Harrell Investment Partners LLC Cuts Stake in S&P Global Inc. (NYSE:SPGI)

Harrell Investment Partners LLC trimmed its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 11.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,942 shares of the business services provider's stock after selling 651 shares during the quarter. Harrell Investment Partners LLC's holdings in S&P Global were worth $2,511,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SPGI. Minot DeBlois Advisors LLC acquired a new position in S&P Global in the fourth quarter worth about $25,000. Anderson Financial Strategies LLC acquired a new position in S&P Global in the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in S&P Global in the fourth quarter worth about $31,000. Hazlett Burt & Watson Inc. grew its stake in S&P Global by 131.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock worth $32,000 after purchasing an additional 38 shares in the last quarter. Finally, BankPlus Trust Department acquired a new position in S&P Global in the fourth quarter worth about $40,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Sally Moore sold 500 shares of the 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 completion of the transaction, the executive vice president now directly owns 5,131 shares of the company's stock, valued at $2,619,016.33. This represents a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

S&P Global Stock Performance

Shares of NYSE:SPGI opened at $502.59 on Thursday. The company's 50 day simple moving average is $499.48 and its 200 day simple moving average is $503.68. The stock has a market capitalization of $154.14 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. 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 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 posted its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, topping analysts' consensus estimates of $4.23 by $0.14. The firm had revenue of $3.78 billion for 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 company's revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.01 earnings per share. As a group, research 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 announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Wednesday, May 28th. S&P Global's payout ratio is presently 30.16%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SPGI. Mizuho began coverage on S&P Global in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $599.00 target price for the company. Robert W. Baird dropped their target price on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group boosted their target price on S&P Global from $555.00 to $575.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on S&P Global from $618.00 to $565.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company increased their price objective on S&P Global from $607.00 to $627.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, S&P Global has a consensus rating of "Moderate Buy" and a consensus target price of $592.71.

S&P Global Company 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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