Summit Global Investments Sells 575 Shares of S&P Global Inc. (NYSE:SPGI)

Summit Global Investments reduced its position in S&P Global Inc. (NYSE:SPGI) by 42.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 764 shares of the business services provider’s stock after selling 575 shares during the quarter. Summit Global Investments’ holdings in S&P Global were worth $341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the business. J.W. Cole Advisors Inc. bought a new stake in S&P Global during the 4th quarter valued at $201,000. Verdence Capital Advisors LLC boosted its stake in S&P Global by 4.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,359 shares of the business services provider’s stock valued at $599,000 after purchasing an additional 55 shares during the last quarter. MCF Advisors LLC lifted its stake in S&P Global by 141.7% during the 4th quarter. MCF Advisors LLC now owns 87 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 51 shares during the period. RWA Wealth Partners LLC purchased a new stake in S&P Global in the fourth quarter worth approximately $3,068,000. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of S&P Global by 37.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 8,044 shares of the business services provider’s stock worth $3,544,000 after acquiring an additional 2,174 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPGI. JPMorgan Chase & Co. increased their target price on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. UBS Group boosted their price target on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. BMO Capital Markets raised their price objective 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. Royal Bank of Canada upped their price target on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Bank of America boosted their price objective on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $530.75.

Insider Buying and Selling

In other news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now owns 15,830 shares in the company, valued at $7,618,662.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is currently owned by company insiders.

S&P Global Stock Up 0.1 %

Shares of S&P Global stock traded up $0.50 during trading hours on Wednesday, reaching $498.36. 339,158 shares of the company were exchanged, compared to its average volume of 1,240,599. The stock’s fifty day moving average is $469.34 and its 200 day moving average is $442.14. S&P Global Inc. has a 1 year low of $340.49 and a 1 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. The firm has a market cap of $155.94 billion, a PE ratio of 55.71, a PEG ratio of 2.55 and a beta of 1.16.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.37. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. S&P Global’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the business posted $3.12 EPS. As a group, equities research analysts forecast that S&P Global Inc. will post 14.58 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.73%. The ex-dividend date is Tuesday, August 27th. S&P Global’s dividend payout ratio (DPR) is 40.81%.

S&P Global 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.