Amalgamated Bank Sells 2,676 Shares of S&P Global Inc. (NYSE:SPGI)

Amalgamated Bank reduced its holdings in S&P Global Inc. (NYSE:SPGI) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,337 shares of the business services provider’s stock after selling 2,676 shares during the quarter. Amalgamated Bank’s holdings in S&P Global were worth $28,694,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SPGI. Gilbert & Cook Inc. increased its holdings in shares of S&P Global by 7.8% in the fourth quarter. Gilbert & Cook Inc. now owns 1,152 shares of the business services provider’s stock worth $507,000 after acquiring an additional 83 shares in the last quarter. Aveo Capital Partners LLC bought a new stake in shares of S&P Global in the fourth quarter worth about $215,000. 9258 Wealth Management LLC increased its holdings in shares of S&P Global by 30.4% in the fourth quarter. 9258 Wealth Management LLC now owns 1,758 shares of the business services provider’s stock worth $774,000 after acquiring an additional 410 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of S&P Global by 75.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,354 shares of the business services provider’s stock worth $1,018,000 after buying an additional 1,014 shares during the period. Finally, Gladstone Institutional Advisory LLC boosted its position in shares of S&P Global by 13.2% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 936 shares of the business services provider’s stock worth $412,000 after buying an additional 109 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SPGI has been the subject of several recent research reports. Bank of America upped their price objective on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Oppenheimer increased their price target on S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays increased their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Wells Fargo & Company raised S&P Global to a “strong-buy” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $548.18.

Insiders Place Their Bets

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock worth $8,645,727 in the last 90 days. Company insiders own 0.10% of the company’s stock.

S&P Global Price Performance

Shares of NYSE SPGI opened at $522.41 on Wednesday. The firm has a market cap of $163.46 billion, a P/E ratio of 58.57, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $528.02. The business’s 50 day moving average is $496.16 and its 200-day moving average is $453.28.

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

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.91 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a yield of 0.70%. S&P Global’s dividend payout ratio (DPR) is presently 40.81%.

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.