SevenBridge Financial Group LLC Reduces Stock Position in S&P Global Inc (NYSE:SPGI)

SevenBridge Financial Group LLC cut its stake in S&P Global Inc (NYSE:SPGI) by 9.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 423 shares of the business services provider’s stock after selling 43 shares during the quarter. SevenBridge Financial Group LLC’s holdings in S&P Global were worth $96,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Meridian Wealth Management LLC purchased a new position in S&P Global in the first quarter valued at about $26,000. Harvest Group Wealth Management LLC purchased a new position in shares of S&P Global during the 1st quarter worth approximately $28,000. Kistler Tiffany Companies LLC increased its stake in shares of S&P Global by 220.0% during the 1st quarter. Kistler Tiffany Companies LLC now owns 160 shares of the business services provider’s stock worth $34,000 after purchasing an additional 110 shares in the last quarter. Berman Capital Advisors LLC increased its stake in shares of S&P Global by 59.6% during the 1st quarter. Berman Capital Advisors LLC now owns 166 shares of the business services provider’s stock worth $34,000 after purchasing an additional 62 shares in the last quarter. Finally, CNB Bank increased its stake in shares of S&P Global by 45.9% during the 1st quarter. CNB Bank now owns 178 shares of the business services provider’s stock worth $37,000 after purchasing an additional 56 shares in the last quarter. 82.56% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on SPGI shares. UBS Group raised their price objective on shares of S&P Global from $252.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley raised their price objective on shares of S&P Global from $232.00 to $254.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Raymond James raised their price objective on shares of S&P Global from $226.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. started coverage on shares of S&P Global in a research note on Wednesday, July 10th. They set an “overweight” rating and a $260.00 price objective for the company. Finally, Zacks Investment Research raised shares of S&P Global from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $226.70.

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $211.01, for a total value of $1,266,060.00. Following the completion of the sale, the chief executive officer now directly owns 173,431 shares of the company’s stock, valued at approximately $36,595,675.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alexander Matturri, Jr. sold 1,007 shares of S&P Global stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $230.44, for a total transaction of $232,053.08. Following the completion of the sale, the chief executive officer now directly owns 18,723 shares of the company’s stock, valued at $4,314,528.12. The disclosure for this sale can be found here. Insiders sold a total of 21,312 shares of company stock valued at $4,593,028 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

SPGI stock traded up $15.50 during midday trading on Thursday, hitting $260.45. The stock had a trading volume of 779,292 shares, compared to its average volume of 852,337. The company has a market cap of $59.90 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.95 and a beta of 1.08. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 11.03. S&P Global Inc has a 12-month low of $156.68 and a 12-month high of $248.71. The business has a 50-day moving average price of $234.89.

S&P Global (NYSE:SPGI) last released its earnings results on Thursday, May 2nd. The business services provider reported $2.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by ($0.01). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.60 billion. S&P Global had a return on equity of 325.28% and a net margin of 29.99%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 earnings per share. On average, equities research analysts anticipate that S&P Global Inc will post 9.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.28 annualized dividend and a yield of 0.88%. S&P Global’s payout ratio is currently 26.82%.

S&P Global Profile

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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