Oppenheimer & Co. Inc. Sells 160 Shares of S&P Global Inc. (NYSE:SPGI)

Posted by Defense World Staff on May 12th, 2023

Oppenheimer & Co. Inc. cut its position in shares of S&P Global Inc. (NYSE:SPGI – Get Rating) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,981 shares of the business services provider’s stock after selling 160 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in S&P Global were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in shares of S&P Global by 39.5% in the 1st quarter. Northern Trust Corp now owns 3,727,874 shares of the business services provider’s stock worth $1,529,100,000 after purchasing an additional 1,056,097 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of S&P Global by 1.0% in the third quarter. Canada Pension Plan Investment Board now owns 2,605,597 shares of the business services provider’s stock worth $795,619,000 after acquiring an additional 25,398 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of S&P Global by 1.3% during the third quarter. Jennison Associates LLC now owns 2,333,284 shares of the business services provider’s stock valued at $712,468,000 after acquiring an additional 29,631 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of S&P Global by 11,089.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,230,227 shares of the business services provider’s stock worth $914,794,000 after purchasing an additional 2,210,296 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in S&P Global by 49.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,801,772 shares of the business services provider’s stock valued at $739,051,000 after purchasing an additional 594,474 shares in the last quarter. 87.27% of the stock is owned by hedge funds and other institutional investors.

S&P Global Price Performance

NYSE:SPGI opened at $360.29 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50 day moving average price of $344.45 and a 200-day moving average price of $346.97. S&P Global Inc. has a 1-year low of $279.32 and a 1-year high of $395.80. The firm has a market cap of $116.01 billion, a price-to-earnings ratio of 42.39, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12.

S&P Global (NYSE:SPGI – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The business services provider reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.23. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.06 billion. S&P Global had a net margin of 23.50% and a return on equity of 10.06%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.89 earnings per share. Equities research analysts forecast that S&P Global Inc. will post 12.5 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Friday, May 26th will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, May 25th. This represents a $3.60 annualized dividend and a dividend yield of 1.00%. S&P Global’s dividend payout ratio is presently 42.35%.

Insider Activity at S&P Global

In other S&P Global news, CEO Douglas L. Peterson sold 7,500 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $360.52, for a total value of $2,703,900.00. Following the sale, the chief executive officer now owns 160,816 shares of the company’s stock, valued at approximately $57,977,384.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ewout L. Steenbergen sold 5,700 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $355.03, for a total value of $2,023,671.00. Following the completion of the sale, the chief financial officer now owns 27,904 shares in the company, valued at $9,906,757.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas L. Peterson sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $360.52, for a total value of $2,703,900.00. Following the completion of the transaction, the chief executive officer now directly owns 160,816 shares of the company’s stock, valued at $57,977,384.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,269 shares of company stock worth $6,587,360. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SPGI. Wells Fargo & Company assumed coverage on shares of S&P Global in a research report on Tuesday. They issued an “overweight” rating and a $415.00 target price for the company. Oppenheimer increased their price objective on shares of S&P Global from $403.00 to $405.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 4th. Robert W. Baird boosted their target price on shares of S&P Global from $393.00 to $401.00 and gave the company an “outperform” rating in a research report on Friday, February 10th. Morgan Stanley increased their price target on shares of S&P Global from $388.00 to $403.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Finally, StockNews.com assumed coverage on S&P Global in a research report on Thursday, March 16th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and an average price target of $395.71.

S&P Global Profile

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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. The Market Intelligence segment provides multi-asset-class data and analytics integrated with purpose-built workflow solutions.