Twin Capital Management Inc. raised its position in shares of S&P Global Inc (NYSE:SPGI) by 760.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,485 shares of the business services provider’s stock after buying an additional 26,060 shares during the period. Twin Capital Management Inc.’s holdings in S&P Global were worth $6,716,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coastal Investment Advisors Inc. boosted its stake in S&P Global by 409.1% in the second quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 90 shares during the last quarter. Coastal Capital Group Inc. bought a new position in S&P Global in the second quarter valued at approximately $27,000. Meridian Wealth Management LLC bought a new position in S&P Global in the first quarter valued at approximately $26,000. Harvest Group Wealth Management LLC bought a new position in S&P Global in the first quarter valued at approximately $28,000. Finally, Berman Capital Advisors LLC boosted its stake in S&P Global by 59.6% in the first quarter. Berman Capital Advisors LLC now owns 166 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 62 shares during the last quarter. 82.43% of the stock is owned by institutional investors.
Shares of NYSE:SPGI traded up $3.64 during midday trading on Thursday, reaching $252.25. 16,661 shares of the company were exchanged, compared to its average volume of 1,270,205. S&P Global Inc has a fifty-two week low of $156.68 and a fifty-two week high of $262.83. The company has a debt-to-equity ratio of 7.52, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s fifty day moving average price is $242.21. The firm has a market cap of $62.60 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 2.76 and a beta of 1.08.
S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.15. S&P Global had a net margin of 31.02% and a return on equity of 341.54%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $2.17 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, analysts expect that S&P Global Inc will post 9.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be paid a $0.57 dividend. The ex-dividend date is Monday, August 26th. This represents a $2.28 annualized dividend and a yield of 0.90%. S&P Global’s payout ratio is currently 26.82%.
In other S&P Global news, CEO Alexander Matturri, Jr. sold 1,007 shares of S&P Global stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $230.44, for a total value of $232,053.08. Following the sale, the chief executive officer now directly owns 18,723 shares in the company, valued at approximately $4,314,528.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven J. Kemps sold 5,500 shares of S&P Global stock in a transaction on Monday, August 5th. The shares were sold at an average price of $249.88, for a total transaction of $1,374,340.00. Following the completion of the sale, the executive vice president now owns 7,540 shares in the company, valued at $1,884,095.20. The disclosure for this sale can be found here. Insiders sold a total of 16,418 shares of company stock worth $4,113,381 over the last quarter. Company insiders own 0.20% of the company’s stock.
A number of brokerages have issued reports on SPGI. Argus raised their price objective on shares of S&P Global to $290.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Raymond James lifted their price target on shares of S&P Global from $246.00 to $272.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Cantor Fitzgerald lifted their price target on shares of S&P Global from $244.00 to $294.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. BMO Capital Markets raised their price objective on shares of S&P Global to $255.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of S&P Global in a report on Wednesday, July 10th. They set an “overweight” rating and a $260.00 price objective on the stock. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. S&P Global currently has a consensus rating of “Buy” and a consensus target price of $252.23.
S&P Global 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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