B. Riley Wealth Advisors Inc. Sells 362 Shares of S&P Global Inc. (NYSE:SPGI)

B. Riley Wealth Advisors Inc. cut its stake in S&P Global Inc. (NYSE:SPGI) by 7.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,261 shares of the business services provider’s stock after selling 362 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in S&P Global were worth $1,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of S&P Global by 107.2% in the 2nd 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 acquiring an additional 2,962 shares in the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new position in S&P Global during the first quarter valued at $1,222,000. Quadrature Capital Ltd purchased a new position in S&P Global during the first quarter valued at $2,236,000. New Mexico Educational Retirement Board boosted its holdings in shares of S&P Global by 20.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 20,586 shares of the business services provider’s stock valued at $8,444,000 after buying an additional 3,500 shares in the last quarter. Finally, Eventide Asset Management LLC grew its position in shares of S&P Global by 85.0% in the 4th quarter. Eventide Asset Management LLC now owns 4,208 shares of the business services provider’s stock worth $1,854,000 after buying an additional 1,933 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at S&P Global

In related news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the transaction, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by company insiders.

S&P Global Trading Up 0.5 %

Shares of S&P Global stock opened at $514.71 on Thursday. S&P Global Inc. has a twelve month low of $340.49 and a twelve month high of $528.02. 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 has a 50-day moving average price of $503.79 and a 200-day moving average price of $460.11. The firm has a market cap of $161.05 billion, a price-to-earnings ratio of 57.70, a PEG 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 earnings per share for the quarter, topping 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 company 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 business posted $3.12 earnings per share. S&P Global’s quarterly revenue was up 14.4% on a year-over-year basis. Equities research analysts anticipate that S&P Global Inc. will post 14.57 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.71%. S&P Global’s payout ratio is currently 40.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Royal Bank of Canada boosted their price target on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Barclays lifted their price objective on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Stifel Nicolaus increased their target price on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three equities 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $552.42.

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.