My Legacy Advisors LLC Lowers Stake in S&P Global Inc. (NYSE:SPGI)

My Legacy Advisors LLC reduced its stake in S&P Global Inc. (NYSE:SPGI) by 16.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,503 shares of the business services provider’s stock after selling 288 shares during the period. My Legacy Advisors LLC’s holdings in S&P Global were worth $776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SPGI. Signaturefd LLC increased its position in S&P Global by 1.0% during the 3rd quarter. Signaturefd LLC now owns 7,347 shares of the business services provider’s stock valued at $3,795,000 after purchasing an additional 72 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of S&P Global by 13.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,576 shares of the business services provider’s stock worth $2,881,000 after purchasing an additional 674 shares during the last quarter. Oakworth Capital Inc. raised its holdings in S&P Global by 52.9% in the third quarter. Oakworth Capital Inc. now owns 185 shares of the business services provider’s stock worth $96,000 after purchasing an additional 64 shares in the last quarter. Maple Capital Management Inc. boosted its stake in S&P Global by 0.7% in the third quarter. Maple Capital Management Inc. now owns 42,418 shares of the business services provider’s stock valued at $21,914,000 after acquiring an additional 275 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its position in shares of S&P Global by 4.5% during the third quarter. Foundations Investment Advisors LLC now owns 2,228 shares of the business services provider’s stock worth $1,151,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

SPGI has been the subject of a number of research reports. BMO Capital Markets lifted their price target on S&P Global from $537.00 to $589.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Wells Fargo & Company upped their target price on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their price target on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus raised their target price on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, 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 stock traded down $11.42 during mid-day trading on Tuesday, hitting $511.77. The stock had a trading volume of 395,035 shares, compared to its average volume of 1,193,246. The firm has a market cap of $160.13 billion, a PE ratio of 58.65, a PEG ratio of 2.91 and a beta of 1.18. The company’s 50-day simple moving average is $512.98 and its 200-day simple moving average is $469.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $533.29.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $3.12 earnings per share. Sell-side analysts anticipate that S&P Global Inc. will post 14.61 earnings per share for the current year.

S&P Global Dividend Announcement

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 dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.71%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is 40.81%.

Insiders Place Their Bets

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at approximately $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 the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,862 shares of company stock valued at $8,645,727. 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.