S&P Global Inc. (NYSE:SPGI) Shares Sold by DnB Asset Management AS

DnB Asset Management AS decreased its holdings in S&P Global Inc. (NYSE:SPGI) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 366,243 shares of the business services provider’s stock after selling 17,692 shares during the quarter. S&P Global accounts for about 0.9% of DnB Asset Management AS’s holdings, making the stock its 20th largest holding. DnB Asset Management AS owned 0.11% of S&P Global worth $146,823,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. abrdn plc raised its position in shares of 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 last quarter. First National Bank of Mount Dora Trust Investment Services increased its stake in S&P Global by 93.8% during the 1st 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 in the last quarter. Atalan Capital Partners LP raised its holdings in shares of S&P Global by 41.8% during 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 acquiring an additional 115,000 shares during the last quarter. CVA Family Office LLC lifted its position in shares of S&P Global by 80.0% in the fourth quarter. CVA Family Office LLC now owns 567 shares of the business services provider’s stock valued at $190,000 after acquiring an additional 252 shares in the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of S&P Global by 42.7% in the first quarter. MV Capital Management Inc. now owns 127 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

Insider Activity

In other S&P Global news, insider Saugata Saha sold 200 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $390.69, for a total value of $78,138.00. Following the sale, the insider now owns 2,734 shares of the company’s stock, valued at $1,068,146.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other S&P Global news, insider Saugata Saha sold 200 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $390.69, for a total transaction of $78,138.00. Following the sale, the insider now directly owns 2,734 shares in the company, valued at $1,068,146.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas L. Peterson sold 9,657 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $394.11, for a total transaction of $3,805,920.27. Following the completion of the transaction, the chief executive officer now directly owns 172,113 shares of the company’s stock, valued at approximately $67,831,454.43. The disclosure for this sale can be found here. In the last three months, 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 research firms recently commented on SPGI. TheStreet downgraded S&P Global from a “b” rating to a “c+” rating in a research note on Thursday, July 27th. Wolfe Research initiated coverage on shares of S&P Global in a research report on Thursday. They issued an “outperform” rating and a $453.00 target price for the company. StockNews.com started coverage on shares of S&P Global in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Robert W. Baird dropped their price objective on shares of 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, Bank of America started coverage on shares of S&P Global in a research note on Thursday, June 15th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, S&P Global has an average rating of “Moderate Buy” and a consensus price target of $404.00.

S&P Global Trading Up 0.5 %

S&P Global stock traded up $1.87 during mid-day trading on Thursday, hitting $391.72. The company’s stock had a trading volume of 172,624 shares, compared to its average volume of 1,236,534. The stock’s fifty day moving average is $397.06 and its two-hundred day moving average is $372.04. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $124.65 billion, a PE ratio of 54.06, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. S&P Global Inc. has a 1 year low of $279.32 and a 1 year high of $428.65.

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

S&P Global Announces Dividend

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

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 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.