Brendel Financial Advisors LLC Sells 71 Shares of S&P Global Inc. (NYSE:SPGI)

Brendel Financial Advisors LLC trimmed its position in shares of S&P Global Inc. (NYSE:SPGI) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,807 shares of the business services provider’s stock after selling 71 shares during the period. S&P Global makes up about 2.3% of Brendel Financial Advisors LLC’s holdings, making the stock its 8th biggest holding. Brendel Financial Advisors LLC’s holdings in S&P Global were worth $4,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of S&P Global by 107.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after acquiring an additional 2,962 shares in the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new stake in shares of S&P Global in the first quarter worth about $1,222,000. Quadrature Capital Ltd acquired a new stake in shares of S&P Global in the first quarter valued at about $2,236,000. New Mexico Educational Retirement Board raised 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 during the period. Finally, Eventide Asset Management LLC lifted its position in S&P Global by 85.0% during the 4th quarter. Eventide Asset Management LLC now owns 4,208 shares of the business services provider’s stock worth $1,854,000 after acquiring an additional 1,933 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Buying and Selling at S&P Global

In other news, Director Robert P. Kelly sold 7,662 shares of the 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 transaction, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction 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 directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPGI. Morgan Stanley upped their target price on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer lifted their target price on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. BMO Capital Markets increased their price target on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, 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. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target of $560.83.

S&P Global Stock Performance

Shares of S&P Global stock traded down $4.53 during trading hours on Thursday, reaching $516.94. The company’s stock had a trading volume of 218,434 shares, compared to its average volume of 1,199,927. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. S&P Global Inc. has a one year low of $340.49 and a one year high of $528.02. The company’s 50 day simple moving average is $506.53 and its 200 day simple moving average is $463.28. The stock has a market cap of $161.75 billion, a P/E ratio of 58.46, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. The company had revenue of $3.55 billion during 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%. S&P Global’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.12 earnings per share. As a group, analysts expect that S&P Global Inc. will post 14.57 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio is presently 40.81%.

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.