River Wealth Advisors LLC decreased its position in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 7.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,400 shares of the business services provider’s stock after selling 286 shares during the period. River Wealth Advisors LLC’s holdings in S&P Global were worth $1,363,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of S&P Global by 96,853.6% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 636,007,026 shares of the business services provider’s stock valued at $254,968,857,000 after buying an additional 635,351,035 shares during the period. BlackRock Inc. raised its stake in S&P Global by 2.2% during the first quarter. BlackRock Inc. now owns 25,744,251 shares of the business services provider’s stock worth $8,875,846,000 after purchasing an additional 549,673 shares during the period. TCI Fund Management Ltd. raised its stake in S&P Global by 1.6% during the first quarter. TCI Fund Management Ltd. now owns 9,329,611 shares of the business services provider’s stock worth $3,216,570,000 after purchasing an additional 145,038 shares during the period. FMR LLC raised its stake in S&P Global by 3.0% during the first quarter. FMR LLC now owns 6,368,385 shares of the business services provider’s stock worth $2,195,628,000 after purchasing an additional 188,161 shares during the period. Finally, Geode Capital Management LLC raised its stake in S&P Global by 0.4% during the first quarter. Geode Capital Management LLC now owns 5,940,550 shares of the business services provider’s stock worth $2,042,765,000 after purchasing an additional 23,949 shares during the period. Hedge funds and other institutional investors own 85.50% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on SPGI shares. Morgan Stanley cut their price target on shares of S&P Global from $450.00 to $424.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 3rd. StockNews.com assumed coverage on shares of S&P Global in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Raymond James dropped their price objective on shares of S&P Global from $421.00 to $403.00 and set an “outperform” rating for the company in a research report on Thursday, October 5th. TheStreet lowered shares of S&P Global from a “b” rating to a “c+” rating in a research report on Thursday, July 27th. Finally, 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 report on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, S&P Global has an average rating of “Moderate Buy” and an average target price of $420.18.
Insider Buying and Selling at S&P Global
In other news, insider Saugata Saha sold 200 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $390.13, for a total value of $78,026.00. Following the transaction, the insider now directly owns 934 shares in the company, valued at approximately $364,381.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is currently owned by insiders.
S&P Global Price Performance
SPGI opened at $393.97 on Monday. S&P Global Inc. has a twelve month low of $321.14 and a twelve month high of $428.65. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The firm has a market cap of $124.81 billion, a price-to-earnings ratio of 50.97, a PEG ratio of 2.49 and a beta of 1.13. The company has a fifty day simple moving average of $371.80 and a 200 day simple moving average of $380.39.
S&P Global Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, November 27th. This represents a $3.60 dividend on an annualized basis and a yield of 0.91%. S&P Global’s dividend payout ratio (DPR) is 46.57%.
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.
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