Bogart Wealth LLC Sells 2,559 Shares of S&P Global Inc. (NYSE:SPGI)

Bogart Wealth LLC cut its holdings in S&P Global Inc. (NYSE:SPGI) by 13.1% during the 3rd quarter, Holdings Channel reports. The firm owned 16,998 shares of the business services provider’s stock after selling 2,559 shares during the period. Bogart Wealth LLC’s holdings in S&P Global were worth $8,782,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SPGI. Swedbank AB bought a new stake in S&P Global during the 1st quarter valued at approximately $351,774,000. International Assets Investment Management LLC grew its position in shares of S&P Global by 174,815.4% in the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock worth $241,274,000 after buying an additional 466,757 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of S&P Global by 352.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after acquiring an additional 360,909 shares in the last quarter. Third Point LLC purchased a new position in S&P Global during the 1st quarter valued at about $142,526,000. Finally, Ameriprise Financial Inc. boosted its stake in S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after acquiring an additional 298,645 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI started coverage on S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price on the stock. JPMorgan Chase & Co. raised their price target on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets increased their price objective on shares of S&P Global from $537.00 to $589.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Finally, Oppenheimer lifted their target price on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $565.17.

S&P Global Stock Performance

Shares of SPGI traded down $12.26 on Thursday, reaching $498.66. The company’s stock had a trading volume of 668,187 shares, compared to its average volume of 1,194,344. The stock’s 50 day simple moving average is $513.82 and its two-hundred day simple moving average is $470.01. 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 stock has a market capitalization of $156.03 billion, a P/E ratio of 56.20, a PEG ratio of 2.91 and a beta of 1.18. S&P Global Inc. has a 12-month low of $340.49 and a 12-month high of $533.29.

S&P Global (NYSE:SPGI) last issued 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 for 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%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.12 EPS. Research analysts forecast that S&P Global Inc. will post 14.61 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is 40.81%.

Insider Transactions at S&P Global

In related news, insider Edouard Tavernier sold 500 shares of the business’s 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 completion of the transaction, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock valued at $8,645,727 over the last quarter. 0.10% of the stock is currently owned by company insiders.

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.