Glenmede Trust Co. NA Grows Stake in S&P Global Inc (SPGI)

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Glenmede Trust Co. NA increased its stake in shares of S&P Global Inc (NYSE:SPGI) by 1,004.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 177,092 shares of the business services provider’s stock after purchasing an additional 161,052 shares during the quarter. Glenmede Trust Co. NA owned 0.07% of S&P Global worth $36,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of America Corp DE lifted its holdings in shares of S&P Global by 1.2% in the 2nd quarter. Bank of America Corp DE now owns 1,194,906 shares of the business services provider’s stock worth $243,630,000 after buying an additional 13,859 shares during the period. Davy Asset Management Ltd purchased a new stake in shares of S&P Global in the 2nd quarter worth $1,576,000. Marshall Wace LLP lifted its holdings in shares of S&P Global by 3,985.1% in the 2nd quarter. Marshall Wace LLP now owns 389,800 shares of the business services provider’s stock worth $79,476,000 after buying an additional 380,258 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of S&P Global in the 2nd quarter worth $1,008,000. Finally, Dock Street Asset Management Inc. lifted its holdings in shares of S&P Global by 0.6% in the 2nd quarter. Dock Street Asset Management Inc. now owns 58,996 shares of the business services provider’s stock worth $12,029,000 after buying an additional 345 shares during the period. Institutional investors own 83.51% of the company’s stock.

Several equities research analysts have weighed in on SPGI shares. Morgan Stanley upped their target price on S&P Global from $214.00 to $217.00 and gave the stock a “$214.26” rating in a report on Wednesday, July 18th. Zacks Investment Research upgraded S&P Global from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Stifel Nicolaus upped their price objective on S&P Global from $186.00 to $214.00 and gave the stock a “hold” rating in a research note on Friday, July 27th. ValuEngine cut S&P Global from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, UBS Group decreased their price objective on S&P Global from $242.00 to $241.00 and set a “buy” rating for the company in a research note on Friday, September 21st. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. S&P Global presently has an average rating of “Hold” and a consensus target price of $205.86.

Shares of SPGI stock traded up $6.44 during mid-day trading on Friday, reaching $186.47. The stock had a trading volume of 2,252,386 shares, compared to its average volume of 1,214,512. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $49.14 billion, a PE ratio of 27.06, a P/E/G ratio of 1.83 and a beta of 1.20. S&P Global Inc has a 1-year low of $153.25 and a 1-year high of $217.31.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, July 26th. The business services provider reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. S&P Global had a return on equity of 333.87% and a net margin of 25.95%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.72 earnings per share. Sell-side analysts forecast that S&P Global Inc will post 8.52 earnings per share for the current year.

In related news, SVP Nancy Luquette sold 350 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $203.35, for a total transaction of $71,172.50. Following the sale, the senior vice president now directly owns 531 shares of the company’s stock, valued at $107,978.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas L. Peterson sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $201.27, for a total value of $805,080.00. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

About S&P Global

S&P Global Inc provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through three segments: Ratings, Market and Commodities Intelligence, and S&P Dow Jones Indices. The Ratings segment provides credit ratings, research, and analytics to investors, issuers, and other market participants.

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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