Drive Wealth Management LLC Increases Stake in S&P Global Inc. (NYSE:SPGI)

Drive Wealth Management LLC lifted its stake in shares of S&P Global Inc. (NYSE:SPGI) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,042 shares of the business services provider’s stock after buying an additional 29 shares during the quarter. Drive Wealth Management LLC’s holdings in S&P Global were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of SPGI. JPL Wealth Management LLC boosted its stake in S&P Global by 7.9% during the second quarter. JPL Wealth Management LLC now owns 3,418 shares of the business services provider’s stock worth $1,525,000 after acquiring an additional 249 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its stake in S&P Global by 46.0% during the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 1,463 shares of the business services provider’s stock worth $652,000 after acquiring an additional 461 shares in the last quarter. Ritholtz Wealth Management boosted its stake in S&P Global by 19.0% during the second quarter. Ritholtz Wealth Management now owns 7,433 shares of the business services provider’s stock worth $3,315,000 after acquiring an additional 1,187 shares in the last quarter. Summit Financial LLC boosted its stake in S&P Global by 261.1% during the second quarter. Summit Financial LLC now owns 11,423 shares of the business services provider’s stock worth $5,095,000 after acquiring an additional 8,260 shares in the last quarter. Finally, Berry Wealth Group LP boosted its stake in S&P Global by 11.9% during the second quarter. Berry Wealth Group LP now owns 762 shares of the business services provider’s stock worth $340,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Transactions at S&P Global

In other news, insider Edouard Tavernier sold 500 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now directly owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven J. Kemps sold 2,700 shares of the company’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 of the company’s stock, valued at approximately $715,205.25. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock valued at $8,645,727 over the last three months. Corporate insiders own 0.10% of the company’s stock.

S&P Global Stock Up 1.0 %

Shares of SPGI stock opened at $513.24 on Monday. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $514.00. The stock has a market cap of $160.64 billion, a P/E ratio of 57.54, a P/E/G ratio of 2.67 and a beta of 1.16. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $480.08 and a two-hundred day simple moving average of $445.80.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the prior year, the company earned $3.12 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. On average, research analysts expect that S&P Global Inc. will post 14.57 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. S&P Global’s dividend payout ratio (DPR) is presently 40.81%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upgraded shares of S&P Global to a “strong-buy” rating in a research note on Tuesday, August 13th. BMO Capital Markets upped their target price on shares of S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Barclays upped their target price on shares of S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Oppenheimer upped their target price on shares of S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $530.75.

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 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.