Kayne Anderson Rudnick Investment Management LLC Sells 2,758 Shares of S&P Global Inc. (NYSE:SPGI)

Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of S&P Global Inc. (NYSE:SPGI) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,039 shares of the business services provider’s stock after selling 2,758 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in S&P Global were worth $24,994,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SPGI. Pineridge Advisors LLC acquired a new position in S&P Global during the fourth quarter worth $26,000. Sachetta LLC lifted its position in S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after buying an additional 30 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of S&P Global during the 2nd quarter worth about $31,000. First Pacific Financial grew its holdings in shares of S&P Global by 49.0% in the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 24 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of S&P Global in the second quarter valued at about $36,000. 87.17% of the stock is owned by institutional investors.

Insider Transactions at S&P Global

In related news, Director Robert P. Kelly sold 7,662 shares of the firm’s 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 transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Douglas L. Peterson sold 7,000 shares of the company’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 completion of the sale, the chief executive officer now directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $3,687,567.36. Following the sale, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is currently owned by corporate insiders.

S&P Global Stock Down 0.1 %

S&P Global stock opened at $523.67 on Friday. The company’s 50-day moving average price is $499.16 and its two-hundred day moving average price is $455.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a market cap of $163.86 billion, a P/E ratio of 58.71, a P/E/G ratio of 2.68 and a beta of 1.17. 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 announced its 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 company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.12 earnings per share. As a group, analysts expect that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SPGI shares. Bank of America increased their price target on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus boosted their target price on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets upped 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 report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised shares of S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. Two equities 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, S&P Global currently has a consensus rating of “Moderate Buy” and an average target price 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.