HB Wealth Management LLC Has $10.05 Million Position in S&P Global Inc. (NYSE:SPGI)

Key Points

• HB Wealth Management LLC has increased its holdings in S&P Global by 162.2% in the first quarter, owning 19,777 shares valued at approximately $10 million.
• S&P Global reported earnings of $4.37 per share for the last quarter, exceeding estimates and showing an 8.2% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.96 per share, translating to an annualized yield of 0.72%.

HB Wealth Management LLC lifted its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 162.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,777 shares of the business services provider's stock after acquiring an additional 12,235 shares during the period. HB Wealth Management LLC's holdings in S&P Global were worth $10,049,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new position in S&P Global during the fourth quarter worth about $25,000. Anderson Financial Strategies LLC purchased a new position in shares of S&P Global during the fourth quarter valued at about $27,000. Smallwood Wealth Investment Management LLC purchased a new position in S&P Global during the first quarter valued at $28,000. CBIZ Investment Advisory Services LLC grew its stake in shares of S&P Global by 103.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after buying an additional 31 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of S&P Global by 131.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider's stock valued at $32,000 after buying an additional 38 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPGI has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on S&P Global from $587.00 to $595.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Bank of America began coverage on S&P Global in a report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Robert W. Baird lowered their price objective 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, Argus raised S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $601.07.

S&P Global Trading Up 0.6%

SPGI traded up $3.44 during trading on Wednesday, hitting $534.23. 348,880 shares of the stock were exchanged, compared to its average volume of 1,274,708. The firm has a 50 day simple moving average of $518.79 and a 200 day simple moving average of $508.02. 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 $163.85 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 2.55 and a beta of 1.19. 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 data 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. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm posted $4.01 earnings per share. The company's revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

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

Insider Activity at S&P Global

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 value of $255,215.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.