Beese Fulmer Investment Management Inc. Invests $218,000 in S&P Global Inc. (NYSE:SPGI)

Beese Fulmer Investment Management Inc. acquired a new stake in shares of S&P Global Inc. (NYSE:SPGI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 422 shares of the business services provider’s stock, valued at approximately $218,000.

Several other hedge funds also recently bought and sold shares of SPGI. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of S&P Global by 107.2% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after acquiring an additional 2,962 shares in the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new stake in shares of S&P Global in the 1st quarter worth $1,222,000. Quadrature Capital Ltd bought a new position in shares of S&P Global during the 1st quarter worth $2,236,000. New Mexico Educational Retirement Board increased its stake in shares of S&P Global by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 20,586 shares of the business services provider’s stock valued at $8,444,000 after buying an additional 3,500 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of S&P Global by 21.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 34,683 shares of the business services provider’s stock valued at $14,756,000 after buying an additional 6,162 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

SPGI has been the topic of several recent research reports. Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Evercore ISI assumed coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price target for the company. Barclays lifted their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. UBS Group upped their target price on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $565.17.

S&P Global Price Performance

Shares of NYSE SPGI opened at $493.10 on Friday. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $533.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $154.29 billion, a PE ratio of 55.28, a P/E/G ratio of 2.91 and a beta of 1.18. The business has a 50-day simple moving average of $513.82 and a two-hundred day simple moving average of $470.01.

S&P Global (NYSE:SPGI) last released its earnings results 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 net margin of 25.03% and a return on equity of 13.03%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the business earned $3.12 EPS. S&P Global’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities analysts expect that S&P Global Inc. will post 14.61 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is 40.81%.

Insider Buying and Selling

In other news, Director Robert P. Kelly sold 7,662 shares of the 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 transaction, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Douglas L. Peterson sold 7,000 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 154,912 shares in the company, valued at $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the 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 sale, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock worth $8,645,727 in the last 90 days. Insiders own 0.10% of the company’s stock.

S&P Global Company 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.