Whitaker Myers Wealth Managers LTD. Invests $316,000 in S&P Global Inc. (NYSE:SPGI)

Whitaker Myers Wealth Managers LTD. purchased a new stake in S&P Global Inc. (NYSE:SPGI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 611 shares of the business services provider’s stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPGI. Sachetta LLC raised its position in shares of S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares during the last quarter. HWG Holdings LP bought a new stake in S&P Global in the second quarter valued at about $27,000. Hobbs Group Advisors LLC acquired a new position in S&P Global in the second quarter valued at about $31,000. First Pacific Financial boosted 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 worth $33,000 after buying an additional 24 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of S&P Global during the 2nd quarter worth about $36,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at S&P Global

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at $715,205.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the transaction, the director now owns 15,830 shares in the company, valued at $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,862 shares of company stock valued at $8,645,727. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

SPGI has been the topic of a number of analyst reports. Barclays increased their price target on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Oppenheimer boosted their price target 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. JPMorgan Chase & Co. lifted their target price on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus increased their price target on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Evercore ISI assumed coverage on S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $565.17.

S&P Global Trading Up 1.1 %

NYSE SPGI opened at $524.80 on Friday. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $533.29. 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 stock’s 50 day moving average price is $512.21 and its two-hundred day moving average price is $468.18. The stock has a market capitalization of $164.21 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, July 30th. The business services provider reported $4.04 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 business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the prior year, the company posted $3.12 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. As a group, analysts anticipate that S&P Global Inc. will post 14.61 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.69%. S&P Global’s 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.