Bellwether Advisors LLC Grows Stock Position in S&P Global Inc. (NYSE:SPGI)

Key Points

• Bellwether Advisors LLC dramatically increased its stake in S&P Global Inc. by 72,470.0% in the first quarter, holding 7,257 shares valued at approximately $3.69 million.
• S&P Global reported a quarterly earnings per share (EPS) of $4.37, surpassing analysts' expectations of $4.23, alongside an 8.2% year-over-year revenue increase.
• The company announced a $0.96 quarterly dividend, with a yield of 0.72%, expected to be paid on September 10th to stockholders of record.

Bellwether Advisors LLC raised its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 72,470.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,257 shares of the business services provider's stock after buying an additional 7,247 shares during the period. Bellwether Advisors LLC's holdings in S&P Global were worth $3,687,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Metis Global Partners LLC raised its stake in shares of S&P Global by 13.5% during the 1st quarter. Metis Global Partners LLC now owns 22,797 shares of the business services provider's stock valued at $11,583,000 after buying an additional 2,703 shares during the last quarter. Nemes Rush Group LLC raised its stake in shares of S&P Global by 1.3% during the 1st quarter. Nemes Rush Group LLC now owns 16,129 shares of the business services provider's stock valued at $8,195,000 after buying an additional 206 shares during the last quarter. LPL Financial LLC raised its stake in shares of S&P Global by 9.0% during the 1st quarter. LPL Financial LLC now owns 294,521 shares of the business services provider's stock valued at $148,888,000 after buying an additional 24,422 shares during the last quarter. Alteri Wealth LLC raised its stake in shares of S&P Global by 5.4% during the 1st quarter. Alteri Wealth LLC now owns 1,742 shares of the business services provider's stock valued at $885,000 after buying an additional 89 shares during the last quarter. Finally, Texas Yale Capital Corp. grew its position in shares of S&P Global by 0.7% during the 1st quarter. Texas Yale Capital Corp. now owns 5,989 shares of the business services provider's stock valued at $3,043,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

SPGI has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price on S&P Global from $627.00 to $632.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Morgan Stanley raised their target price on S&P Global from $587.00 to $595.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. raised their target price 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. Stifel Nicolaus dropped their target price on S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Oppenheimer raised their target price on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $601.07.

S&P Global Price Performance

SPGI traded down $4.64 during trading on Monday, reaching $530.31. The company's stock had a trading volume of 877,893 shares, compared to its average volume of 886,942. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $518.61 and a two-hundred day simple moving average of $507.86. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $545.39. The company has a market cap of $162.65 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 2.58 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last released 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. 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 for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company posted $4.01 EPS. The business's revenue was up 8.2% on a year-over-year basis. As a group, analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently announced 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. This represents a $3.84 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is 30.16%.

Insiders Place Their Bets

In other news, EVP Sally Moore sold 500 shares of S&P Global 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 sale, the executive vice president owned 5,131 shares of the company's stock, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

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.