Allen Investment Management LLC Sells 5,998 Shares of S&P Global Inc. $SPGI

Key Points

• Allen Investment Management cut its S&P Global stake by 65.2% in the third quarter, selling 5,998 shares and retaining 3,202 shares valued at about $1.26 million.
• Institutional investors showed mixed activity: International Assets Investment Management sharply increased its holdings, while several other funds also added shares. Institutions collectively own 87.17% of S&P Global.
• S&P Global beat quarterly earnings and revenue estimates, with revenue up 6.8% year over year. Analysts’ average rating was “Moderate Buy,” with an average price target of $523.35; the company also declared a quarterly dividend of $0.97 per share.

Allen Investment Management LLC cut its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 65.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,202 shares of the business services provider's stock after selling 5,998 shares during the period. Allen Investment Management LLC's holdings in S&P Global were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SPGI. International Assets Investment Management LLC boosted its holdings in S&P Global by 27,133.1% during the third quarter. International Assets Investment Management LLC now owns 250,000 shares of the business services provider's stock worth $98,618,000 after buying an additional 249,082 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in S&P Global by 225.8% during the third quarter. Richardson Financial Services Inc. now owns 101 shares of the business services provider's stock valued at $40,000 after purchasing an additional 70 shares during the period. Ascent Group LLC grew its holdings in S&P Global by 35.8% during the third quarter. Ascent Group LLC now owns 5,506 shares of the business services provider's stock valued at $2,172,000 after purchasing an additional 1,453 shares during the period. 3Chopt Investment Partners LLC increased its stake in S&P Global by 8.6% in the third quarter. 3Chopt Investment Partners LLC now owns 884 shares of the business services provider's stock valued at $349,000 after purchasing an additional 70 shares in the last quarter. Finally, Compass Financial Management LLC increased its stake in S&P Global by 31.5% in the third quarter. Compass Financial Management LLC now owns 192 shares of the business services provider's stock valued at $76,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

S&P Global Trading Down 0.9%

S&P Global stock opened at $468.02 on Friday. The company has a market cap of $135.68 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 2.21 and a beta of 1.03. The firm has a 50-day moving average of $425.44 and a 200-day moving average of $429.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.74. S&P Global Inc. has a one year low of $381.61 and a one year high of $552.25.

S&P Global (NYSE:SPGI - Get Free Report) last released its earnings results on Tuesday, October 27th. The business services provider reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.43 by $0.15. S&P Global had a return on equity of 19.46% and a net margin of 32.21%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the company posted $4.73 earnings per share. S&P Global's revenue was up 6.8% on a year-over-year basis. On average, equities analysts expect that S&P Global Inc. will post 17.89 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be paid a dividend of $0.97 per share. The ex-dividend date is Wednesday, November 25th. This represents a $3.88 annualized dividend and a dividend yield of 0.8%. S&P Global's payout ratio is currently 23.14%.

Analysts Set New Price Targets

Several research firms have weighed in on SPGI. Citigroup increased their target price on shares of S&P Global from $500.00 to $520.00 and gave the stock a "buy" rating in a report on Wednesday, October 28th. Stifel Nicolaus boosted their price target on shares of S&P Global from $489.00 to $521.00 and gave the company a "buy" rating in a report on Friday, July 17th. Wells Fargo & Company boosted their price target on shares of S&P Global from $525.00 to $545.00 and gave the company an "overweight" rating in a report on Wednesday, October 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $510.00 price objective on shares of S&P Global in a research report on Wednesday, August 26th. Finally, BMO Capital Markets dropped their price objective on S&P Global from $505.00 to $500.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 13th. Eighteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, S&P Global presently has an average rating of "Moderate Buy" and an average price target of $523.35.

S&P Global Profile

S&P Global Inc provides financial information, credit ratings, benchmarks, analytics and data to businesses, governments and investors around the world. Its services include credit ratings and research through S&P Global Ratings, financial data and analytics through S&P Global Market Intelligence, and information and benchmarks for energy and commodities markets through S&P Global Commodity Insights.

The company also develops market indices through S&P Dow Jones Indices, a joint venture in which S&P Global is the majority owner, and provides data and analytics for the automotive industry through S&P Global Mobility.

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