S&P Global Inc. (NYSE:SPGI) Holdings Reduced by Amalgamated Bank

Amalgamated Bank cut its stake in S&P Global Inc. (NYSE:SPGI) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,337 shares of the business services provider’s stock after selling 2,676 shares during the period. Amalgamated Bank’s holdings in S&P Global were worth $28,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of S&P Global by 25.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 37,964 shares of the business services provider’s stock valued at $16,932,000 after acquiring an additional 7,780 shares in the last quarter. Argent Trust Co boosted its holdings in shares of S&P Global by 1.6% in the second quarter. Argent Trust Co now owns 5,644 shares of the business services provider’s stock valued at $2,517,000 after acquiring an additional 91 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in S&P Global by 9.6% during the second quarter. Meiji Yasuda Life Insurance Co now owns 23,920 shares of the business services provider’s stock valued at $10,668,000 after purchasing an additional 2,093 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in S&P Global by 2.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 218,520 shares of the business services provider’s stock valued at $97,460,000 after purchasing an additional 5,366 shares during the last quarter. Finally, Systematic Alpha Investments LLC acquired a new stake in S&P Global during the second quarter valued at approximately $202,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on SPGI shares. Barclays increased their target price on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley increased their target price on shares of S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price target 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. Finally, Stifel Nicolaus upped their price target on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $548.18.

S&P Global Price Performance

NYSE:SPGI opened at $522.41 on Wednesday. The company has a 50-day moving average of $496.16 and a 200-day moving average of $453.28. The company has a market capitalization of $163.46 billion, a price-to-earnings ratio of 58.57, a PEG ratio of 2.68 and a beta of 1.17. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $528.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03.

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 (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period last year, the firm posted $3.12 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts anticipate that S&P Global Inc. will post 14.58 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.70%. The ex-dividend date was Tuesday, August 27th. S&P Global’s payout ratio is presently 40.81%.

Insider Buying and Selling at S&P Global

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the firm’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 completion of the sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by corporate insiders.

S&P Global Company 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.