Choreo LLC Invests $3.93 Million in S&P Global Inc. (NYSE:SPGI)

Choreo LLC acquired a new stake in shares of S&P Global Inc. (NYSE:SPGI) during the second quarter, HoldingsChannel reports. The fund acquired 8,813 shares of the business services provider’s stock, valued at approximately $3,933,000.

Several other institutional investors also recently bought and sold shares of SPGI. Private Wealth Management Group LLC bought a new position in S&P Global in the fourth quarter worth about $26,000. Pineridge Advisors LLC bought a new position in shares of S&P Global during the 4th quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in S&P Global during the second quarter valued at approximately $31,000. First Pacific Financial boosted its stake in S&P Global by 49.0% in the second 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, Frazier Financial Advisors LLC purchased a new position in S&P Global in the fourth quarter worth $36,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Price Performance

Shares of SPGI opened at $515.83 on Tuesday. The company has a market capitalization of $161.45 billion, a P/E ratio of 57.83, a P/E/G ratio of 2.65 and a beta of 1.17. The business’s 50-day moving average is $488.03 and its two-hundred day moving average is $449.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $521.50.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the company posted $3.12 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Research analysts predict that S&P Global Inc. will post 14.58 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s dividend payout ratio (DPR) is presently 40.81%.

Insider Activity

In other S&P Global news, 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on 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 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 the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the business’s 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 directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock worth $8,645,727 over the last three months. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of research analyst reports. Oppenheimer increased their price target on S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upgraded shares of S&P Global to a “strong-buy” rating in a research note on Tuesday, August 13th. Bank of America upped their price target on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Royal Bank of Canada lifted their price objective on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their target price on S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $535.25.

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.