Avantax Advisory Services Inc. Increases Holdings in S&P Global Inc. (NYSE:SPGI)

Key Points

• Avantax Advisory Services Inc. increased its holdings in S&P Global Inc. by 3.3%, owning 20,607 shares valued at approximately $10.47 million after acquiring 666 additional shares in the first quarter.
• Several institutional investors, including Davis Rea LTD. and Argonautica Private Wealth Management Inc., also significantly boosted their positions, reflecting broad interest in S&P Global among hedge funds.
• S&P Global announced a $0.96 quarterly dividend to be paid on September 10th, with a yield of 0.72% and a payout ratio of 30.16% as of the latest reporting period.

Avantax Advisory Services Inc. raised its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,607 shares of the business services provider's stock after purchasing an additional 666 shares during the period. Avantax Advisory Services Inc.'s holdings in S&P Global were worth $10,470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Davis Rea LTD. bought a new position in shares of S&P Global during the first quarter valued at approximately $4,727,000. One Wealth Advisors LLC boosted its holdings in S&P Global by 31.1% in the first quarter. One Wealth Advisors LLC now owns 1,889 shares of the business services provider's stock valued at $960,000 after acquiring an additional 448 shares in the last quarter. Innova Wealth Partners purchased a new position in S&P Global during the 1st quarter valued at $208,000. Argonautica Private Wealth Management Inc. raised its holdings in S&P Global by 1,278.5% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 6,534 shares of the business services provider's stock worth $3,320,000 after purchasing an additional 6,060 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of S&P Global by 28.9% in the 1st quarter. Carnegie Investment Counsel now owns 1,289 shares of the business services provider's stock worth $655,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insiders Place Their Bets

In other S&P Global news, EVP Sally Moore sold 500 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the sale, the executive vice president directly owned 5,131 shares in the company, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.10% of the stock is currently owned by insiders.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $534.98 on Friday. The business has a fifty day moving average price of $518.48 and a 200-day moving average price of $507.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $164.08 billion, a PE ratio of 42.03, a PEG ratio of 2.58 and a beta of 1.19. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $545.39.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.14. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.72 billion. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. S&P Global's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $4.01 EPS. As a group, equities analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.72%. S&P Global's payout ratio is currently 30.16%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPGI. Morgan Stanley boosted their price target on shares of S&P Global from $587.00 to $595.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Argus raised S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. Wells Fargo & Company increased their target price on S&P Global from $627.00 to $632.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. raised their target price on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, UBS Group upped their price target on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $601.07.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.

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