Coastline Trust Co Takes $284,000 Position in S&P Global Inc (SPGI)

Coastline Trust Co bought a new stake in S&P Global Inc (NYSE:SPGI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,455 shares of the business services provider’s stock, valued at approximately $284,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its position in shares of S&P Global by 6.4% in the 2nd quarter. FMR LLC now owns 10,698,339 shares of the business services provider’s stock valued at $2,181,285,000 after acquiring an additional 642,229 shares during the period. Renaissance Technologies LLC grew its position in shares of S&P Global by 29.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,677,100 shares of the business services provider’s stock valued at $341,944,000 after acquiring an additional 382,000 shares during the period. Marshall Wace LLP grew its position 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 valued at $79,476,000 after acquiring an additional 380,258 shares during the period. Fred Alger Management Inc. grew its position in shares of S&P Global by 35.7% in the 2nd quarter. Fred Alger Management Inc. now owns 1,378,339 shares of the business services provider’s stock valued at $281,030,000 after acquiring an additional 362,556 shares during the period. Finally, Bank of Montreal Can grew its position in shares of S&P Global by 21.4% in the 3rd quarter. Bank of Montreal Can now owns 1,551,747 shares of the business services provider’s stock valued at $303,197,000 after acquiring an additional 273,446 shares during the period. 83.49% of the stock is owned by institutional investors and hedge funds.

In other S&P Global news, SVP Nancy Luquette sold 350 shares of S&P Global stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $203.35, for a total value of $71,172.50. Following the completion of the sale, the senior vice president now owns 531 shares in the company, valued at approximately $107,978.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas L. Peterson sold 4,000 shares of S&P Global stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $201.27, for a total transaction of $805,080.00. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

NYSE SPGI opened at $188.34 on Friday. S&P Global Inc has a 52-week low of $153.25 and a 52-week high of $217.31. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 5.75. The stock has a market cap of $47.94 billion, a PE ratio of 27.34, a P/E/G ratio of 1.57 and a beta of 1.19.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, July 26th. The business services provider reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.04. S&P Global had a net margin of 25.95% and a return on equity of 333.87%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned $1.72 EPS. The business’s revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts expect that S&P Global Inc will post 8.48 earnings per share for the current year.

A number of research firms have recently issued reports on SPGI. Morgan Stanley raised their target price on shares of S&P Global from $217.00 to $219.00 and gave the stock an “equal weight” rating in a research note on Friday, July 27th. Zacks Investment Research cut shares of S&P Global from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. BMO Capital Markets raised their target price on shares of S&P Global from $209.00 to $214.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. Atlantic Securities cut shares of S&P Global from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 1st. Finally, Raymond James raised their target price on shares of S&P Global from $206.00 to $218.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $208.15.

S&P Global Company Profile

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.

Recommended Story: How does inflation affect different investments?

Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc (NYSE:SPGI).

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

Receive News & Ratings for S&P Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&P Global and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply