Allspring Global Investments Holdings LLC Trims Holdings in S&P Global Inc. (NYSE:SPGI)

Allspring Global Investments Holdings LLC decreased its holdings in S&P Global Inc. (NYSE:SPGI) by 5.2% during the third quarter, HoldingsChannel.com reports. The firm owned 421,843 shares of the business services provider’s stock after selling 23,056 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in S&P Global were worth $217,933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First National Corp MA ADV grew its position in shares of S&P Global by 0.9% during the 3rd quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock worth $1,211,000 after buying an additional 20 shares in the last quarter. Kathleen S. Wright Associates Inc. grew its position in shares of S&P Global by 25.0% during the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock worth $51,000 after buying an additional 20 shares in the last quarter. Trust Point Inc. boosted its position in S&P Global by 1.4% during the third quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after purchasing an additional 20 shares in the last quarter. Sapient Capital LLC boosted its position in S&P Global by 2.5% during the second quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 21 shares in the last quarter. Finally, Chatham Capital Group Inc. boosted its position in S&P Global by 0.5% during the second quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock valued at $2,007,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

SPGI has been the topic of a number of recent research reports. BMO Capital Markets raised 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. Wells Fargo & Company raised their price objective on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. 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 report on Wednesday, July 31st. Royal Bank of Canada raised their price target on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, UBS Group raised their price target on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $565.17.

Insider Activity at S&P Global

In related news, EVP Steven J. Kemps sold 2,700 shares of S&P Global 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 completion of the transaction, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Steven J. Kemps sold 2,700 shares of S&P Global 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 completion of the transaction, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction that occurred on Friday, August 2nd. The shares were 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 owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by corporate insiders.

S&P Global Stock Performance

Shares of NYSE:SPGI traded up $5.84 during trading on Friday, hitting $524.80. The stock had a trading volume of 1,831,979 shares, compared to its average volume of 1,199,105. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $533.29. The stock has a market capitalization of $164.21 billion, a price-to-earnings ratio of 58.83, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. 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 50-day simple moving average of $512.21 and a two-hundred day simple moving average of $468.18.

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, topping 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 firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the business posted $3.12 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts expect that S&P Global Inc. will post 14.61 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 yield of 0.69%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio is currently 40.81%.

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.