Cornerstone Wealth Management LLC Purchases 53 Shares of S&P Global Inc. (NYSE:SPGI)

Cornerstone Wealth Management LLC grew its position in S&P Global Inc. (NYSE:SPGI) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 923 shares of the business services provider’s stock after acquiring an additional 53 shares during the period. Cornerstone Wealth Management LLC’s holdings in S&P Global were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. B.O.S.S. Retirement Advisors LLC increased its stake in shares of S&P Global by 16.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 10,393 shares of the business services provider’s stock valued at $5,370,000 after buying an additional 1,462 shares in the last quarter. Carderock Capital Management Inc. increased its position in S&P Global by 2.4% in the 3rd quarter. Carderock Capital Management Inc. now owns 19,929 shares of the business services provider’s stock valued at $10,296,000 after acquiring an additional 474 shares in the last quarter. Wolff Wiese Magana LLC raised its stake in shares of S&P Global by 5,500.0% in the third quarter. Wolff Wiese Magana LLC now owns 448 shares of the business services provider’s stock worth $231,000 after acquiring an additional 440 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of S&P Global by 16.8% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 5,530 shares of the business services provider’s stock worth $2,857,000 after purchasing an additional 796 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in shares of S&P Global by 9.6% during the third quarter. Sumitomo Life Insurance Co. now owns 22,167 shares of the business services provider’s stock worth $11,452,000 after purchasing an additional 1,936 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on SPGI shares. Stifel Nicolaus boosted their price objective on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. UBS Group lifted their price objective on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Evercore ISI started coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price on the stock. Bank of America lifted their price target on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer increased their price objective on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, S&P Global presently has an average rating of “Moderate Buy” and an average price target of $565.17.

S&P Global Trading Up 1.1 %

Shares of NYSE:SPGI opened at $524.80 on Friday. The firm has a market cap of $164.21 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 2.91 and a beta of 1.18. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $533.29. The company’s fifty day simple moving average is $512.21 and its 200 day simple moving average is $467.89. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.37. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $3.12 EPS. As a group, research analysts forecast that S&P Global Inc. will post 14.61 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm 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 $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.69%. S&P Global’s payout ratio is currently 40.81%.

Insiders Place Their Bets

In related news, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 15,830 shares in the company, valued at $7,618,662.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the transaction, the chief executive officer now owns 154,912 shares in the company, valued at $74,915,443.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock valued at $8,645,727 in the last three months. 0.10% of the stock is currently owned by corporate insiders.

S&P Global Company 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.