Douglas L. Peterson Sells 7,500 Shares of S&P Global Inc. (NYSE:SPGI) Stock

kopsource · Aug 9, 2022 01:21

S&P Global Inc. (NYSE:SPGI – Get Rating) CEO Douglas L. Peterson sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $377.13, for a total transaction of $2,828,475.00. Following the sale, the chief executive officer now owns 174,890 shares in the company, valued at $65,956,265.70. The sale was disclosed in a filing with the SEC, which is available at this link.

S&P Global Trading Down 0.4 %

Shares of NYSE:SPGI traded down $1.45 on Monday, hitting $375.20. The company had a trading volume of 13,583 shares, compared to its average volume of 2,379,472. The firm's 50-day simple moving average is $345.78 and its two-hundred day simple moving average is $371.64. S&P Global Inc. has a 1 year low of $311.87 and a 1 year high of $484.21. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $127.50 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 2.73 and a beta of 1.04.

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S&P Global (NYSE:SPGI – Get Rating) last issued 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). S&P Global had a net margin of 38.49% and a return on equity of 17.22%. The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3 billion. During the same period last year, the business earned $3.62 earnings per share. The company's revenue was up 42.1% on a year-over-year basis. Equities 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. Shareholders of record on Friday, August 26th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, August 25th. This represents a $3.40 dividend on an annualized basis and a yield of 0.91%. S&P Global's dividend payout ratio is currently 25.34%.

Institutional Trading of S&P Global

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in S&P Global by 44.5% during the first quarter. Vanguard Group Inc. now owns 29,370,454 shares of the business services provider's stock valued at $12,047,173,000 after buying an additional 9,042,302 shares during the period. BlackRock Inc. lifted its holdings in shares of S&P Global by 43.8% in the first quarter. BlackRock Inc. now owns 27,047,127 shares of the business services provider's stock worth $11,094,191,000 after buying an additional 8,234,255 shares in the last quarter. State Street Corp lifted its holdings in shares of S&P Global by 45.0% in the first quarter. State Street Corp now owns 16,352,445 shares of the business services provider's stock worth $6,707,446,000 after buying an additional 5,078,366 shares in the last quarter. Wellington Management Group LLP raised its stake in S&P Global by 47.8% during the first quarter. Wellington Management Group LLP now owns 8,476,209 shares of the business services provider's stock valued at $3,476,772,000 after purchasing an additional 2,742,007 shares in the last quarter. Finally, TCI Fund Management Ltd. raised its stake in S&P Global by 82.1% during the first quarter. TCI Fund Management Ltd. now owns 6,823,072 shares of the business services provider's stock valued at $2,798,688,000 after purchasing an additional 3,075,788 shares in the last quarter. 94.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPGI has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price target on shares of S&P Global from $540.00 to $434.00 in a research note on Thursday, June 2nd. Atlantic Securities lowered their target price on shares of S&P Global from $440.00 to $375.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 8th. Robert W. Baird lowered their target price on shares of 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of S&P Global from $483.00 to $418.00 in a research note on Thursday, June 2nd. Finally, 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. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $422.00.

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.