Allspring Global Investments Holdings LLC Sells 23,056 Shares of S&P Global Inc. (NYSE:SPGI)

Allspring Global Investments Holdings LLC trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 5.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 421,843 shares of the business services provider’s stock after selling 23,056 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.13% of S&P Global worth $217,933,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SPGI. HWG Holdings LP purchased a new position in S&P Global in the second quarter worth about $27,000. Sachetta LLC lifted its position in shares of S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 30 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of S&P Global during the 2nd quarter valued at about $31,000. First Pacific Financial lifted its position in shares of S&P Global by 49.0% during the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after buying an additional 24 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of S&P Global during the 2nd quarter valued at about $36,000. 87.17% of the stock is currently owned by institutional investors.

S&P Global Price Performance

NYSE:SPGI traded up $5.84 during trading hours on Friday, reaching $524.80. The stock had a trading volume of 1,831,979 shares, compared to its average volume of 1,199,105. 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 52 week low of $340.49 and a 52 week high of $533.29. The company has a 50 day moving average price of $512.21 and a two-hundred day moving average price of $468.18. The stock has a market capitalization of $164.21 billion, a PE ratio of 58.83, a PEG ratio of 2.91 and a beta of 1.18.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the previous year, the company posted $3.12 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that S&P Global Inc. will post 14.61 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 40.81%.

Insider Activity

In other news, EVP Steven J. Kemps sold 2,700 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 $1,327,185.00. Following the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Steven J. Kemps sold 2,700 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 $1,327,185.00. Following the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SPGI. Stifel Nicolaus lifted their price objective on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Evercore ISI began coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. BMO Capital Markets lifted their price objective on S&P Global from $537.00 to $589.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Oppenheimer boosted their price target on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global presently has a consensus rating of “Moderate Buy” and an average target price of $565.17.

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.