Clark Capital Management Group Inc. Cuts Stake in S&P Global Inc. (NYSE:SPGI)

Clark Capital Management Group Inc. reduced its stake in S&P Global Inc. (NYSE:SPGIGet Rating) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,287 shares of the business services provider’s stock after selling 559 shares during the period. Clark Capital Management Group Inc.’s holdings in S&P Global were worth $1,758,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of S&P Global by 44.5% during the first quarter. Vanguard Group Inc. now owns 29,370,454 shares of the business services provider’s stock valued at $12,047,173,000 after buying an additional 9,042,302 shares during the last quarter. BlackRock Inc. boosted its position in shares of S&P Global by 43.8% during the first quarter. BlackRock Inc. now owns 27,047,127 shares of the business services provider’s stock valued at $11,094,191,000 after buying an additional 8,234,255 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of S&P Global by 987.8% during the first quarter. Canada Pension Plan Investment Board now owns 2,608,399 shares of the business services provider’s stock valued at $1,069,913,000 after buying an additional 2,368,607 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of S&P Global by 11,089.7% during the first quarter. Clearbridge Investments LLC now owns 2,230,227 shares of the business services provider’s stock valued at $914,794,000 after buying an additional 2,210,296 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of S&P Global during the fourth quarter valued at $822,231,000. 88.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on SPGI shares. BMO Capital Markets dropped their price objective on S&P Global from $433.00 to $365.00 in a research report on Thursday, June 2nd. Barclays dropped their target price on S&P Global from $450.00 to $385.00 and set an “overweight” rating on the stock in a research report on Friday, June 3rd. Jefferies Financial Group dropped their target price on S&P Global from $440.00 to $416.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. UBS Group dropped their target price on S&P Global from $441.00 to $407.00 and set a “buy” rating on the stock in a research report on Monday, June 6th. Finally, Morgan Stanley dropped their target price on S&P Global from $398.00 to $390.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $416.43.

S&P Global Stock Up 0.6 %

Shares of SPGI opened at $369.42 on Monday. The business’s 50 day moving average is $365.08 and its 200 day moving average is $367.15. The company has a market capitalization of $123.20 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05. S&P Global Inc. has a 12-month low of $311.87 and a 12-month high of $484.21. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.27.

S&P Global (NYSE:SPGIGet Rating) last issued its earnings results on Tuesday, August 2nd. The business services provider reported $2.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.91 by ($0.10). The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3 billion. S&P Global had a net margin of 38.49% and a return on equity of 17.22%. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same period last year, the business posted $3.62 EPS. Research analysts expect that S&P Global Inc. will post 11.49 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 26th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, August 25th. S&P Global’s dividend payout ratio is presently 25.34%.

Insider Buying and Selling at S&P Global

In other S&P Global news, insider Martina Cheung sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $385.78, for a total transaction of $1,157,340.00. Following the completion of the transaction, the insider now owns 6,783 shares in the company, valued at approximately $2,616,745.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Douglas L. Peterson sold 7,500 shares of S&P Global stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $377.13, for a total value of $2,828,475.00. Following the completion of the transaction, the chief executive officer now owns 174,890 shares in the company, valued at approximately $65,956,265.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Martina Cheung sold 3,000 shares of S&P Global stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $385.78, for a total value of $1,157,340.00. Following the completion of the transaction, the insider now owns 6,783 shares of the company’s stock, valued at approximately $2,616,745.74. The disclosure for this sale can be found here. Insiders sold 27,150 shares of company stock worth $10,146,219 in the last quarter. 0.10% of the stock is owned by corporate insiders.

About S&P Global

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S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

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