Naviter Wealth LLC Makes New Investment in S&P Global Inc. (NYSE:SPGI)

Naviter Wealth LLC purchased a new stake in S&P Global Inc. (NYSE:SPGI) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 581 shares of the business services provider’s stock, valued at approximately $300,000.

Other large investors also recently made changes to their positions in the company. Sachetta LLC boosted its position in shares of S&P Global by 103.4% in the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after acquiring an additional 30 shares during the last quarter. HWG Holdings LP purchased a new position in S&P Global during the second quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new position in shares of S&P Global in the 2nd quarter valued at $31,000. First Pacific Financial grew its stake in shares of S&P Global by 49.0% during the 2nd 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 period. Finally, Ridgewood Investments LLC acquired a new stake in shares of S&P Global during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

SPGI has been the topic of a number of research analyst reports. Bank of America lifted their target price on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Evercore ISI assumed coverage on S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price for the company. Wells Fargo & Company raised their price target on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. BMO Capital Markets boosted their price objective on shares of S&P Global from $537.00 to $589.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Oppenheimer increased their price objective on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $565.17.

Insiders Place Their Bets

In other news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction on 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert P. Kelly sold 7,662 shares of the business’s 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 owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock worth $8,645,727 in the last three months. 0.10% of the stock is owned by insiders.

S&P Global Stock Down 2.0 %

Shares of NYSE SPGI opened at $518.68 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $533.29. The stock’s 50-day simple moving average is $511.48 and its 200-day simple moving average is $467.22. The firm has a market cap of $162.29 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data 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 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 period in the previous year, the business earned $3.12 EPS. S&P Global’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 0.70%. S&P Global’s dividend payout ratio is presently 40.81%.

S&P Global Company 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.