Nicholas Hoffman & Company LLC. Decreases Stake in S&P Global Inc. (NYSE:SPGI)

31 Oct 2024, 06:10 by Amy Steele · The Cerbat Gem

Nicholas Hoffman & Company LLC. lowered its position in S&P Global Inc. (NYSE:SPGI – Free Report) by 8.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,284 shares of the business services provider’s stock after selling 126 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in S&P Global were worth $663,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SPGI. HWG Holdings LP acquired a new stake in S&P Global during the second quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new position in shares of S&P Global in the 3rd quarter valued at $27,000. Sachetta LLC increased its holdings in shares of S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of S&P Global in the 2nd quarter valued at $31,000. Finally, First Pacific Financial increased its holdings in shares of S&P Global by 49.0% in the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SPGI shares. Barclays upped their price objective on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Royal Bank of Canada upped their price objective on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Bank of America upped their price objective on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Oppenheimer upped 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. Finally, Robert W. Baird upped their price objective on shares of S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $571.31.

View Our Latest Analysis on S&P Global

Insiders Place Their Bets

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the firm’s 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 sale, 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 Securities & Exchange Commission, which is accessible through this link. In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction dated 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 directly owns 154,912 shares of the company’s stock, valued at $74,915,443.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the sale, the director now directly owns 15,830 shares in the company, valued at $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. 0.10% of the stock is owned by corporate insiders.

S&P Global Price Performance

Shares of NYSE SPGI opened at $486.03 on Thursday. The stock has a market cap of $152.08 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 2.76 and a beta of 1.18. S&P Global Inc. has a 52 week low of $342.93 and a 52 week high of $533.29. The company’s 50-day moving average price is $513.17 and its 200 day moving average price is $472.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI – Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.21 EPS. As a group, research analysts forecast that S&P Global Inc. will post 14.79 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. Investors of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.75%. S&P Global’s payout ratio is 40.81%.

S&P Global Profile

(Free Report)