Regal Investment Advisors LLC trimmed its stake in shares of S&P Global Inc. (NYSE:SPGI – Get Rating) by 17.4% in 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 quarter. Regal Investment Advisors LLC’s holdings in S&P Global were worth $1,185,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SPGI. Wealthfront Advisers LLC increased its position in S&P Global by 10.4% in the 4th quarter. Wealthfront Advisers LLC now owns 14,046 shares of the business services provider’s stock valued at $6,629,000 after acquiring an additional 1,318 shares during the period. Fifth Third Bancorp increased its position in S&P Global by 3.4% in the 4th quarter. Fifth Third Bancorp now owns 96,314 shares of the business services provider’s stock valued at $45,453,000 after acquiring an additional 3,192 shares during the period. Peapack Gladstone Financial Corp increased its position in S&P Global by 472.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 30,349 shares of the business services provider’s stock valued at $12,895,000 after acquiring an additional 25,050 shares during the period. Two Sigma Investments LP increased its position in S&P Global by 80.5% in the 3rd quarter. Two Sigma Investments LP now owns 515,907 shares of the business services provider’s stock valued at $219,204,000 after acquiring an additional 230,144 shares during the period. Finally, Paragon Capital Management Ltd acquired a new position in S&P Global in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 94.26% of the company’s stock.
In other news, insider Dimitra Manis sold 2,636 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $405.41, for a total value of $1,068,660.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Martina Cheung sold 3,870 shares of the stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $381.28, for a total transaction of $1,475,553.60. The disclosure for this sale can be found here. Insiders sold 11,280 shares of company stock worth $4,478,177 over the last ninety days. Insiders own 0.10% of the company’s stock.
S&P Global (NYSE:SPGI – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The business services provider reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.99 by ($0.10). S&P Global had a net margin of 40.43% and a return on equity of 31.07%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the business posted $3.39 earnings per share. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, research analysts forecast that S&P Global Inc. will post 13.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend 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 (DPR) is 22.22%.
A number of research firms have recently commented on SPGI. The Goldman Sachs Group began coverage on shares of S&P Global in a research note on Tuesday, March 8th. They issued a “buy” rating and a $485.00 price objective on the stock. Barclays reaffirmed an “overweight” rating and issued a $500.00 price objective on shares of S&P Global in a research note on Tuesday, March 8th. StockNews.com began coverage on shares of S&P Global in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Jefferies Financial Group began coverage on shares of S&P Global in a research note on Wednesday, March 2nd. They issued a “buy” rating and a $453.00 price objective on the stock. Finally, Morgan Stanley cut their target price on shares of S&P Global from $468.00 to $459.00 and set an “overweight” rating on the stock in a research note on Thursday, March 17th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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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