S&P Global Inc. (NYSE:SPGI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 4.1% during the second quarter, HoldingsChannel reports. The firm owned 480,121 shares of the business services provider’s stock after selling 20,612 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in S&P Global were worth $214,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB acquired a new stake in S&P Global during the 1st quarter valued at approximately $351,774,000. Capital International Investors boosted its holdings in S&P Global by 12.6% in the fourth quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after purchasing an additional 616,732 shares during the last quarter. Assenagon Asset Management S.A. grew its position in S&P Global by 352.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after purchasing an additional 360,909 shares during the period. Third Point LLC purchased a new position in shares of S&P Global during the 1st quarter valued at about $142,526,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of S&P Global by 13.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after buying an additional 298,645 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPGI has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. UBS Group lifted their price target on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday. Oppenheimer raised their price target on shares of S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $548.18.

Insider Activity at S&P Global

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other S&P Global news, insider Edouard Tavernier sold 500 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 $245,775.00. Following the transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at $715,205.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,862 shares of company stock worth $8,645,727. Insiders own 0.10% of the company’s stock.

S&P Global Price Performance

NYSE:SPGI opened at $511.72 on Friday. The stock has a 50 day moving average price of $501.55 and a 200 day moving average price of $457.43. The stock has a market cap of $160.12 billion, a PE ratio of 57.37, a P/E/G ratio of 2.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. S&P Global Inc. has a one year low of $340.49 and a one year high of $528.02.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results 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. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the company posted $3.12 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. Equities research analysts expect that S&P Global Inc. will post 14.57 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is presently 40.81%.

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.