Cresset Asset Management LLC Sells 41,510 Shares of S&P Global Inc. (NYSE:SPGI)

Cresset Asset Management LLC reduced its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 65.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,260 shares of the business services provider's stock after selling 41,510 shares during the period. Cresset Asset Management LLC's holdings in S&P Global were worth $11,086,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Eastern Bank grew its position in shares of S&P Global by 3.1% in the 4th quarter. Eastern Bank now owns 50,157 shares of the business services provider's stock valued at $24,980,000 after purchasing an additional 1,530 shares during the period. Wealthfront Advisers LLC raised its holdings in shares of S&P Global by 19.1% during the fourth quarter. Wealthfront Advisers LLC now owns 37,746 shares of the business services provider's stock worth $18,799,000 after acquiring an additional 6,051 shares during the period. Synergy Asset Management LLC raised its holdings in shares of S&P Global by 110.8% during the fourth quarter. Synergy Asset Management LLC now owns 23,868 shares of the business services provider's stock worth $12,066,000 after acquiring an additional 12,547 shares during the period. Miracle Mile Advisors LLC boosted its stake in S&P Global by 50.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 21,496 shares of the business services provider's stock worth $10,705,000 after purchasing an additional 7,170 shares during the period. Finally, James Hambro & Partners LLP boosted its stake in S&P Global by 0.9% in the 4th quarter. James Hambro & Partners LLP now owns 217,029 shares of the business services provider's stock worth $108,173,000 after purchasing an additional 1,899 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on SPGI. StockNews.com lowered S&P Global from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of S&P Global from $607.00 to $627.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Stifel Nicolaus reduced their target price on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on shares of S&P Global from $618.00 to $565.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, BMO Capital Markets boosted their price target on shares of S&P Global from $576.00 to $590.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $592.71.

Insider Transactions at S&P Global

In related news, EVP Sally Moore sold 500 shares of the stock in a transaction that occurred 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 now owns 5,131 shares of the company's stock, valued at $2,619,016.33. This represents a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.10% of the company's stock.

S&P Global Stock Performance

Shares of NYSE:SPGI traded down $0.17 during trading on Friday, reaching $507.44. 941,827 shares of the stock were exchanged, compared to its average volume of 1,222,230. S&P Global Inc. has a 12 month low of $419.49 and a 12 month high of $545.39. The stock has a 50-day moving average price of $486.24 and a 200-day moving average price of $501.60. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a market cap of $155.63 billion, a PE ratio of 41.09, a PEG ratio of 2.41 and a beta of 1.23.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.14. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the company posted $4.01 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. Research analysts expect 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 will be paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.96 per share. The ex-dividend date is Wednesday, May 28th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.76%. S&P Global's payout ratio is presently 30.16%.

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.