Panagora Asset Management Inc. trimmed its position in S&P Global Inc (NYSE:SPGI) by 93.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,514 shares of the business services provider’s stock after selling 94,142 shares during the period. Panagora Asset Management Inc.’s holdings in S&P Global were worth $1,484,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Meridian Wealth Management LLC acquired a new position in shares of S&P Global during the first quarter worth approximately $26,000. Coastal Investment Advisors Inc. increased its stake in S&P Global by 409.1% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 90 shares in the last quarter. Coastal Capital Group Inc. acquired a new position in S&P Global during the second quarter worth $27,000. Harvest Group Wealth Management LLC acquired a new position in S&P Global during the first quarter worth $28,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of S&P Global by 610.5% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 135 shares of the business services provider’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the stock. Argus lifted their price objective on shares of S&P Global to $290.00 and gave the company a “buy” rating in a report on Monday, August 5th. UBS Group upped their target price on shares of S&P Global from $252.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. BMO Capital Markets raised their price target on shares of S&P Global to $255.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Morgan Stanley lifted their price target on S&P Global from $254.00 to $262.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Raymond James lifted their price target on S&P Global from $246.00 to $272.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $252.23.
Shares of SPGI stock traded down $2.29 on Wednesday, hitting $250.06. The stock had a trading volume of 32,207 shares, compared to its average volume of 1,198,253. The business has a 50 day moving average of $255.05 and a 200 day moving average of $226.80. The stock has a market cap of $64.23 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a debt-to-equity ratio of 7.52, a current ratio of 1.37 and a quick ratio of 1.37. S&P Global Inc has a 12-month low of $156.68 and a 12-month high of $269.57.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.43 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.65 billion. During the same period in the previous year, the company earned $2.17 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts expect that S&P Global Inc will post 9.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.28 annualized dividend and a dividend yield of 0.91%. S&P Global’s dividend payout ratio is currently 26.82%.
In related news, CEO Alexander Matturri, Jr. sold 1,007 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $230.44, for a total transaction of $232,053.08. Following the completion of the transaction, the chief executive officer now owns 18,723 shares in the company, valued at $4,314,528.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Douglas L. Peterson sold 6,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $254.83, for a total transaction of $1,528,980.00. Following the transaction, the chief executive officer now owns 163,731 shares of the company’s stock, valued at approximately $41,723,570.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,425 shares of company stock worth $5,898,602. Insiders own 0.20% of the company’s stock.
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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