Strategic Financial Concepts LLC Makes New Investment in S&P Global Inc. (NYSE:SPGI)

Strategic Financial Concepts LLC purchased a new stake in shares of S&P Global Inc. (NYSE:SPGI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 11,249 shares of the business services provider’s stock, valued at approximately $50,000.

Other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC acquired a new stake in shares of S&P Global during the 4th quarter valued at about $26,000. Pineridge Advisors LLC acquired a new stake in shares of S&P Global during the 4th quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of S&P Global during the 2nd quarter valued at about $31,000. First Pacific Financial lifted its holdings in shares of S&P Global by 49.0% during the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after buying an additional 24 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of S&P Global during the 4th quarter valued at about $36,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Stock Performance

Shares of NYSE SPGI opened at $520.00 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $489.43 and its two-hundred day moving average is $450.06. The company has a market cap of $162.76 billion, a P/E ratio of 58.30, a P/E/G ratio of 2.65 and a beta of 1.17. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $521.50.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.67 by $0.37. The company 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 period in the previous year, the business posted $3.12 EPS. On average, equities analysts expect that S&P Global Inc. will post 14.58 EPS 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 issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Tuesday, August 27th. S&P Global’s payout ratio is presently 40.81%.

Analyst Ratings Changes

SPGI has been the subject of several research reports. Barclays lifted their price target on S&P Global from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America raised their price objective on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. UBS Group raised their price objective 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. Oppenheimer raised their price objective on 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, BMO Capital Markets raised their price objective on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $535.25.

Insider Transactions at S&P Global

In other 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 transaction of $245,775.00. Following the sale, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $245,775.00. Following the sale, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven J. Kemps sold 2,700 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 $1,327,185.00. Following the sale, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is owned by corporate 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.