Otter Creek Advisors LLC Invests $4.53 Million in S&P Global Inc. (NYSE:SPGI)

Otter Creek Advisors LLC purchased a new position in shares of S&P Global Inc. (NYSE:SPGIGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,050 shares of the business services provider’s stock, valued at approximately $4,532,000. S&P Global comprises approximately 1.8% of Otter Creek Advisors LLC’s holdings, making the stock its 18th biggest holding.

A number of other large investors also recently modified their holdings of SPGI. PYA Waltman Capital LLC bought a new stake in shares of S&P Global during the first quarter valued at approximately $7,454,000. Teacher Retirement System of Texas increased its position in shares of S&P Global by 33.4% during the first quarter. Teacher Retirement System of Texas now owns 127,847 shares of the business services provider’s stock valued at $52,440,000 after purchasing an additional 32,030 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of S&P Global by 123.0% during the first quarter. Capital Advisors Ltd. LLC now owns 368 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 203 shares during the period. Forsta AP Fonden increased its position in shares of S&P Global by 32.2% during the first quarter. Forsta AP Fonden now owns 93,185 shares of the business services provider’s stock valued at $38,223,000 after purchasing an additional 22,685 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in S&P Global in the first quarter valued at $694,000. 94.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPGI has been the topic of several research analyst reports. Credit Suisse Group decreased their target price on S&P Global from $495.00 to $425.00 in a report on Wednesday, May 4th. Royal Bank of Canada cut their price target on S&P Global from $540.00 to $434.00 in a research note on Thursday, June 2nd. Deutsche Bank Aktiengesellschaft cut their price target on S&P Global from $483.00 to $418.00 in a research note on Thursday, June 2nd. Barclays cut their price target on S&P Global from $450.00 to $385.00 and set an “overweight” rating on the stock in a research note on Friday, June 3rd. Finally, Robert W. Baird cut their price target on S&P Global from $472.00 to $414.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $422.00.

Insider Activity

In other news, EVP Dimitra Manis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $336.53, for a total value of $673,060.00. Following the completion of the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at $1,628,468.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other S&P Global news, EVP Nancy Luquette sold 3,200 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $367.49, for a total transaction of $1,175,968.00. Following the completion of the sale, the executive vice president now owns 2,467 shares of the company’s stock, valued at approximately $906,597.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dimitra Manis sold 2,000 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $336.53, for a total transaction of $673,060.00. Following the sale, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $1,628,468.67. The disclosure for this sale can be found here. Insiders sold 7,487 shares of company stock valued at $2,612,291 over the last quarter. 0.10% of the stock is owned by company insiders.

S&P Global Price Performance

NYSE SPGI traded down $1.25 during midday trading on Friday, hitting $376.65. The company had a trading volume of 977,925 shares, compared to its average volume of 1,770,033. The company has a market capitalization of $125.61 billion, a PE ratio of 28.07, a P/E/G ratio of 2.74 and a beta of 1.04. The company has a current ratio of 1.26, a quick ratio of 1.38 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $345.78 and a 200-day moving average price of $372.31. S&P Global Inc. has a twelve month low of $311.87 and a twelve month high of $484.21.

S&P Global (NYSE:SPGIGet Rating) last issued its earnings results on Tuesday, August 2nd. The business services provider reported $2.81 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.12). The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3 billion. S&P Global had a return on equity of 17.22% and a net margin of 38.49%. The firm’s revenue was up 42.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.62 EPS. As a group, analysts anticipate that S&P Global Inc. will post 11.49 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 26th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, August 25th. S&P Global’s dividend payout ratio is currently 25.34%.

S&P Global Profile

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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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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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