OLD National Bancorp IN Has $1.44 Million Stock Position in S&P Global Inc. (NYSE:SPGI)

OLD National Bancorp IN lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,233 shares of the business services provider’s stock after selling 239 shares during the period. OLD National Bancorp IN’s holdings in S&P Global were worth $1,442,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in S&P Global during the fourth quarter worth approximately $1,652,862,000. Swedbank AB acquired a new position in shares of S&P Global during the 1st quarter worth approximately $351,774,000. Capital International Investors raised its stake in S&P Global by 12.6% in the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after acquiring an additional 616,732 shares during the period. Third Point LLC acquired a new stake in S&P Global during the 1st quarter valued at $142,526,000. Finally, Mackenzie Financial Corp boosted its position in S&P Global by 24.4% during the fourth quarter. Mackenzie Financial Corp now owns 1,502,798 shares of the business services provider’s stock worth $662,013,000 after purchasing an additional 294,896 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on SPGI shares. UBS Group lifted their target price on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Bank of America raised their price objective on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Royal Bank of Canada upped their target price on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Morgan Stanley increased their target price on S&P Global from $500.00 to $510.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Finally, BMO Capital Markets boosted their price target on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $526.73.

Insider Buying and Selling at S&P Global

In other news, 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 value of $3,385,200.00. Following the transaction, the chief executive officer now owns 154,912 shares in the company, valued at approximately $74,915,443.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction that occurred 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 sale, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were 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 directly owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock worth $8,645,727 over the last three months. Corporate insiders own 0.10% of the company’s stock.

S&P Global Price Performance

Shares of NYSE SPGI traded up $1.32 during mid-day trading on Friday, reaching $488.51. The company had a trading volume of 600,287 shares, compared to its average volume of 1,258,101. The firm has a market cap of $152.85 billion, a price-to-earnings ratio of 54.77, a PEG ratio of 2.55 and a beta of 1.16. The business’s 50-day simple moving average is $460.85 and its 200 day simple moving average is $440.22. S&P Global Inc. has a one year low of $340.49 and a one year high of $502.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 1.03.

S&P Global (NYSE:SPGI) last released its 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 quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm earned $3.12 EPS. On average, research analysts predict that S&P Global Inc. will post 14.58 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a yield of 0.75%. S&P Global’s dividend payout ratio (DPR) 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.