M&G Plc Has $17.91 Million Stock Holdings in S&P Global Inc. (NYSE:SPGI)

M&G Plc lowered its stake in S&P Global Inc. (NYSE:SPGI) by 17.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,158 shares of the business services provider’s stock after selling 8,606 shares during the period. M&G Plc’s holdings in S&P Global were worth $17,910,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC boosted its position in S&P Global by 8.8% during the 4th quarter. Perigon Wealth Management LLC now owns 3,039 shares of the business services provider’s stock worth $1,339,000 after buying an additional 245 shares during the period. Graypoint LLC lifted its holdings in shares of S&P Global by 20.0% during the fourth quarter. Graypoint LLC now owns 1,449 shares of the business services provider’s stock worth $638,000 after purchasing an additional 241 shares during the period. Simplicity Solutions LLC grew its stake in shares of S&P Global by 18.8% in the fourth quarter. Simplicity Solutions LLC now owns 6,366 shares of the business services provider’s stock worth $2,804,000 after purchasing an additional 1,007 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in S&P Global by 100.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 14,456 shares of the business services provider’s stock valued at $6,368,000 after purchasing an additional 7,236 shares during the period. Finally, Vontobel Holding Ltd. raised its position in S&P Global by 0.5% during the 4th quarter. Vontobel Holding Ltd. now owns 341,827 shares of the business services provider’s stock worth $150,582,000 after purchasing an additional 1,715 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Trading Up 1.1 %

SPGI opened at $489.69 on Wednesday. The company has a fifty day moving average price of $463.11 and a two-hundred day moving average price of $440.68. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $502.95. The company has a market cap of $153.22 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a current ratio of 1.03, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS 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 analyst estimates of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 EPS. Analysts predict that S&P Global Inc. will post 14.58 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, September 11th. Investors of record on Tuesday, August 27th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s dividend payout ratio is currently 40.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on S&P Global from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price 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 boosted 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. Oppenheimer increased their price objective on shares of S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised shares of S&P Global to a “strong-buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $530.75.

Insider Activity at S&P Global

In other news, EVP Steven J. Kemps sold 2,700 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 $1,327,185.00. Following the completion of the sale, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at $715,205.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction that occurred 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 directly owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven J. Kemps sold 2,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. 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.

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.