Cwm LLC Trims Position in S&P Global Inc. (NYSE:SPGI)

by · The Markets Daily

Cwm LLC lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,273 shares of the business services provider’s stock after selling 2,675 shares during the quarter. Cwm LLC’s holdings in S&P Global were worth $15,123,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Pineridge Advisors LLC bought a new stake in shares of S&P Global during the 4th quarter valued at about $26,000. HWG Holdings LP bought a new stake in shares of S&P Global during the 2nd quarter valued at about $27,000. Sachetta LLC boosted its position in shares of S&P Global by 103.4% during 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 last quarter. Hobbs Group Advisors LLC bought a new stake in shares of S&P Global during the 2nd quarter valued at about $31,000. Finally, First Pacific Financial lifted its position in S&P Global by 49.0% in the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock worth $33,000 after buying an additional 24 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPGI. Morgan Stanley boosted their target price on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada boosted their target price 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. Oppenheimer boosted their price objective on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Bank of America boosted their price objective on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus boosted their price objective on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $560.83.

Get Our Latest Research Report on SPGI

Insiders Place Their Bets

In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the sale, the chief executive officer now owns 154,912 shares in the company, valued at $74,915,443.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Steven J. Kemps sold 2,700 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 1,455 shares in the company, valued at approximately $715,205.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock worth $8,645,727 over the last quarter. 0.10% of the stock is currently owned by corporate insiders.

S&P Global Trading Down 1.2 %

Shares of NYSE:SPGI opened at $515.12 on Friday. S&P Global Inc. has a 1 year low of $340.49 and a 1 year high of $528.02. The stock’s fifty day moving average price is $506.53 and its 200-day moving average price is $463.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $161.18 billion, a P/E ratio of 57.75, a PEG ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI – Get Free Report) last posted its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.42 billion. During the same quarter in the prior year, the company earned $3.12 earnings per share. S&P Global’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts expect that S&P Global Inc. will post 14.57 earnings per share for the current year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio is 40.81%.

S&P Global Company Profile

(Free Report)

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.

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