Mattern Capital Management LLC Lowers Stake in S&P Global Inc. (NYSE:SPGI)

Mattern Capital Management LLC lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 0.8% in the third quarter, Holdings Channel reports. The institutional investor owned 21,394 shares of the business services provider’s stock after selling 175 shares during the period. S&P Global accounts for 1.4% of Mattern Capital Management LLC’s holdings, making the stock its 17th biggest position. Mattern Capital Management LLC’s holdings in S&P Global were worth $11,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPGI. Swedbank AB purchased a new stake in shares of S&P Global during the 1st quarter valued at $351,774,000. International Assets Investment Management LLC lifted its holdings in shares of S&P Global by 174,815.4% during the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after purchasing an additional 466,757 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of S&P Global by 352.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after purchasing an additional 360,909 shares during the last quarter. Third Point LLC purchased a new stake in shares of S&P Global during the 1st quarter valued at $142,526,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after purchasing an additional 298,645 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

NYSE:SPGI opened at $490.61 on Friday. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $533.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a market capitalization 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 stock’s 50-day moving average price is $513.82 and its 200-day moving average price is $470.81.

S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period last year, the firm earned $3.21 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts expect that S&P Global Inc. will post 14.79 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.74%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is 34.50%.

Insider Buying and Selling

In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction dated 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 in the company, valued at approximately $7,618,662.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,862 shares of company stock worth $8,645,727. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group raised their target price on S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company raised their target price on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Evercore ISI started coverage on S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Finally, Royal Bank of Canada increased their price target on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, S&P Global currently has a consensus rating of “Moderate Buy” and an average price target of $569.77.

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.