Concord Wealth Partners Sells 1,193 Shares of S&P Global Inc. (NYSE:SPGI)

Concord Wealth Partners trimmed its holdings in S&P Global Inc. (NYSE:SPGI) by 62.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 727 shares of the business services provider’s stock after selling 1,193 shares during the period. Concord Wealth Partners’ holdings in S&P Global were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Exchange Traded Concepts LLC increased its holdings in S&P Global by 819.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,085 shares of the business services provider’s stock worth $396,000 after acquiring an additional 967 shares during the period. Commonwealth Equity Services LLC grew its position in shares of S&P Global by 1.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 44,961 shares of the business services provider’s stock valued at $16,430,000 after purchasing an additional 463 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of S&P Global by 2.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 57,786 shares of the business services provider’s stock worth $21,116,000 after purchasing an additional 1,320 shares during the period. Pinnacle Associates Ltd. raised its position in shares of S&P Global by 33.9% in the third quarter. Pinnacle Associates Ltd. now owns 2,130 shares of the business services provider’s stock worth $778,000 after buying an additional 539 shares in the last quarter. Finally, Mission Wealth Management LP boosted its stake in S&P Global by 2.3% during the third quarter. Mission Wealth Management LP now owns 1,825 shares of the business services provider’s stock valued at $667,000 after buying an additional 41 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Douglas L. Peterson sold 6,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $424.74, for a total transaction of $2,548,440.00. Following the transaction, the chief executive officer now directly owns 162,530 shares of the company’s stock, valued at approximately $69,032,992.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPGI. Barclays raised their price target on S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Erste Group Bank restated a “hold” rating on shares of S&P Global in a research report on Wednesday, April 3rd. Raymond James increased their target price on S&P Global from $422.00 to $452.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Stifel Nicolaus lifted their price target on S&P Global from $442.00 to $446.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, BMO Capital Markets increased their price objective on S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus target price of $462.60.

S&P Global Price Performance

SPGI stock opened at $416.20 on Thursday. The firm has a 50 day moving average price of $423.26 and a 200-day moving average price of $418.76. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $461.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $130.23 billion, a price-to-earnings ratio of 46.66, a PEG ratio of 2.32 and a beta of 1.14.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.33. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. Equities research analysts forecast that S&P Global Inc. will post 14.1 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.87%. S&P Global’s dividend payout ratio is presently 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.