Convergence Financial LLC Has $454,000 Stock Position in S&P Global Inc. (NYSE:SPGI)

Convergence Financial LLC raised its stake in S&P Global Inc. (NYSE:SPGI) by 6.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 879 shares of the business services provider’s stock after buying an additional 50 shares during the period. Convergence Financial LLC’s holdings in S&P Global were worth $454,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new position in shares of S&P Global during the first quarter worth $351,774,000. International Assets Investment Management LLC raised its stake in S&P Global by 174,815.4% during the third quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock worth $241,274,000 after buying an additional 466,757 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in S&P Global by 352.2% during the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after buying an additional 360,909 shares during the last quarter. Third Point LLC bought a new position in S&P Global during the first quarter worth $142,526,000. Finally, Ameriprise Financial Inc. raised its stake in S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after buying an additional 298,645 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of analyst reports. BMO Capital Markets lowered their target price on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research note on Friday. Wells Fargo & Company lifted their price target on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Oppenheimer lifted their price target 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. JPMorgan Chase & Co. decreased their price target on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $569.77.

Insider Activity

In other news, EVP Steven J. Kemps sold 2,700 shares of the business’s 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 sale, 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 at the SEC website. In related news, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven J. Kemps sold 2,700 shares of the 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 completion of the transaction, the executive vice president now directly owns 1,455 shares in the company, valued at $715,205.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock valued at $8,645,727 over the last quarter. Company insiders own 0.10% of the company’s stock.

S&P Global Stock Down 0.5 %

S&P Global stock opened at $490.61 on Friday. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $533.29. The stock has a market cap of $153.56 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. The firm’s 50-day simple moving average is $513.83 and its 200 day simple moving average is $470.17. 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 (NYSE:SPGI) last released its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the company earned $3.21 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Research analysts predict that S&P Global Inc. will post 14.79 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is currently 34.50%.

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.