Axxcess Wealth Management LLC Has $931,000 Position in S&P Global Inc. (NYSE:SPGI)

Axxcess Wealth Management LLC trimmed its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 43.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,832 shares of the business services provider's stock after selling 1,380 shares during the period. Axxcess Wealth Management LLC's holdings in S&P Global were worth $931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPGI. Norges Bank acquired a new stake in shares of S&P Global during the 4th quarter valued at about $1,725,084,000. GAMMA Investing LLC boosted its position in shares of S&P Global by 60,982.3% during the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock valued at $1,086,877,000 after acquiring an additional 2,135,599 shares in the last quarter. Northern Trust Corp boosted its position in shares of S&P Global by 19.1% during the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock valued at $1,631,568,000 after acquiring an additional 525,347 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of S&P Global during the 4th quarter valued at about $238,503,000. Finally, BlueSpruce Investments LP acquired a new stake in shares of S&P Global during the 4th quarter valued at about $178,858,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Sally Moore sold 500 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the transaction, the executive vice president directly owned 5,131 shares in the company, valued at approximately $2,619,016.33. This represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SPGI. UBS Group lifted their target price on shares of S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Tuesday. Oppenheimer lifted their target price on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Bank of America began coverage on shares of S&P Global in a research report on Thursday, April 10th. They set a "buy" rating and a $600.00 target price on the stock. Robert W. Baird decreased their target price on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, 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. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $596.79.

S&P Global Price Performance

Shares of SPGI stock traded down $2.78 during trading hours on Friday, reaching $527.05. 816,683 shares of the company were exchanged, compared to its average volume of 1,229,109. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $545.39. The stock's fifty day moving average is $515.64 and its two-hundred day moving average is $505.48. The company has a market cap of $161.65 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 2.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.14. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business earned $4.01 earnings per share. S&P Global's quarterly revenue was up 8.2% on a year-over-year basis. Sell-side analysts forecast that S&P Global Inc. will post 17.11 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 Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.73%. S&P Global's payout ratio is 30.16%.

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.