Belpointe Asset Management LLC Sells 57 Shares of S&P Global Inc. (NYSE:SPGI)

Belpointe Asset Management LLC decreased its holdings in S&P Global Inc. (NYSE:SPGI) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,005 shares of the business services provider’s stock after selling 57 shares during the period. Belpointe Asset Management LLC’s holdings in S&P Global were worth $1,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SPGI. Private Wealth Management Group LLC bought a new position in shares of S&P Global in the 4th quarter valued at $26,000. Pineridge Advisors LLC acquired a new stake in shares of S&P Global during the fourth quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of S&P Global during the second quarter valued at about $31,000. First Pacific Financial increased 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 valued at $33,000 after buying an additional 24 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in shares of S&P Global in the second quarter valued at approximately $36,000. 87.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the completion of the sale, the chief executive officer now owns 154,912 shares in the company, valued at approximately $74,915,443.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the company’s 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 transaction, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of S&P Global from $500.00 to $510.00 and gave the company an “overweight” rating in a research report on Friday, July 5th. Bank of America raised their target price on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Barclays upped their price target on S&P Global from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upgraded S&P Global to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, BMO Capital Markets upped their target price on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $530.75.

S&P Global Stock Performance

Shares of SPGI stock opened at $513.31 on Thursday. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $517.46. The firm has a market capitalization of $160.61 billion, a PE ratio of 57.55, a price-to-earnings-growth ratio of 2.67 and a beta of 1.16. The firm has a fifty day simple moving average of $483.99 and a two-hundred day simple moving average of $447.50. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the company posted $3.12 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Analysts forecast that S&P Global Inc. will post 14.57 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th 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 0.71%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s payout ratio is currently 40.81%.

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.