Burney Co. Acquires 56 Shares of S&P Global Inc. (NYSE:SPGI)

Burney Co. grew its stake in S&P Global Inc. (NYSE:SPGI) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,365 shares of the business services provider’s stock after buying an additional 56 shares during the quarter. Burney Co.’s holdings in S&P Global were worth $609,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Capital International Investors raised its stake in shares of S&P Global by 5.3% in the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after purchasing an additional 291,712 shares during the period. Norges Bank acquired a new position in S&P Global during the 4th quarter worth approximately $1,652,862,000. Capital World Investors grew its stake in shares of S&P Global by 0.5% during the 4th quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock worth $1,241,706,000 after acquiring an additional 12,644 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of S&P Global by 11.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,624,308 shares of the business services provider’s stock valued at $1,156,060,000 after purchasing an additional 279,633 shares during the last quarter. Finally, Parnassus Investments LLC lifted its position in shares of S&P Global by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 2,467,429 shares of the business services provider’s stock worth $1,086,952,000 after purchasing an additional 7,887 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of S&P Global to a “strong-buy” rating in a research report on Tuesday, August 13th. Stifel Nicolaus increased their price target on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their price target on S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Bank of America boosted their target price on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $530.75.

S&P Global Stock Performance

SPGI stock traded up $2.51 during trading hours on Thursday, hitting $507.78. 677,824 shares of the stock were exchanged, compared to its average volume of 1,235,419. The company has a 50-day simple moving average of $475.84 and a two-hundred day simple moving average of $444.02. The firm has a market capitalization of $158.88 billion, a P/E ratio of 57.31, a P/E/G ratio of 2.55 and a beta of 1.16. S&P Global Inc. has a 12 month low of $340.49 and a 12 month high of $511.88. The company has a current ratio of 1.03, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the company earned $3.12 EPS. The business’s revenue was up 14.4% on a year-over-year basis. On average, analysts forecast that S&P Global Inc. will post 14.58 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 annualized dividend and a yield of 0.72%. S&P Global’s dividend payout ratio is presently 40.81%.

Insider Activity

In related news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The disclosure for this sale can be found here. In the last three months, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by company insiders.

S&P Global Profile

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 through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.