Capital Asset Advisory Services LLC Reduces Holdings in S&P Global Inc. (NYSE:SPGI)

Capital Asset Advisory Services LLC reduced its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 17.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,471 shares of the business services provider’s stock after selling 304 shares during the period. Capital Asset Advisory Services LLC’s holdings in S&P Global were worth $507,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Magnolia Capital Advisors LLC lifted its position in S&P Global by 1.7% during the fourth quarter. Magnolia Capital Advisors LLC now owns 1,642 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 28 shares in the last quarter. Circle Wealth Management LLC lifted its position in shares of S&P Global by 2.0% during the 4th quarter. Circle Wealth Management LLC now owns 1,501 shares of the business services provider’s stock valued at $503,000 after buying an additional 29 shares in the last quarter. Abbrea Capital LLC lifted its position in shares of S&P Global by 3.8% during the 1st quarter. Abbrea Capital LLC now owns 820 shares of the business services provider’s stock valued at $283,000 after buying an additional 30 shares in the last quarter. Provence Wealth Management Group grew its stake in shares of S&P Global by 4.4% during the 1st quarter. Provence Wealth Management Group now owns 738 shares of the business services provider’s stock valued at $254,000 after acquiring an additional 31 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in S&P Global by 11.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 329 shares of the business services provider’s stock worth $113,000 after acquiring an additional 33 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SPGI shares. StockNews.com assumed coverage on shares of S&P Global in a report on Thursday, August 17th. They set a “hold” rating on the stock. Robert W. Baird dropped their target price on shares of S&P Global from $460.00 to $451.00 and set an “outperform” rating for the company in a report on Friday, July 28th. TheStreet lowered S&P Global from a “b” rating to a “c+” rating in a research note on Thursday, July 27th. Bank of America initiated coverage on S&P Global in a research report on Thursday, June 15th. They issued a “buy” rating on the stock. Finally, Barclays increased their target price on S&P Global from $425.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and a consensus target price of $400.94.

Insider Activity

In related news, EVP Dimitra Manis sold 2,021 shares of S&P Global stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $386.27, for a total transaction of $780,651.67. Following the completion of the transaction, the executive vice president now directly owns 2,086 shares of the company’s stock, valued at approximately $805,759.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Dimitra Manis sold 2,021 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $386.27, for a total value of $780,651.67. Following the sale, the executive vice president now directly owns 2,086 shares in the company, valued at $805,759.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Saugata Saha sold 200 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $384.43, for a total value of $76,886.00. Following the transaction, the insider now owns 2,934 shares of the company’s stock, valued at approximately $1,127,917.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,078 shares of company stock valued at $9,407,258. 0.10% of the stock is currently owned by company insiders.

S&P Global Price Performance

S&P Global stock opened at $393.58 on Friday. S&P Global Inc. has a 52-week low of $279.32 and a 52-week high of $428.65. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $397.61 and its 200 day moving average is $370.92. The company has a market cap of $125.24 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 2.45 and a beta of 1.12.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, July 27th. The business services provider reported $3.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.12. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.05 billion. S&P Global had a net margin of 19.46% and a return on equity of 10.45%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.81 EPS. Sell-side analysts forecast that S&P Global Inc. will post 12.51 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, August 25th. S&P Global’s dividend payout ratio (DPR) is 49.72%.

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 six segments: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.