Vanguard Group Inc. lowered its holdings in S&P Global Inc (NYSE:SPGI) by 4.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,753,334 shares of the business services provider’s stock after selling 978,713 shares during the quarter. Vanguard Group Inc. owned 8.61% of S&P Global worth $6,837,809,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of SPGI. FMR LLC raised its position in shares of S&P Global by 7.1% during the second quarter. FMR LLC now owns 4,796,130 shares of the business services provider’s stock valued at $1,580,229,000 after buying an additional 318,237 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of S&P Global by 0.5% during the 1st quarter. Nuveen Asset Management LLC now owns 3,636,820 shares of the business services provider’s stock valued at $891,203,000 after acquiring an additional 18,590 shares in the last quarter. Jennison Associates LLC increased its stake in S&P Global by 16.7% in the second quarter. Jennison Associates LLC now owns 3,527,754 shares of the business services provider’s stock valued at $1,162,324,000 after acquiring an additional 504,741 shares during the period. Capital World Investors increased its stake in S&P Global by 88.9% in the first quarter. Capital World Investors now owns 3,372,454 shares of the business services provider’s stock valued at $826,420,000 after acquiring an additional 1,587,513 shares during the period. Finally, Capital International Investors raised its position in S&P Global by 52.2% in the first quarter. Capital International Investors now owns 3,264,366 shares of the business services provider’s stock worth $799,933,000 after purchasing an additional 1,119,603 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.
NYSE:SPGI traded down $8.51 during trading hours on Friday, hitting $345.18. 1,273,280 shares of the stock were exchanged, compared to its average volume of 696,037. The company has a market capitalization of $83.19 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 14.74. The company’s 50 day moving average is $355.26 and its two-hundred day moving average is $308.12. S&P Global Inc has a twelve month low of $186.05 and a twelve month high of $379.87.
S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 28th. The business services provider reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.64. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.78 billion. S&P Global had a return on equity of 1,072.73% and a net margin of 36.19%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.43 earnings per share. On average, equities research analysts expect that S&P Global Inc will post 10.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, August 25th. S&P Global’s dividend payout ratio (DPR) is presently 28.12%.
Several equities research analysts have recently weighed in on the company. Barclays increased their target price on S&P Global from $260.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. BMO Capital Markets increased their price objective on S&P Global from $375.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of S&P Global from $339.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Oppenheimer initiated coverage on shares of S&P Global in a research report on Tuesday, July 28th. They set a “buy” rating and a $396.00 target price for the company. Finally, Goldman Sachs Group upgraded shares of S&P Global from a “buy” rating to a “conviction-buy” rating and boosted their price target for the company from $336.00 to $397.00 in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $353.54.
In related news, CFO Ewout L. Steenbergen sold 8,800 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $350.59, for a total value of $3,085,192.00. Following the completion of the sale, the chief financial officer now owns 18,291 shares in the company, valued at $6,412,641.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Courtney Geduldig sold 932 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $355.00, for a total value of $330,860.00. Following the completion of the transaction, the executive vice president now directly owns 10,040 shares in the company, valued at approximately $3,564,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,710 shares of company stock valued at $15,363,454. 0.20% of the stock is owned by corporate insiders.
S&P Global Company Profile
S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).
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