Herold Advisors Inc. Reduces Holdings in S&P Global Inc. (NYSE:SPGI)

Financial News Live · Aug 9, 2022 00:41

Herold Advisors Inc. reduced its stake in S&P Global Inc. (NYSE:SPGI – Get Rating) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,270 shares of the business services provider's stock after selling 200 shares during the period. S&P Global comprises 1.1% of Herold Advisors Inc.'s investment portfolio, making the stock its 17th largest position. Herold Advisors Inc.'s holdings in S&P Global were worth $2,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Industrial Alliance Investment Management Inc. bought a new stake in shares of S&P Global in the fourth quarter worth about $25,000. Wolff Wiese Magana LLC purchased a new stake in S&P Global in the 1st quarter worth approximately $25,000. Carolinas Wealth Consulting LLC grew its position in shares of S&P Global by 714.3% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 57 shares of the business services provider's stock worth $27,000 after buying an additional 50 shares during the last quarter. Addison Advisors LLC grew its position in shares of S&P Global by 273.7% in the 1st quarter. Addison Advisors LLC now owns 71 shares of the business services provider's stock worth $29,000 after buying an additional 52 shares during the last quarter. Finally, Column Capital Advisors LLC increased its stake in shares of S&P Global by 7,700.0% during the first quarter. Column Capital Advisors LLC now owns 78 shares of the business services provider's stock valued at $32,000 after buying an additional 77 shares during the period. Institutional investors own 94.26% of the company's stock.

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Insider Activity

In other news, EVP Nancy Luquette sold 2,287 shares of S&P Global stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $333.74, for a total transaction of $763,263.38. Following the transaction, the executive vice president now directly owns 5,667 shares of the company's stock, valued at approximately $1,891,304.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Nancy Luquette sold 2,287 shares of the firm's stock in a transaction on Friday, May 13th. The shares were sold at an average price of $333.74, for a total transaction of $763,263.38. Following the completion of the transaction, the executive vice president now directly owns 5,667 shares of the company's stock, valued at $1,891,304.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dimitra Manis sold 2,000 shares of the business's stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $336.53, for a total transaction of $673,060.00. Following the completion of the sale, the executive vice president now owns 4,839 shares in the company, valued at $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 in the last quarter. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SPGI. Royal Bank of Canada dropped their price target on S&P Global from $540.00 to $434.00 in a research note on Thursday, June 2nd. Credit Suisse Group cut their target price on shares of S&P Global from $495.00 to $425.00 in a research note on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of S&P Global from $483.00 to $418.00 in a research report on Thursday, June 2nd. UBS Group lowered their price objective on shares of S&P Global from $441.00 to $407.00 and set a "buy" rating for the company in a report on Monday, June 6th. Finally, Morgan Stanley reduced their target price on S&P Global from $398.00 to $390.00 and set an "overweight" rating on the stock in a report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, S&P Global has an average rating of "Moderate Buy" and an average price target of $422.00.

S&P Global Stock Up 0.2 %

S&P Global stock traded up $0.82 during mid-day trading on Monday, hitting $377.47. The company had a trading volume of 9,425 shares, compared to its average volume of 2,379,472. S&P Global Inc. has a 12 month low of $311.87 and a 12 month high of $484.21. The company has a market capitalization of $128.27 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 2.73 and a beta of 1.04. The stock's 50 day moving average price is $345.78 and its two-hundred day moving average price is $371.64. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.27.

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

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 26th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, August 25th. S&P Global's dividend payout ratio (DPR) is presently 25.34%.

About S&P Global

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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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