Director of S&P Global Inc. (NYSE:SPGI) sells $3,687,567.36 in stock

VaselineAugust 10, 2024

0 4 minutes read

Director of S&P Global Inc. (NYSE:SPGI – Get Your Free Report ) Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction dated 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 completion of the sale, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website.

S&P Global Trading rose 0.3%

Shares of NYSE SPGI traded up $1.32 during trading on Friday, hitting $488.51. 611,235 shares of the company exchanged hands, compared to its average volume of 1,258,101. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $502.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92, and a current ratio of 1.03. The company has a fifty day moving average price of $460.85 and a 200 day moving average price of $440.22. The firm has a market cap of $152.85 billion, a PE ratio of 54.77, a P/E/G ratio of 2.55 and a beta of 1.16.

S&P Global (NYSE:SPGI – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 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 analyst estimates of $3.42 billion. In the same quarter last year, the firm earned $3.12 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts expect that S&P Global Inc. to record 14.58 EPS for the current year.

S&P Global Dividend Announcement

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The company also recently disclosed 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 is Tuesday, August 27. This represents an annualized dividend of $3.64 and a yield of 0.75%. S&P Global’s dividend payout ratio (DPR) is currently 40.81%.

Analysts on Wall Street are forecasting an increase

A number of research firms recently issued reports on SPGI. Morgan Stanley raised their target price on shares of S&P Global from $500.00 to $510.00 and gave the company an “overweight” rating in a research note on Friday, July 5th. JPMorgan Chase & Co. raised their target price on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. UBS Group raised their target price on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Stifel Nicolaus lifted their price target on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their target price on shares of S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $526.73, based on data from MarketBeat.

Get the latest stock report on SPGI

S&P Global Institutional Trading

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sapient Capital LLC boosted its holdings in S&P Global by 2.5% in the second quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 21 shares during the period. Chatham Capital Group Inc. raised its holdings in S&P Global by 0.5% in the second quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock valued at $2,007,000 after purchasing an additional 21 shares during the period. DB Root & Company LLC boosted its holdings in S&P Global by 2.4% in the second quarter. DB Root & Company LLC now owns 955 shares of the business services provider’s stock valued at $426,000 after buying an additional 22 shares during the period. Modera Wealth Management LLC boosted its holdings in S&P Global by 2.3% in the second quarter. Modera Wealth Management LLC now owns 960 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 22 shares during the period. Finally, Foundations Investment Advisors LLC boosted its holdings in S&P Global by 1.0% in the second quarter. Foundations Investment Advisors LLC now owns 2,133 shares of the business services provider’s stock valued at $951,000 after purchasing an additional 22 shares during the period. 87.17% of the shares are currently held by hedge funds and other institutional investors.

About S&P Global

(Get a free report)

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodities and auto markets. It operates through the 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.