Allspring Global Investments Holdings LLC Sells 23,056 Shares of S&P Global Inc. (NYSE:SPGI)

Allspring Global Investments Holdings LLC lowered its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 5.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 421,843 shares of the business services provider's stock after selling 23,056 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.13% of S&P Global worth $217,933,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SPGI. HWG Holdings LP bought a new stake in S&P Global during the 2nd quarter valued at $27,000. Sachetta LLC boosted its holdings in shares of S&P Global by 103.4% during the second quarter. Sachetta LLC now owns 59 shares of the business services provider's stock worth $29,000 after purchasing an additional 30 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of S&P Global in the second quarter worth about $31,000. First Pacific Financial grew its stake in shares of S&P Global by 49.0% in the second quarter. First Pacific Financial now owns 73 shares of the business services provider's stock worth $33,000 after purchasing an additional 24 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in S&P Global during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insiders Place Their Bets

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the company'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 transaction, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction that occurred on 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 of the company's stock, valued at approximately $7,618,662.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 154,912 shares in the company, valued at $74,915,443.20. 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 valued at $8,645,727. Corporate insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

SPGI has been the topic of a number of recent analyst reports. Barclays lifted their price objective on S&P Global from $550.00 to $610.00 and gave the stock an "overweight" rating in a research report on Friday, September 13th. Raymond James lowered shares of S&P Global from an "outperform" rating to a "market perform" rating in a report on Monday, September 23rd. Oppenheimer lifted their target price on shares of S&P Global from $540.00 to $590.00 and gave the company an "outperform" rating in a research note on Thursday, October 3rd. Morgan Stanley lifted their price objective on S&P Global from $564.00 to $570.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus raised their target price on S&P Global from $535.00 to $540.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, S&P Global currently has an average rating of "Moderate Buy" and a consensus target price of $565.17.

S&P Global Stock Up 1.1 %

Shares of SPGI traded up $5.84 during trading hours on Friday, hitting $524.80. The company had a trading volume of 1,831,979 shares, compared to its average volume of 1,199,105. The stock has a market capitalization of $164.21 billion, a price-to-earnings ratio of 58.83, a P/E/G ratio of 2.91 and a beta of 1.18. The firm has a fifty day moving average price of $512.21 and a 200-day moving average price of $468.48. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $533.29. 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 - Get Free Report) last issued its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.42 billion. During the same period in the previous year, the company earned $3.12 earnings per share. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts forecast that S&P Global Inc. will post 14.61 EPS for the current fiscal year.

S&P Global Announces Dividend

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

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.