Byrne Asset Management LLC Raises Stock Position in S&P Global Inc. (NYSE:SPGI)

Byrne Asset Management LLC lifted its stake in shares of S&P Global Inc. (NYSE:SPGI) by 5,350.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 654 shares of the business services provider’s stock after acquiring an additional 642 shares during the quarter. Byrne Asset Management LLC’s holdings in S&P Global were worth $332,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealthfront Advisers LLC increased its position 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. Graham Capital Management L.P. purchased a new position in shares of S&P Global during the fourth quarter worth approximately $14,040,000. Freestone Capital Holdings LLC increased its position in shares of S&P Global by 0.4% during the fourth quarter. Freestone Capital Holdings LLC now owns 11,499 shares of the business services provider’s stock worth $5,727,000 after acquiring an additional 49 shares during the period. Asset Management One Co. Ltd. increased its position in shares of S&P Global by 0.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 153,466 shares of the business services provider’s stock worth $77,009,000 after acquiring an additional 1,432 shares during the period. Finally, Asahi Life Asset Management CO. LTD. increased its position in shares of S&P Global by 85.9% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 1,288 shares of the business services provider’s stock worth $641,000 after acquiring an additional 595 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SPGI shares. Stifel Nicolaus dropped their price objective on shares of S&P Global from $629.00 to $603.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird dropped 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 note on Wednesday, April 30th. Wall Street Zen downgraded shares of S&P Global from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company increased their price objective on shares of S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, UBS Group increased their price objective on shares of S&P Global from $555.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Two research 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $592.71.

Insider Transactions at S&P Global

In related news, EVP Sally Moore sold 500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 5,131 shares in the company, valued at $2,619,016.33. The trade was a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

S&P Global Price Performance

NYSE SPGI opened at $501.03 on Friday. The firm’s fifty day simple moving average is $497.12 and its two-hundred day simple moving average is $504.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $545.39. The firm has a market capitalization of $153.67 billion, a P/E ratio of 40.57, a P/E/G ratio of 2.41 and a beta of 1.20.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.23 by $0.14. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. 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 firm posted $4.01 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. 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 was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.96 per share. The ex-dividend date was Wednesday, May 28th. This represents a $3.84 annualized dividend and a dividend yield of 0.77%. S&P Global’s payout ratio is currently 30.16%.

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.