Institute for Wealth Management LLC. Has $716,000 Stock Holdings in S&P Global Inc. (NYSE:SPGI)

Institute for Wealth Management LLC. decreased its stake in S&P Global Inc. (NYSE:SPGI) by 5.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,606 shares of the business services provider’s stock after selling 89 shares during the quarter. Institute for Wealth Management LLC.’s holdings in S&P Global were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Private Wealth Management Group LLC purchased a new stake in shares of S&P Global in the fourth quarter valued at $26,000. Pineridge Advisors LLC purchased a new stake in S&P Global in the 4th quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in S&P Global in the 2nd quarter worth about $31,000. First Pacific Financial boosted its position in S&P Global by 49.0% during the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock worth $33,000 after acquiring an additional 24 shares during the period. Finally, Frazier Financial Advisors LLC purchased a new position in S&P Global during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays raised their price target on shares of S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised shares of S&P Global to a “strong-buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus lifted their price objective on 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, Bank of America boosted their target price 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. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $530.75.

S&P Global Stock Up 0.4 %

Shares of NYSE SPGI traded up $1.87 during mid-day trading on Friday, reaching $500.59. 679,849 shares of the company traded hands, compared to its average volume of 1,240,709. The company’s fifty day moving average is $473.07 and its two-hundred day moving average is $443.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 1.03. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $502.95. The stock has a market cap of $156.63 billion, a PE ratio of 56.12, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the company posted $3.12 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, analysts expect that S&P Global Inc. will post 14.58 earnings per share for the current year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 annualized dividend and a yield of 0.73%. S&P Global’s dividend payout ratio (DPR) is presently 40.81%.

Insiders Place Their Bets

In other news, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the sale, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at $715,205.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Edouard Tavernier sold 500 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 $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven J. Kemps sold 2,700 shares of the 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 $715,205.25. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock valued at $8,645,727 in the last quarter. Insiders own 0.10% of the company’s stock.

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.