Sunbelt Securities Inc. Sells 45 Shares of S&P Global Inc. (NYSE:SPGI)

Sunbelt Securities Inc. lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 4.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,088 shares of the business services provider’s stock after selling 45 shares during the period. Sunbelt Securities Inc.’s holdings in S&P Global were worth $485,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SPGI. NewEdge Advisors LLC boosted its stake in shares of S&P Global by 53.2% during the second quarter. NewEdge Advisors LLC now owns 15,635 shares of the business services provider’s stock valued at $6,973,000 after purchasing an additional 5,429 shares in the last quarter. Nemes Rush Group LLC grew its holdings in S&P Global by 3.8% in the second quarter. Nemes Rush Group LLC now owns 15,068 shares of the business services provider’s stock worth $6,720,000 after purchasing an additional 545 shares during the last quarter. Magnolia Capital Advisors LLC increased its position in S&P Global by 201.8% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 6,178 shares of the business services provider’s stock valued at $2,755,000 after buying an additional 4,131 shares in the last quarter. Creative Planning grew its stake in shares of S&P Global by 7.3% during the second quarter. Creative Planning now owns 45,648 shares of the business services provider’s stock worth $20,359,000 after acquiring an additional 3,092 shares during the last quarter. Finally, Copperwynd Financial LLC acquired a new position in shares of S&P Global during the second quarter valued at about $237,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of SPGI stock opened at $512.15 on Wednesday. The firm’s 50-day moving average is $503.13 and its two-hundred day moving average is $459.73. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $528.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $160.25 billion, a PE ratio of 57.42, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.67 by $0.37. The business had revenue of $3.55 billion for 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%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.12 EPS. Analysts predict that S&P Global Inc. will post 14.57 earnings per share for the current year.

S&P Global Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on SPGI. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Barclays upped their price target on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Royal Bank of Canada upped their price objective on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets increased their target price on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley upped their price target on shares of S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $548.18.

Insider Activity at S&P Global

In other news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the sale, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the completion of the transaction, the executive vice president now directly owns 1,455 shares in the company, valued at $715,205.25. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock worth $8,645,727 in the last three months. 0.10% of the stock is owned by company 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.