HBK Sorce Advisory LLC Cuts Position in S&P Global Inc. (NYSE:SPGI)

HBK Sorce Advisory LLC lowered its position in S&P Global Inc. (NYSE:SPGI) by 3.7% in the second quarter, Holdings Channel reports. The fund owned 3,437 shares of the business services provider’s stock after selling 133 shares during the period. HBK Sorce Advisory LLC’s holdings in S&P Global were worth $1,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in S&P Global in the fourth quarter valued at $1,652,862,000. Swedbank AB acquired a new stake in shares of S&P Global during the 1st quarter worth about $351,774,000. Capital International Investors lifted its stake in S&P Global by 12.6% during the fourth quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock worth $2,423,762,000 after purchasing an additional 616,732 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in 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 in the last quarter. Finally, Third Point LLC purchased a new position in S&P Global in the first quarter valued at approximately $142,526,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price 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. BMO Capital Markets upped their price objective on shares of S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Oppenheimer raised their price objective on S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. UBS Group boosted their target price on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, S&P Global has an average rating of “Moderate Buy” and an average price target of $540.25.

S&P Global Trading Down 0.1 %

NYSE:SPGI opened at $519.45 on Friday. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $524.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock’s 50 day simple moving average is $493.49 and its 200-day simple moving average is $451.60. The firm has a market cap of $162.59 billion, a P/E ratio of 58.23, a PEG ratio of 2.68 and a beta of 1.17.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the company posted $3.12 EPS. S&P Global’s revenue was up 14.4% compared to the same quarter last year. Equities analysts anticipate that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th were issued a dividend of $0.91 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.64 annualized dividend and a yield of 0.70%. S&P Global’s dividend payout ratio is currently 40.81%.

Insider Activity at S&P Global

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the business’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 $245,775.00. Following the transaction, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,455 shares in the company, valued at $715,205.25. 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 90 days. Company insiders own 0.10% of the company’s stock.

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.