Beese Fulmer Investment Management Inc. Purchases New Stake in S&P Global Inc. (NYSE:SPGI)

Beese Fulmer Investment Management Inc. bought a new stake in S&P Global Inc. (NYSE:SPGI) in the 3rd quarter, HoldingsChannel reports. The firm bought 422 shares of the business services provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in 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 valued at $2,798,000 after purchasing an additional 2,962 shares during the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new stake in S&P Global in the first quarter valued at $1,222,000. Quadrature Capital Ltd acquired a new position in shares of S&P Global in the 1st quarter valued at $2,236,000. New Mexico Educational Retirement Board grew 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 worth $8,444,000 after purchasing an additional 3,500 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in S&P Global by 21.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,683 shares of the business services provider’s stock valued at $14,756,000 after buying an additional 6,162 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Price Performance

SPGI stock opened at $493.10 on Friday. The business’s 50-day moving average is $513.82 and its two-hundred day moving average is $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. The firm has a market capitalization of $154.29 billion, a P/E ratio of 55.28, a P/E/G ratio of 2.91 and a beta of 1.18. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $533.29.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating 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 last year, the company earned $3.12 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. Analysts anticipate that S&P Global Inc. will post 14.61 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.74%. S&P Global’s payout ratio is currently 40.81%.

Insider Activity at S&P Global

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of S&P Global 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 completion of the sale, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at $715,205.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the sale, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. 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 the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock valued at $8,645,727 over the last quarter. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SPGI has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer lifted their target price 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. UBS Group upped their price target on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Bank of America lifted 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. Finally, Evercore ISI began coverage on S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price on the stock. Two investment 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, the stock currently has an average rating of “Moderate Buy” and an average target price 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.