Cornerstone Wealth Management LLC Sells 151 Shares of S&P Global Inc. (NYSE:SPGI)

Cornerstone Wealth Management LLC reduced its stake in shares of S&P Global Inc. (NYSE:SPGI) by 16.7% in the first quarter, HoldingsChannel reports. The firm owned 754 shares of the business services provider’s stock after selling 151 shares during the period. Cornerstone Wealth Management LLC’s holdings in S&P Global were worth $383,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC raised its stake in S&P Global by 19.1% in the fourth quarter. Wealthfront Advisers LLC now owns 37,746 shares of the business services provider’s stock valued at $18,799,000 after buying an additional 6,051 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in S&P Global during the 4th quarter worth approximately $14,040,000. Freestone Capital Holdings LLC grew its position in S&P Global by 0.4% during the 4th quarter. Freestone Capital Holdings LLC now owns 11,499 shares of the business services provider’s stock worth $5,727,000 after purchasing an additional 49 shares during the last quarter. Asahi Life Asset Management CO. LTD. increased its stake in S&P Global by 85.9% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 1,288 shares of the business services provider’s stock valued at $641,000 after purchasing an additional 595 shares in the last quarter. Finally, Coalescence Partners Investment Management LP raised its holdings in shares of S&P Global by 62.7% in the fourth quarter. Coalescence Partners Investment Management LP now owns 30,089 shares of the business services provider’s stock worth $14,985,000 after buying an additional 11,599 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Up 0.2%

Shares of SPGI stock opened at $503.85 on Friday. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $545.39. The stock has a market cap of $154.53 billion, a P/E ratio of 39.58, a P/E/G ratio of 2.45 and a beta of 1.20. The stock has a 50 day moving average of $501.16 and a 200 day moving average of $503.44. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.14. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the firm earned $4.01 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Wednesday, May 28th were paid a $0.96 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $3.84 annualized dividend and a dividend yield of 0.76%. S&P Global’s dividend payout ratio is presently 30.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SPGI shares. UBS Group lifted their price objective on shares of S&P Global from $555.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Bank of America assumed coverage on S&P Global in a research note on Thursday, April 10th. They issued a “buy” rating and a $600.00 target price for the company. Wells Fargo & Company lifted their price target on S&P Global from $607.00 to $627.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on S&P Global from $618.00 to $565.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Mizuho began coverage on S&P Global in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $592.71.

Insiders Place Their Bets

In other S&P Global news, EVP Sally Moore sold 500 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the sale, the executive vice president now directly owns 5,131 shares in the company, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by company insiders.

S&P Global Profile

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.