Gabelli Funds LLC Reduces Position in S&P Global Inc. (NYSE:SPGI)

Gabelli Funds LLC decreased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 143,037 shares of the business services provider’s stock after selling 5,957 shares during the quarter. Gabelli Funds LLC’s holdings in S&P Global were worth $63,795,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its holdings in shares of S&P Global by 15.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,403,726 shares of the business services provider’s stock worth $618,369,000 after purchasing an additional 190,758 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of S&P Global by 107.2% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock worth $2,798,000 after purchasing an additional 2,962 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of S&P Global by 1.1% during the fourth quarter. Stifel Financial Corp now owns 475,930 shares of the business services provider’s stock worth $209,670,000 after purchasing an additional 5,087 shares during the last quarter. AAFMAA Wealth Management & Trust LLC acquired a new stake in shares of S&P Global during the first quarter worth $1,222,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of S&P Global during the first quarter worth $2,236,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Stock Down 0.1 %

Shares of NYSE SPGI opened at $523.67 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $163.86 billion, a price-to-earnings ratio of 58.71, a PEG ratio of 2.68 and a beta of 1.17. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $528.02. The stock’s 50-day simple moving average is $499.16 and its 200-day simple moving average is $455.14.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.37. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. S&P Global’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.12 earnings per share. As a group, equities analysts anticipate that S&P Global Inc. will post 14.58 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.70%. The ex-dividend date was Tuesday, August 27th. S&P Global’s dividend payout ratio is currently 40.81%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their target price on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus lifted their target price on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, UBS Group lifted their target price on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and a consensus target price of $548.18.

Insider Activity at S&P Global

In other S&P Global news, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other S&P Global news, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. 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. 0.10% of the stock is owned by insiders.

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 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.