William & Co. IL now owns 190,083 shares of the business services provider’s stock worth $84,777,000 after purchasing an additional 1,148 shares during the last quarter. Finally, O Brien Greene & Co. Inc boosted its holdings in shares of S&P Global by 5.7% in the 2nd quarter. O Brien Greene & Co. Inc now owns 19,149 shares of the business services provider’s stock worth $8,541,000 after purchasing an additional 1,037 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 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 approximately $7,618,662.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction dated 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 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. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SPGI has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their price target on shares of S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Bank of America raised their price objective on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $548.18.

S&P Global Stock Down 0.5 %

Shares of NYSE:SPGI opened at $519.65 on Thursday. The stock’s 50-day moving average is $497.23 and its 200 day moving average is $453.74. The company has a market cap of $162.60 billion, a PE ratio of 58.26, a P/E/G ratio of 2.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $528.02.

S&P Global (NYSE:SPGI) last posted its earnings results 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 return on equity of 13.03% and a net margin of 25.03%. The firm 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 firm earned $3.12 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. Sell-side analysts anticipate that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Dividend Announcement

The business also recently announced 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 dividend payout ratio is 40.81%.

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.