IFP Advisors Inc Sells 2,573 Shares of S&P Global Inc. $SPGI

Key Points

• IFP Advisors Inc reduced its stake in S&P Global Inc. by 48.7%, selling 2,573 shares and bringing its total holdings to 2,712 shares valued at $1.44 million.
• Several large investors have initiated new positions in S&P Global, with 87.17% of the stock owned by institutional investors, highlighting strong institutional interest.
• Research analysts have generally positive outlooks for the company, with a consensus rating of "Buy" and an average target price of $614.85, reflecting confidence in its future performance.

IFP Advisors Inc reduced its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 48.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,712 shares of the business services provider's stock after selling 2,573 shares during the period. IFP Advisors Inc's holdings in S&P Global were worth $1,442,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cheviot Value Management LLC bought a new position in shares of S&P Global in the first quarter worth $26,000. Costello Asset Management INC bought a new stake in S&P Global during the first quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in S&P Global during the second quarter valued at $26,000. Smallwood Wealth Investment Management LLC bought a new stake in S&P Global during the first quarter valued at $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock valued at $31,000 after buying an additional 31 shares during the period. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPGI has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on S&P Global from $660.00 to $661.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. Barclays lifted their price objective on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price objective on S&P Global from $615.00 to $620.00 and gave the company an "overweight" rating in a research note on Thursday. UBS Group lifted their price objective on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $614.85.

S&P Global Trading Down 0.3%

NYSE SPGI opened at $486.39 on Monday. The stock's 50-day simple moving average is $529.93 and its two-hundred day simple moving average is $514.33. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $148.49 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.58 and a beta of 1.19.

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

S&P Global Dividend Announcement

The business 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. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. S&P Global's payout ratio is currently 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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