S&P Global Inc. (NYSE:SPGI) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC cut its position in shares of S&P Global Inc. (NYSE:SPGI) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,467 shares of the business services provider’s stock after selling 2,977 shares during the quarter. Confluence Investment Management LLC’s holdings in S&P Global were worth $80,766,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SPGI. abrdn plc boosted its position in S&P Global by 6.4% during the 1st quarter. abrdn plc now owns 353,768 shares of the business services provider’s stock worth $121,969,000 after purchasing an additional 21,273 shares during the period. First National Bank of Mount Dora Trust Investment Services boosted its position in shares of S&P Global by 93.8% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 14,050 shares of the business services provider’s stock worth $4,844,000 after buying an additional 6,801 shares during the period. Atalan Capital Partners LP grew its stake in shares of S&P Global by 41.8% in the fourth quarter. Atalan Capital Partners LP now owns 390,000 shares of the business services provider’s stock valued at $130,627,000 after buying an additional 115,000 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of S&P Global by 80.0% during the 4th quarter. CVA Family Office LLC now owns 567 shares of the business services provider’s stock valued at $190,000 after buying an additional 252 shares during the period. Finally, MV Capital Management Inc. lifted its position in S&P Global by 42.7% during the 1st quarter. MV Capital Management Inc. now owns 127 shares of the business services provider’s stock worth $44,000 after acquiring an additional 38 shares in the last quarter. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $389.85 on Thursday. The firm’s 50 day moving average is $397.06 and its two-hundred day moving average is $372.04. The firm has a market capitalization of $124.05 billion, a P/E ratio of 53.85, a PEG ratio of 2.45 and a beta of 1.12. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.30. S&P Global Inc. has a 52 week low of $279.32 and a 52 week high of $428.65.

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

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Monday, August 28th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Friday, August 25th. S&P Global’s payout ratio is currently 49.72%.

Insider Buying and Selling at S&P Global

In other news, insider Saugata Saha sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $424.40, for a total value of $84,880.00. Following the completion of the sale, the insider now directly owns 1,934 shares of the company’s stock, valued at approximately $820,789.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Saugata Saha sold 200 shares of S&P Global stock in a transaction on Monday, July 24th. The stock was sold at an average price of $424.40, for a total transaction of $84,880.00. Following the transaction, the insider now directly owns 1,934 shares in the company, valued at approximately $820,789.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Jason Kansler sold 10,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $387.38, for a total value of $3,873,800.00. Following the completion of the sale, the insider now owns 20,961 shares of the company’s stock, valued at approximately $8,119,872.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,857 shares of company stock valued at $8,549,352. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPGI shares. TheStreet downgraded shares of S&P Global from a “b” rating to a “c+” rating in a research report on Thursday, July 27th. Bank of America began coverage on shares of S&P Global in a report on Thursday, June 15th. They set a “buy” rating for the company. Barclays boosted their price objective on shares of S&P Global from $425.00 to $470.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Robert W. Baird lowered their target price on S&P Global from $460.00 to $451.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on S&P Global in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.00.

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.