Red Spruce Capital LLC Decreases Holdings in S&P Global Inc. (NYSE:SPGI)

Red Spruce Capital LLC trimmed its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,746 shares of the business services provider’s stock after selling 99 shares during the period. Red Spruce Capital LLC’s holdings in S&P Global were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPGI. Oppenheimer & Co. Inc. lifted its position in shares of S&P Global by 8.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 4,024 shares of the business services provider’s stock worth $1,773,000 after purchasing an additional 317 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in shares of S&P Global by 5.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 28,082 shares of the business services provider’s stock worth $12,370,000 after purchasing an additional 1,481 shares during the last quarter. Morningstar Investment Services LLC lifted its position in shares of S&P Global by 126.3% during the fourth quarter. Morningstar Investment Services LLC now owns 2,211 shares of the business services provider’s stock worth $977,000 after purchasing an additional 1,234 shares during the last quarter. Prudential PLC lifted its position in shares of S&P Global by 1.1% during the fourth quarter. Prudential PLC now owns 18,424 shares of the business services provider’s stock worth $8,116,000 after purchasing an additional 207 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of S&P Global by 75.5% during the fourth quarter. Schroder Investment Management Group now owns 89,584 shares of the business services provider’s stock worth $39,464,000 after purchasing an additional 38,534 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Down 0.5 %

S&P Global stock traded down $2.43 during midday trading on Friday, reaching $512.17. The stock had a trading volume of 683,778 shares, compared to its average volume of 1,210,164. The firm’s fifty day simple moving average is $504.86 and its two-hundred day simple moving average is $461.38. S&P Global Inc. has a twelve month low of $340.49 and a twelve month high of $528.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $160.26 billion, a price-to-earnings ratio of 57.42, a PEG ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. Equities analysts anticipate that S&P Global Inc. will post 14.57 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. S&P Global’s dividend payout ratio is currently 40.81%.

Insider Activity

In other news, Director Robert P. Kelly sold 7,662 shares of the firm’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 transaction, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global 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 transaction, the director now owns 15,830 shares in the company, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas L. Peterson sold 7,000 shares of S&P Global 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 transaction, the chief executive officer now owns 154,912 shares in the company, valued at $74,915,443.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of S&P Global to a “strong-buy” rating in a research note on Tuesday, August 13th. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Barclays raised their price target on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley raised their price target on shares of S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, Stifel Nicolaus raised their price target on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $556.58.

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.