Prestige Wealth Management Group LLC Acquires 719 Shares of S&P Global Inc. (NYSE:SPGI)

Prestige Wealth Management Group LLC raised its stake in shares of S&P Global Inc. (NYSE:SPGI) by 69.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,755 shares of the business services provider’s stock after acquiring an additional 719 shares during the period. Prestige Wealth Management Group LLC’s holdings in S&P Global were worth $783,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Private Wealth Management Group LLC bought a new position in S&P Global in the fourth quarter valued at about $26,000. Pineridge Advisors LLC purchased a new position in shares of S&P Global in the fourth quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in S&P Global during the second quarter valued at approximately $31,000. First Pacific Financial increased its holdings 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 last quarter. Finally, Ridgewood Investments LLC bought a new position in S&P Global in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert P. Kelly sold 7,662 shares of the firm’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 transaction of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other S&P Global 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 transaction 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated 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 completion of the sale, 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. Insiders have sold 17,862 shares of company stock valued at $8,645,727 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SPGI shares. Morgan Stanley upped their price target on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays raised their target price on shares of S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their price target on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price objective 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. Finally, BMO Capital Markets upped their target price on shares of S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and an average target price of $535.25.

S&P Global Trading Down 1.2 %

Shares of S&P Global stock traded down $6.36 on Friday, reaching $510.64. The company had a trading volume of 1,037,683 shares, compared to its average volume of 1,232,332. The firm has a market cap of $159.78 billion, a price-to-earnings ratio of 57.25, a P/E/G ratio of 2.67 and a beta of 1.17. 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’s 50-day moving average price is $486.64 and its two-hundred day moving average price is $448.74. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $521.50.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $3.42 billion. The business’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business earned $3.12 EPS. As a group, research analysts predict that S&P Global Inc. will post 14.57 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s payout ratio is presently 40.81%.

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.