Handelsbanken Fonder AB acquired a new stake in shares of S&P Global Inc (NYSE:SPGI) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 57,570 shares of the business services provider’s stock, valued at approximately $18,968,000.
Several other institutional investors also recently added to or reduced their stakes in SPGI. Capital World Investors grew its stake in S&P Global by 88.9% during 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 in the last quarter. Capital International Investors grew its position in shares of S&P Global by 52.2% during the first quarter. Capital International Investors now owns 3,264,366 shares of the business services provider’s stock valued at $799,933,000 after purchasing an additional 1,119,603 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of S&P Global by 68.6% in the first quarter. Capital Research Global Investors now owns 2,357,536 shares of the business services provider’s stock worth $577,715,000 after purchasing an additional 959,492 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of S&P Global by 161.8% in the second quarter. Nordea Investment Management AB now owns 1,098,640 shares of the business services provider’s stock worth $355,454,000 after buying an additional 678,929 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in S&P Global by 763.1% during the first quarter. Mackenzie Financial Corp now owns 629,652 shares of the business services provider’s stock valued at $154,296,000 after buying an additional 556,703 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.
In other S&P Global news, EVP Courtney Geduldig sold 932 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $355.00, for a total transaction of $330,860.00. Following the sale, the executive vice president now owns 10,040 shares of the company’s stock, valued at approximately $3,564,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina Cheung sold 1,398 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $353.42, for a total value of $494,081.16. Following the sale, the insider now directly owns 8,506 shares in the company, valued at approximately $3,006,190.52. The disclosure for this sale can be found here. Insiders have sold a total of 43,710 shares of company stock worth $15,363,454 in the last three months. Insiders own 0.20% of the company’s stock.
NYSE:SPGI traded down $0.43 during midday trading on Wednesday, hitting $356.77. The stock had a trading volume of 29,278 shares, compared to its average volume of 1,433,990. The stock has a 50-day moving average of $353.87 and a 200 day moving average of $310.72. The company has a market capitalization of $86.09 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 3.17 and a beta of 1.03. S&P Global Inc has a one year low of $186.05 and a one year high of $379.87. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 14.74.
S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, July 28th. The business services provider reported $3.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.64. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.78 billion. S&P Global had a return on equity of 1,072.73% and a net margin of 36.19%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.43 EPS. On average, sell-side analysts anticipate that S&P Global Inc will post 10.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, August 25th. S&P Global’s payout ratio is 28.12%.
Several analysts have recently issued reports on SPGI shares. Credit Suisse Group began coverage on S&P Global in a report on Friday, May 29th. They set an “outperform” rating and a $345.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of S&P Global from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. Barclays lifted their price objective on shares of S&P Global from $260.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Jefferies Financial Group upped 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 report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on S&P Global from $325.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. S&P Global has an average rating of “Buy” and a consensus target price of $353.54.
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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