Brendel Financial Advisors LLC Sells 71 Shares of S&P Global Inc. (NYSE:SPGI)

Brendel Financial Advisors LLC trimmed its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,807 shares of the business services provider’s stock after selling 71 shares during the quarter. S&P Global accounts for approximately 2.3% of Brendel Financial Advisors LLC’s portfolio, making the stock its 8th biggest position. Brendel Financial Advisors LLC’s holdings in S&P Global were worth $4,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB purchased a new stake in shares of S&P Global in the 1st quarter valued at $351,774,000. Assenagon Asset Management S.A. boosted its stake in shares of S&P Global by 352.2% in the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after purchasing an additional 360,909 shares during the period. Third Point LLC purchased a new stake in S&P Global during the 1st quarter worth approximately $142,526,000. Ameriprise Financial Inc. boosted its position in S&P Global by 13.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after buying an additional 298,645 shares during the period. Finally, Capital International Investors boosted its position in S&P Global by 5.3% in the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after buying an additional 291,712 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Oppenheimer increased their price objective on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Barclays upped 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 note on Friday, September 13th. Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Morgan Stanley lifted their price objective on shares of S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI initiated coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $560.83.

Insider Buying and Selling

In other news, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the firm’s 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 $1,327,185.00. Following the sale, the executive vice president now owns 1,455 shares in the company, valued at approximately $715,205.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock worth $8,645,727 in the last quarter. Company insiders own 0.10% of the company’s stock.

S&P Global Stock Performance

Shares of S&P Global stock traded down $4.53 on Thursday, reaching $516.94. 218,434 shares of the stock were exchanged, compared to its average volume of 1,199,927. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $528.02. The business has a fifty day moving average price of $506.53 and a two-hundred day moving average price of $463.28. The firm has a market capitalization of $161.75 billion, a PE ratio of 58.46, a PEG ratio of 2.91 and a beta of 1.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last posted 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. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the firm earned $3.12 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, research analysts anticipate that S&P Global Inc. will post 14.57 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) 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.