Carnegie Investment Counsel Sells 42 Shares of S&P Global Inc. (NYSE:SPGI)

Carnegie Investment Counsel lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 993 shares of the business services provider’s stock after selling 42 shares during the quarter. Carnegie Investment Counsel’s holdings in S&P Global were worth $443,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SPGI. Sapient Capital LLC raised its position in shares of S&P Global by 2.5% during the 2nd quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after buying an additional 21 shares during the period. Chatham Capital Group Inc. raised its position 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. D.B. Root & Company LLC lifted its stake in S&P Global by 2.4% during the second quarter. D.B. Root & Company LLC now owns 955 shares of the business services provider’s stock worth $426,000 after purchasing an additional 22 shares in the last quarter. First Pacific Financial boosted its position in shares of S&P Global by 49.0% during the second 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 period. Finally, First Bank & Trust boosted its position in shares of S&P Global by 0.7% during the first quarter. First Bank & Trust now owns 3,811 shares of the business services provider’s stock worth $1,621,000 after buying an additional 25 shares during the period. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance

Shares of NYSE SPGI traded down $0.37 during trading hours on Wednesday, reaching $497.49. The stock had a trading volume of 122,239 shares, compared to its average volume of 1,239,332. The firm has a market cap of $155.66 billion, a price-to-earnings ratio of 55.71, a PEG ratio of 2.55 and a beta of 1.16. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $502.95. The firm has a 50-day moving average of $469.34 and a 200-day moving average of $442.14. The company has a current ratio of 1.03, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period last year, the firm posted $3.12 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts predict that S&P Global Inc. will post 14.58 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a yield of 0.73%. S&P Global’s payout ratio is currently 40.81%.

Wall Street Analyst Weigh In

SPGI has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of S&P Global to a “strong-buy” rating in a research note on Tuesday, August 13th. Morgan Stanley raised their price target on shares of S&P Global from $500.00 to $510.00 and gave the company an “overweight” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. increased their price objective on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. 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 note on Wednesday, July 31st. Finally, UBS Group lifted their price objective on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and an average price target of $530.75.

Insider Activity

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the sale, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Steven J. Kemps sold 2,700 shares of S&P Global 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 approximately $715,205.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the transaction, the insider now directly owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock valued at $8,645,727 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

S&P Global Profile

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.