Harrell Investment Partners LLC Has $2.62 Million Stake in S&P Global Inc. (NYSE:SPGI)

Harrell Investment Partners LLC raised its stake in shares of S&P Global Inc. (NYSE:SPGI) by 2.3% in the 3rd quarter, Holdings Channel reports. The firm owned 5,077 shares of the business services provider’s stock after purchasing an additional 113 shares during the quarter. Harrell Investment Partners LLC’s holdings in S&P Global were worth $2,623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPGI. Capital International Investors increased its position in shares of S&P Global by 5.3% during the first 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 period. Legal & General Group Plc grew its holdings in S&P Global by 1.0% during the 2nd 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 during the period. Ameriprise Financial Inc. raised its position in shares of S&P Global by 13.5% in the 2nd 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. Sustainable Growth Advisers LP lifted its stake in shares of S&P Global by 2.1% in the 1st 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 during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of S&P Global by 1.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock valued at $651,682,000 after purchasing an additional 20,624 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Stock Up 1.0 %

NYSE SPGI traded up $5.15 during trading hours on Monday, hitting $527.16. The company’s stock had a trading volume of 101,950 shares, compared to its average volume of 1,194,319. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The company’s 50-day simple moving average is $507.74 and its two-hundred day simple moving average is $464.97. The company has a market capitalization of $164.95 billion, a PE ratio of 58.52, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $528.02.

S&P Global (NYSE:SPGI) last announced 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. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the firm earned $3.12 earnings per share. S&P Global’s quarterly revenue was up 14.4% on a year-over-year basis. Research analysts anticipate that S&P Global Inc. will post 14.61 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.69%. S&P Global’s payout ratio is 40.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SPGI shares. Oppenheimer lifted their target price on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Evercore ISI began coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective for the company. Stifel Nicolaus increased their target price on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets lifted their price target on shares of S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, UBS Group upped their price objective on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Two investment 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, S&P Global presently has a consensus rating of “Moderate Buy” and an average price target of $560.83.

Insider Activity

In related news, insider Edouard Tavernier sold 500 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 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 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 can be accessed through this link. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s 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 transaction, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. This represents a 0.00 % decrease in their position. 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 S&P Global 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 completion of the sale, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock worth $8,645,727 over the last quarter. Insiders own 0.10% of the company’s stock.

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.