Ironwood Investment Management LLC Sells 25 Shares of S&P Global Inc. (NYSE:SPGI)

Ironwood Investment Management LLC cut its holdings in S&P Global Inc. (NYSE:SPGI) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,757 shares of the business services provider’s stock after selling 25 shares during the period. Ironwood Investment Management LLC’s holdings in S&P Global were worth $784,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SPGI. Pineridge Advisors LLC acquired a new stake in shares of S&P Global during the 4th quarter worth approximately $26,000. Sachetta LLC lifted its stake in S&P Global by 103.4% during the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after purchasing an additional 30 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of S&P Global in the 2nd quarter valued at $31,000. First Pacific Financial boosted its holdings in shares of S&P Global by 49.0% in the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 24 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of S&P Global in the 2nd quarter valued at $36,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the completion of the sale, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the sale, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock worth $8,645,727 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Oppenheimer increased their price objective on S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and an average target price of $548.18.

S&P Global Stock Up 0.2 %

NYSE:SPGI opened at $512.72 on Monday. The firm has a market cap of $160.43 billion, a P/E ratio of 57.48, a P/E/G ratio of 2.91 and a beta of 1.17. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $528.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50-day simple moving average of $502.21 and a two-hundred day simple moving average of $458.44.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. S&P Global’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.12 earnings per share. Analysts predict that S&P Global Inc. will post 14.57 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. S&P Global’s dividend payout ratio is presently 40.81%.

About S&P Global

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.