City State Bank Boosts Stake in S&P Global Inc. (NYSE:SPGI)

City State Bank grew its stake in S&P Global Inc. (NYSE:SPGI) by 5.6% during the third quarter, HoldingsChannel reports. The fund owned 757 shares of the business services provider’s stock after acquiring an additional 40 shares during the quarter. City State Bank’s holdings in S&P Global were worth $391,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pineridge Advisors LLC purchased a new position in S&P Global in the fourth quarter valued at about $26,000. HWG Holdings LP purchased a new position in shares of S&P Global in the 2nd quarter worth approximately $27,000. Sachetta LLC raised its stake in shares of S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in S&P Global during the second quarter valued at approximately $31,000. Finally, First Pacific Financial boosted its stake in S&P Global by 49.0% in the second quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 24 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

S&P Global Trading Up 1.3 %

Shares of NYSE:SPGI opened at $522.01 on Friday. 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 12-month low of $340.49 and a 12-month high of $528.02. The business has a 50 day moving average of $507.74 and a two-hundred day moving average of $464.67. The company has a market capitalization of $163.34 billion, a PE ratio of 58.52, a PEG ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.37. The firm had revenue of $3.55 billion during 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 business’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.12 EPS. As a group, analysts forecast that S&P Global Inc. will post 14.61 EPS for the current year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.70%. S&P Global’s dividend payout ratio is presently 40.81%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SPGI shares. Morgan Stanley upped their price target on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. UBS Group raised their price target on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Stifel Nicolaus boosted their price target on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada increased their price objective on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $560.83.

Insider Buying and Selling

In other news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the transaction, the director now owns 15,830 shares in the company, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated 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 $7,618,662.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edouard Tavernier sold 500 shares of the firm’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 completion of the transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is owned by company insiders.

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.