Dock Street Asset Management Inc. Sells 2,372 Shares of S&P Global Inc. (NYSE:SPGI)

Dock Street Asset Management Inc. reduced its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,462 shares of the business services provider's stock after selling 2,372 shares during the quarter. S&P Global accounts for 1.7% of Dock Street Asset Management Inc.'s holdings, making the stock its 18th biggest position. Dock Street Asset Management Inc.'s holdings in S&P Global were worth $14,462,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SPGI. Minot DeBlois Advisors LLC purchased a new position in S&P Global during the fourth quarter valued at approximately $25,000. Anderson Financial Strategies LLC acquired a new stake in shares of S&P Global in the fourth quarter worth $27,000. Smallwood Wealth Investment Management LLC acquired a new position in S&P Global during the 1st quarter valued at $28,000. Hazlett Burt & Watson Inc. raised its stake in S&P Global by 131.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock valued at $32,000 after purchasing an additional 38 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in S&P Global during the 1st quarter valued at $33,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at S&P Global

In related news, EVP Sally Moore sold 500 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $510.43, for a total value of $255,215.00. Following the completion of the transaction, the executive vice president directly owned 5,131 shares of the company's stock, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate insiders.

S&P Global Stock Up 0.5%

SPGI stock traded up $2.73 during mid-day trading on Monday, hitting $529.80. 132,584 shares of the company were exchanged, compared to its average volume of 1,224,277. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $162.49 billion, a P/E ratio of 41.63, a P/E/G ratio of 2.56 and a beta of 1.19. The firm's 50 day simple moving average is $515.64 and its 200 day simple moving average is $505.49. 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 issued its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.14. The company had revenue of $3.78 billion during the quarter, compared to analysts' expectations of $3.72 billion. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $4.01 EPS. On average, sell-side analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $0.96 per share. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.72%. S&P Global's dividend payout ratio is currently 30.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPGI. JPMorgan Chase & Co. dropped their price objective on shares of S&P Global from $618.00 to $565.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley upped their target price on shares of S&P Global from $587.00 to $595.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wells Fargo & Company upped their target price on shares of S&P Global from $627.00 to $632.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Stifel Nicolaus decreased their price objective on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Oppenheimer increased their price objective on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $596.79.

About S&P Global

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.