Envestnet Asset Management Inc. Reduces Stake in S&P Global Inc. (NYSE:SPGI)

Envestnet Asset Management Inc. lessened its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 14.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 926,748 shares of the business services provider's stock after selling 157,065 shares during the period. Envestnet Asset Management Inc. owned 0.30% of S&P Global worth $470,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPGI. Brighton Jones LLC grew its stake in shares of S&P Global by 4.7% during the fourth quarter. Brighton Jones LLC now owns 3,176 shares of the business services provider's stock worth $1,582,000 after acquiring an additional 143 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of S&P Global by 3.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 74,479 shares of the business services provider's stock worth $37,093,000 after acquiring an additional 2,413 shares during the last quarter. GHE LLC grew its stake in shares of S&P Global by 2.1% during the fourth quarter. GHE LLC now owns 13,504 shares of the business services provider's stock worth $6,725,000 after acquiring an additional 274 shares during the last quarter. Assetmark Inc. grew its stake in shares of S&P Global by 25.3% during the fourth quarter. Assetmark Inc. now owns 1,626 shares of the business services provider's stock worth $810,000 after acquiring an additional 328 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of S&P Global by 42.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,244 shares of the business services provider's stock worth $619,000 after acquiring an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

S&P Global Price Performance

Shares of SPGI traded down $3.11 during trading hours on Tuesday, hitting $527.07. 154,327 shares of the stock were exchanged, compared to its average volume of 1,229,639. The stock's 50-day moving average price is $513.36 and its two-hundred day moving average price is $504.79. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $545.39. 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 company has a market cap of $161.65 billion, a price-to-earnings ratio of 41.36, a price-to-earnings-growth ratio of 2.58 and a beta of 1.19.

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

S&P Global Dividend Announcement

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 paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.73%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio is currently 30.16%.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of research reports. Morgan Stanley lifted their target price on S&P Global from $587.00 to $595.00 and gave the stock an "overweight" rating in a report on Monday. Mizuho initiated coverage on S&P Global in a report on Wednesday, March 12th. They set an "outperform" rating and a $599.00 target price for the company. Argus raised S&P Global to a "strong-buy" rating in a report on Friday, May 16th. Bank of America initiated coverage on S&P Global in a report on Thursday, April 10th. They set a "buy" rating and a $600.00 target price for the company. Finally, Oppenheimer lifted their target price on S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $596.79.

Insider Buying and Selling

In other S&P Global news, EVP Sally Moore sold 500 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the completion of the sale, the executive vice president directly owned 5,131 shares in the company, valued at $2,619,016.33. This represents a 8.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company's stock.

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.