Financial Insights Inc. Cuts Stake in S&P Global Inc. (NYSE:SPGI)

Financial Insights Inc. reduced its position in shares of S&P Global Inc. (NYSE:SPGI) by 50.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 665 shares of the business services provider’s stock after selling 677 shares during the quarter. Financial Insights Inc.’s holdings in S&P Global were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First National Corp MA ADV boosted 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 valued at $1,211,000 after acquiring an additional 20 shares during the last quarter. Kathleen S. Wright Associates Inc. boosted 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 valued at $51,000 after acquiring an additional 20 shares during the last quarter. Trust Point Inc. boosted its position in shares of S&P Global by 1.4% during the 3rd quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after acquiring an additional 20 shares during the last quarter. Sapient Capital LLC boosted its position in shares of S&P Global by 2.5% during the 2nd quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 21 shares during the last quarter. Finally, Chatham Capital Group Inc. boosted its position in shares of S&P Global by 0.5% during the 2nd quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock valued at $2,007,000 after acquiring an additional 21 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Steven J. Kemps sold 2,700 shares of the firm’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 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 filing with the SEC, which is accessible through this link. In other S&P Global news, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the transaction, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,862 shares of company stock worth $8,645,727. Company insiders own 0.10% of the company’s stock.

S&P Global Stock Performance

SPGI stock opened at $513.52 on Wednesday. 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 business’s fifty day simple moving average is $513.46 and its two-hundred day simple moving average is $469.72. S&P Global Inc. has a twelve month low of $340.49 and a twelve month high of $533.29. The firm has a market cap of $160.68 billion, a price-to-earnings ratio of 57.57, a PEG ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business’s revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.12 earnings per share. Analysts predict that S&P Global Inc. will post 14.61 earnings per share for the current year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. S&P Global’s dividend payout ratio is currently 40.81%.

Wall Street Analysts Forecast Growth

SPGI has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Oppenheimer raised their price target on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. 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 research report on Tuesday, July 9th. Morgan Stanley raised their price target on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price target on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $565.17.

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.