Friedenthal Financial Makes New $803,000 Investment in S&P Global Inc. (NYSE:SPGI)

Friedenthal Financial purchased a new stake in S&P Global Inc. (NYSE:SPGI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,554 shares of the business services provider’s stock, valued at approximately $803,000.

A number of other hedge funds have also modified their holdings of the business. Sachetta LLC raised its holdings 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 in the 2nd quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of S&P Global during the second quarter worth about $31,000. First Pacific Financial raised its position in shares of S&P Global by 49.0% in 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 purchased a new position in shares of S&P Global during the second quarter valued at approximately $36,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction 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 directly owns 1,455 shares in the company, valued at approximately $715,205.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,455 shares in the company, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the sale, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $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 90 days, insiders have sold 17,862 shares of company stock valued at $8,645,727. Insiders own 0.10% of the company’s stock.

S&P Global Stock Performance

S&P Global stock opened at $524.80 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $512.21 and a 200-day moving average of $467.89. The stock has a market cap of $164.21 billion, a P/E ratio of 58.83, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $533.29.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share 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 company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The company’s revenue was up 14.4% on a year-over-year basis. On average, analysts expect that S&P Global Inc. will post 14.61 EPS 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. Investors of record on Tuesday, November 26th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio is presently 40.81%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPGI. Barclays boosted their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. BMO Capital Markets lifted their price target on S&P Global from $537.00 to $589.00 and gave the company an “outperform” rating in a report on Tuesday. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. UBS Group upped their price target on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Oppenheimer boosted their price objective on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $565.17.

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.