Highland Capital Management LLC Sells 703 Shares of S&P Global Inc. (NYSE:SPGI)

Highland Capital Management LLC trimmed its position in shares of S&P Global Inc. (NYSE:SPGI) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,684 shares of the business services provider’s stock after selling 703 shares during the quarter. Highland Capital Management LLC’s holdings in S&P Global were worth $12,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of S&P Global by 107.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock worth $2,798,000 after buying an additional 2,962 shares during the period. AAFMAA Wealth Management & Trust LLC bought a new position in S&P Global in the 1st quarter valued at $1,222,000. Quadrature Capital Ltd purchased a new stake in S&P Global in the first quarter worth $2,236,000. New Mexico Educational Retirement Board increased its stake in S&P Global by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 20,586 shares of the business services provider’s stock worth $8,444,000 after purchasing an additional 3,500 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of S&P Global by 21.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 34,683 shares of the business services provider’s stock worth $14,756,000 after purchasing an additional 6,162 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Trading Down 0.5 %

Shares of NYSE SPGI opened at $490.61 on Friday. The business has a fifty day moving average price of $513.83 and a 200 day moving average price of $470.17. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $533.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $153.56 billion, a P/E ratio of 46.50, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $3.21 EPS. Equities research analysts expect that S&P Global Inc. will post 14.79 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. 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, November 26th. S&P Global’s payout ratio is presently 34.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BMO Capital Markets cut their price target 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. Wells Fargo & Company upped their target price on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Barclays boosted their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. reduced their price objective on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $569.77.

Insider Activity

In related news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was 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 of the company’s stock, valued at $6,496,816.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction on 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 in the company, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edouard Tavernier sold 500 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 $245,775.00. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders sold 17,862 shares of company stock worth $8,645,727. 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.