Sequoia Financial Advisors LLC Increases Position in S&P Global Inc. (NYSE:SPGI)

Sequoia Financial Advisors LLC increased its stake in S&P Global Inc. (NYSE:SPGI) by 13.7% in the 3rd quarter, Holdings Channel reports. The fund owned 5,576 shares of the business services provider’s stock after buying an additional 674 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in S&P Global were worth $2,881,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPGI. HWG Holdings LP purchased a new position in S&P Global in the second quarter worth $27,000. Northwest Investment Counselors LLC purchased a new stake in S&P Global during the third quarter valued at about $27,000. Sachetta LLC boosted its position in S&P Global by 103.4% during the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 30 shares during the period. Hobbs Group Advisors LLC purchased a new stake in S&P Global during the second quarter valued at about $31,000. Finally, First Pacific Financial boosted its position in S&P Global by 49.0% during the second 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 period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Steven J. Kemps sold 2,700 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edouard Tavernier sold 500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 in the company, valued at approximately $6,496,816.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have 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 Price Performance

SPGI stock opened at $510.92 on Thursday. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $533.29. The company has a market cap of $159.87 billion, a P/E ratio of 57.28, a PEG ratio of 2.91 and a beta of 1.18. The firm has a 50-day moving average of $513.82 and a 200 day moving average of $470.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03.

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, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the firm earned $3.12 earnings per share. S&P Global’s revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that S&P Global Inc. will post 14.61 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed 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. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 40.81%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Oppenheimer upped their price target on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Stifel Nicolaus upped their price target on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets upped their price target on shares of S&P Global from $537.00 to $589.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $565.17.

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.