Rock Point Advisors LLC Sells 75 Shares of S&P Global Inc. (NYSE:SPGI)

Rock Point Advisors LLC reduced its position in shares of S&P Global Inc. (NYSE:SPGI) by 13.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the business services provider’s stock after selling 75 shares during the period. Rock Point Advisors LLC’s holdings in S&P Global were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPGI. OV Management LLC lifted its position in shares of S&P Global by 1.2% during the 2nd quarter. OV Management LLC now owns 4,047 shares of the business services provider’s stock worth $1,805,000 after buying an additional 47 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of S&P Global by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,071,903 shares of the business services provider’s stock valued at $478,069,000 after purchasing an additional 32,845 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of S&P Global by 41.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 64,945 shares of the business services provider’s stock valued at $28,965,000 after purchasing an additional 18,897 shares during the last quarter. Allen Investment Management LLC increased its position in S&P Global by 6.1% during the 2nd quarter. Allen Investment Management LLC now owns 957,748 shares of the business services provider’s stock worth $427,156,000 after purchasing an additional 54,701 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its stake in S&P Global by 21.1% in the 2nd quarter. Wealthspire Advisors LLC now owns 672 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 117 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPGI. Royal Bank of Canada boosted their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. Barclays lifted their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer upped their price objective on S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Bank of America lifted their target price 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. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $548.18.

Insiders Place Their Bets

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the 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 $245,775.00. Following the transaction, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by corporate insiders.

S&P Global Stock Down 0.1 %

Shares of NYSE SPGI opened at $519.45 on Friday. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $524.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50 day moving average price is $493.49 and its 200-day moving average price is $451.76. The company has a market capitalization of $162.59 billion, a P/E ratio of 58.23, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating 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 analysts’ expectations of $3.42 billion. During the same quarter in the prior year, the firm posted $3.12 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Equities analysts forecast that S&P Global Inc. will post 14.58 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th were paid a dividend of $0.91 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.64 annualized dividend and a yield of 0.70%. S&P Global’s dividend payout ratio is currently 40.81%.

S&P Global Company 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.