Prestige Wealth Management Group LLC Boosts Holdings in S&P Global Inc. (NYSE:SPGI)

Prestige Wealth Management Group LLC grew its position in S&P Global Inc. (NYSE:SPGI) by 69.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,755 shares of the business services provider’s stock after purchasing an additional 719 shares during the period. Prestige Wealth Management Group LLC’s holdings in S&P Global were worth $783,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in S&P Global in the 4th quarter worth approximately $1,652,862,000. Swedbank AB purchased a new stake in shares of S&P Global during the first quarter valued at $351,774,000. Capital International Investors increased its position in shares of 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. Assenagon Asset Management S.A. increased its position in shares of S&P Global by 352.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after acquiring an additional 360,909 shares during the period. Finally, Third Point LLC purchased a new position in S&P Global in the 1st quarter worth $142,526,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction 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 transaction, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven J. Kemps sold 2,700 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 transaction of $1,327,185.00. Following the completion of the sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock valued at $8,645,727 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SPGI. Bank of America increased 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. Stifel Nicolaus increased their price target on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Oppenheimer lifted their price objective on shares of S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays upped their price target on shares of S&P Global from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $535.25.

S&P Global Price Performance

Shares of S&P Global stock traded down $6.36 on Friday, hitting $510.64. 1,037,683 shares of the company were exchanged, compared to its average volume of 1,232,332. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $521.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $159.78 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 2.67 and a beta of 1.17. The company has a 50-day moving average price of $486.64 and a 200 day moving average price of $448.74.

S&P Global (NYSE:SPGI) last issued its earnings results 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 return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the prior year, the business earned $3.12 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts predict that S&P Global Inc. will post 14.57 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 given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.71%. The ex-dividend date is Tuesday, August 27th. S&P Global’s payout ratio is currently 40.81%.

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.