Envestnet Portfolio Solutions Inc. Sells 1,901 Shares of S&P Global Inc. $SPGI

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its holdings in S&P Global Inc. by 9.9%, selling 1,901 shares and now owns 17,347 shares valued at approximately $9.15 million.
• Several institutional investors, including Costello Asset Management and Cheviot Value Management, have purchased new stakes in S&P Global, reflecting strong institutional interest as they own 87.17% of the company.
• S&P Global recently announced a quarterly dividend of $0.96 per share, with a projected annual dividend yield of 0.8%, set to be paid on December 10th.

Envestnet Portfolio Solutions Inc. lowered its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 9.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,347 shares of the business services provider's stock after selling 1,901 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in S&P Global were worth $9,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SPGI. Costello Asset Management INC purchased a new position in S&P Global in the first quarter worth $26,000. Cheviot Value Management LLC purchased a new stake in S&P Global in the first quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in S&P Global in the second quarter valued at $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in S&P Global in the first quarter valued at $28,000. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of S&P Global by 103.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after acquiring an additional 31 shares during the period. Institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

SPGI has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. BMO Capital Markets upped their price target on shares of S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Seaport Res Ptn upgraded shares of S&P Global to a "strong-buy" rating in a research report on Wednesday, October 1st. Barclays upped their price target on shares of S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company upped their price target on shares of S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $614.85.

S&P Global Stock Performance

NYSE:SPGI opened at $479.18 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $146.29 billion, a P/E ratio of 36.86, a PEG ratio of 2.58 and a beta of 1.19. The company has a 50 day moving average price of $528.26 and a 200 day moving average price of $514.17. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. The firm had revenue of $1.87 billion during the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. Equities research analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global's dividend payout ratio (DPR) is presently 29.54%.

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.

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