Assenagon Asset Management S.A. Sells 53,141 Shares of S&P Global Inc. (NYSE:SPGI)

Assenagon Asset Management S.A. reduced its position in S&P Global Inc. (NYSE:SPGI) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 410,242 shares of the business services provider’s stock after selling 53,141 shares during the quarter. Assenagon Asset Management S.A.’s holdings in S&P Global were worth $211,939,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SPGI. Grimes & Company Inc. lifted its position in shares of S&P Global by 12.0% during the 3rd quarter. Grimes & Company Inc. now owns 562 shares of the business services provider’s stock worth $290,000 after buying an additional 60 shares during the period. Beese Fulmer Investment Management Inc. acquired a new position in S&P Global during the third quarter worth $218,000. Global Assets Advisory LLC bought a new position in shares of S&P Global during the third quarter valued at $361,000. International Assets Investment Management LLC boosted its stake in shares of S&P Global by 174,815.4% in the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after purchasing an additional 466,757 shares in the last quarter. Finally, Lake Street Private Wealth LLC bought a new stake in shares of S&P Global in the 3rd quarter worth about $208,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Transactions at S&P Global

In related news, Director Robert P. Kelly sold 7,662 shares of the company’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 sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the transaction, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at $74,915,443.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction 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 sale, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock worth $8,645,727 in the last three months. Insiders own 0.10% of the company’s stock.

S&P Global Trading Down 2.5 %

NYSE:SPGI traded down $12.60 on Thursday, hitting $498.32. 748,560 shares of the stock were exchanged, compared to its average volume of 1,194,734. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $533.29. The stock has a market capitalization of $155.92 billion, a price-to-earnings ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.18. The company’s 50-day moving average price is $513.82 and its 200 day moving average price is $470.01.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.42 billion. During the same period in the previous year, the firm posted $3.12 earnings per share. S&P Global’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts forecast that S&P Global Inc. will post 14.61 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is currently 40.81%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Barclays boosted their target price on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Bank of America raised their price target on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI started coverage on S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $565.17.

About S&P Global

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.