Tealwood Asset Management Inc. Makes New Investment in S&P Global Inc. (NYSE:SPGI)

Tealwood Asset Management Inc. bought a new position in shares of S&P Global Inc. (NYSE:SPGI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,553 shares of the business services provider’s stock, valued at approximately $1,836,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Traveka Wealth LLC boosted its holdings in shares of S&P Global by 7.3% in the 3rd quarter. Traveka Wealth LLC now owns 673 shares of the business services provider’s stock worth $348,000 after buying an additional 46 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in S&P Global by 19.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 8,224 shares of the business services provider’s stock worth $4,249,000 after acquiring an additional 1,317 shares during the period. Blue Zone Wealth Advisors LLC boosted its stake in S&P Global by 3.1% in the third quarter. Blue Zone Wealth Advisors LLC now owns 11,078 shares of the business services provider’s stock valued at $5,723,000 after acquiring an additional 330 shares during the last quarter. Chesley Taft & Associates LLC grew its position in shares of S&P Global by 2.4% during the 3rd quarter. Chesley Taft & Associates LLC now owns 11,855 shares of the business services provider’s stock valued at $6,125,000 after acquiring an additional 281 shares during the period. Finally, Callan Family Office LLC increased its stake in shares of S&P Global by 81.5% during the 3rd quarter. Callan Family Office LLC now owns 931 shares of the business services provider’s stock worth $481,000 after purchasing an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

SPGI has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays upped their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Morgan Stanley lifted their price objective on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Oppenheimer upped 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. Finally, Evercore ISI began coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $556.58.

S&P Global Price Performance

S&P Global stock traded up $8.75 during midday trading on Tuesday, reaching $515.17. 262,488 shares of the stock were exchanged, compared to its average volume of 1,203,247. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $528.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $161.20 billion, a PE ratio of 58.06, a PEG ratio of 2.91 and a beta of 1.18. The company’s fifty day moving average is $505.20 and its 200-day moving average is $462.17.

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 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 firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the prior year, the firm posted $3.12 earnings per share. The business’s quarterly revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that S&P Global Inc. will post 14.57 EPS for the current year.

S&P Global Dividend Announcement

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 issued a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.71%. S&P Global’s payout ratio is currently 40.81%.

Insider Activity

In related news, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the sale, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. 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 insiders.

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.