Regal Investment Advisors LLC decreased its position in S&P Global Inc. (NYSE:SPGI – Get Rating) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,510 shares of the business services provider’s stock after selling 529 shares during the period. Regal Investment Advisors LLC’s holdings in S&P Global were worth $1,185,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in S&P Global in the 4th quarter worth about $28,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in S&P Global in the 4th quarter worth about $31,000. MV Capital Management Inc. boosted its stake in S&P Global by 65.9% in the 3rd quarter. MV Capital Management Inc. now owns 68 shares of the business services provider’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in S&P Global during the 4th quarter valued at about $38,000. Finally, Cordasco Financial Network bought a new position in S&P Global during the 4th quarter valued at about $42,000. Institutional investors own 94.26% of the company’s stock.
In other S&P Global news, EVP Steven J. Kemps sold 3,183 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $404.04, for a total value of $1,286,059.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina Cheung sold 3,870 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $381.28, for a total value of $1,475,553.60. The disclosure for this sale can be found here. Insiders sold a total of 11,280 shares of company stock valued at $4,478,177 over the last three months. 0.10% of the stock is currently owned by insiders.
S&P Global (NYSE:SPGI – Get Rating) last released its earnings results on Tuesday, May 3rd. The business services provider reported $2.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($0.10). The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $3.04 billion. S&P Global had a return on equity of 31.07% and a net margin of 40.43%. The company’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.39 earnings per share. As a group, equities research analysts predict that S&P Global Inc. will post 13.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 27th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.01%. This is a positive change from S&P Global’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, May 26th. S&P Global’s dividend payout ratio is currently 22.22%.
Several equities analysts have issued reports on SPGI shares. Credit Suisse Group lowered their target price on shares of S&P Global from $495.00 to $425.00 in a research note on Wednesday, May 4th. The Goldman Sachs Group started coverage on shares of S&P Global in a research note on Tuesday, March 8th. They set a “buy” rating and a $485.00 target price on the stock. Raymond James lowered their target price on shares of S&P Global from $497.00 to $475.00 and set an “outperform” rating on the stock in a research note on Thursday, April 7th. UBS Group lowered their target price on shares of S&P Global from $486.00 to $441.00 in a research note on Wednesday, May 4th. Finally, JPMorgan Chase & Co. began coverage on shares of S&P Global in a research note on Wednesday, March 2nd. They set an “overweight” rating and a $480.00 target price on the stock. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $467.57.
S&P Global Company Profile (Get Rating)
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 in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.
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