Allen Investment Management LLC Sells 4,310 Shares of S&P Global Inc. (NYSE:SPGI)

Key Points

• Allen Investment Management LLC reduced its stake in S&P Global Inc. by 0.5%, holding now 909,052 shares which represent approximately 5.4% of their investment portfolio.
• S&P Global reported a quarterly earnings per share of $4.37, surpassing analyst expectations and reflecting an 8.2% year-over-year revenue increase to $3.78 billion.
• The company declared a quarterly dividend of $0.96, with an annualized yield of 0.72%, set to be paid on September 10th.

Allen Investment Management LLC lowered its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 909,052 shares of the business services provider's stock after selling 4,310 shares during the quarter. S&P Global comprises approximately 5.4% of Allen Investment Management LLC's holdings, making the stock its 6th largest holding. Allen Investment Management LLC owned 0.30% of S&P Global worth $461,889,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new position in shares of S&P Global during the fourth quarter worth about $25,000. Anderson Financial Strategies LLC acquired a new position in S&P Global during the 4th quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of S&P Global in the first quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC lifted 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 purchasing an additional 31 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of 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. Institutional investors and hedge funds own 87.17% of the company's stock.

Insiders Place Their Bets

In other news, EVP Sally Moore sold 500 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the sale, the executive vice president directly owned 5,131 shares of the company's stock, valued at approximately $2,619,016.33. This represents a 8.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

S&P Global Stock Performance

NYSE SPGI traded down $4.64 on Monday, reaching $530.31. The stock had a trading volume of 877,893 shares, compared to its average volume of 886,942. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $162.65 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 2.58 and a beta of 1.19. The firm has a fifty day moving average of $518.48 and a two-hundred day moving average of $507.53. 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 the consensus estimate 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 analysts' expectations of $3.72 billion. During the same quarter in the previous year, the company earned $4.01 EPS. The business's revenue was up 8.2% on a year-over-year basis. On average, equities research analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be issued 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 presently 30.16%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPGI shares. Argus upgraded S&P Global to a "strong-buy" rating in a report on Friday, May 16th. 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 note on Monday, July 21st. Oppenheimer increased their price objective on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Bank of America started coverage on shares of S&P Global in a research note on Thursday, April 10th. They set a "buy" rating and a $600.00 price objective on the stock. Finally, Morgan Stanley upped their target price on shares of S&P Global from $587.00 to $595.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Two 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $601.07.

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.