404 Shares in S&P Global Inc. (NYSE:SPGI) Purchased by 1858 Wealth Management LLC

21 Oct 2024, 17:34 by Kim Johansen · The Markets Daily

1858 Wealth Management LLC bought a new stake in shares of S&P Global Inc. (NYSE:SPGI – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 404 shares of the business services provider’s stock, valued at approximately $209,000.

Other institutional investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of S&P Global by 107.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after purchasing an additional 2,962 shares during the last quarter. AAFMAA Wealth Management & Trust LLC bought a new position in S&P Global in the first quarter worth approximately $1,222,000. Quadrature Capital Ltd purchased a new position in shares of S&P Global during the 1st quarter worth $2,236,000. New Mexico Educational Retirement Board grew its position in shares of S&P Global by 20.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 20,586 shares of the business services provider’s stock valued at $8,444,000 after acquiring an additional 3,500 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of S&P Global by 21.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,683 shares of the business services provider’s stock worth $14,756,000 after purchasing an additional 6,162 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

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 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 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 Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,862 shares of company stock valued at $8,645,727. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SPGI has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Evercore ISI began coverage on shares of S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Barclays raised their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Stifel Nicolaus lifted their price objective on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $565.17.

Read Our Latest Stock Report on SPGI

S&P Global Stock Down 0.2 %

Shares of S&P Global stock traded down $1.04 during trading on Monday, reaching $523.76. The company’s stock had a trading volume of 313,984 shares, compared to its average volume of 1,194,682. The company has a 50-day simple moving average of $512.21 and a two-hundred day simple moving average of $468.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $533.29. The company has a market cap of $163.88 billion, a price-to-earnings ratio of 58.83, a P/E/G ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI – Get Free Report) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. S&P Global’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the business earned $3.12 EPS. As a group, equities analysts forecast that S&P Global Inc. will post 14.61 earnings per share for the current year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.69%. S&P Global’s payout ratio is presently 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.