Main Street Financial Solutions LLC Purchases 680 Shares of S&P Global Inc. (NYSE:SPGI)

Main Street Financial Solutions LLC increased its position in shares of S&P Global Inc. (NYSE:SPGI) by 13.5% in the second quarter, Holdings Channel reports. The institutional investor owned 5,708 shares of the business services provider’s stock after buying an additional 680 shares during the period. Main Street Financial Solutions LLC’s holdings in S&P Global were worth $2,546,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SPGI. Norges Bank bought a new position in shares of S&P Global during the fourth quarter worth about $1,652,862,000. Swedbank AB bought a new position in S&P Global in the first quarter valued at approximately $351,774,000. Capital International Investors grew its stake in S&P Global by 12.6% in the fourth quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after purchasing an additional 616,732 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in S&P Global by 352.2% in the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after purchasing an additional 360,909 shares in the last quarter. Finally, Third Point LLC bought a new position in S&P Global in the first quarter valued at approximately $142,526,000. 87.17% of the stock is currently owned by institutional investors.

Insider Transactions at S&P Global

In other news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction that occurred on 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 owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction that occurred on 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 in the company, valued at $7,618,662.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is owned by corporate insiders.

S&P Global Stock Performance

NYSE:SPGI opened at $515.81 on Thursday. The stock has a market cap of $161.40 billion, a P/E ratio of 57.83, a PEG ratio of 2.65 and a beta of 1.17. The stock has a 50 day simple moving average of $490.75 and a 200 day simple moving average of $450.52. 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 Inc. has a 1-year low of $340.49 and a 1-year high of $521.50.

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

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. S&P Global’s payout ratio is 40.81%.

Wall Street Analyst Weigh In

SPGI has been the subject of a number of analyst reports. Bank of America raised their price target on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley raised their price target on S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Stifel Nicolaus raised their price target on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised their price objective on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $535.25.

About S&P Global

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.