W.H. Cornerstone Investments Inc. Sells 439 Shares of S&P Global Inc. (NYSE:SPGI)

W.H. Cornerstone Investments Inc. lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 13.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,897 shares of the business services provider’s stock after selling 439 shares during the period. S&P Global accounts for approximately 1.0% of W.H. Cornerstone Investments Inc.’s portfolio, making the stock its 19th largest holding. W.H. Cornerstone Investments Inc.’s holdings in S&P Global were worth $1,497,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SPGI. Capital International Investors increased its holdings in shares of S&P Global by 5.3% in the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock worth $2,464,951,000 after buying an additional 291,712 shares during the last quarter. Legal & General Group Plc grew its position in S&P Global by 1.0% in the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock worth $1,260,665,000 after acquiring an additional 29,227 shares in the last quarter. Ameriprise Financial Inc. increased its stake in S&P Global by 13.5% in the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after acquiring an additional 298,645 shares during the last quarter. Sustainable Growth Advisers LP raised its position in S&P Global by 2.1% during the first quarter. Sustainable Growth Advisers LP now owns 2,199,754 shares of the business services provider’s stock valued at $935,885,000 after purchasing an additional 46,131 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in S&P Global by 1.4% during the second quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock worth $651,682,000 after purchasing an additional 20,624 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Insiders Place Their Bets

In other 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Bank of America raised their price objective on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. BMO Capital Markets reduced their target price on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Barclays raised their price objective on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Wells Fargo & Company boosted their target price on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI started coverage on S&P Global in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and a consensus price target of $571.31.

S&P Global Trading Up 0.5 %

NYSE:SPGI opened at $485.77 on Tuesday. The company has a 50-day moving average price of $512.12 and a 200-day moving average price of $474.13. The stock has a market cap of $150.73 billion, a price-to-earnings ratio of 42.87, a P/E/G ratio of 2.48 and a beta of 1.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 12 month low of $381.33 and a 12 month high of $533.29.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period last year, the business posted $3.21 earnings per share. S&P Global’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts predict that S&P Global Inc. will post 15.16 EPS for the current year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.75%. S&P Global’s dividend payout ratio (DPR) is 32.13%.

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.