First Mercantile Trust Co. trimmed its holdings in S&P Global Inc (NYSE:SPGI) by 19.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 826 shares of the business services provider’s stock after selling 201 shares during the quarter. First Mercantile Trust Co.’s holdings in S&P Global were worth $202,000 as of its most recent SEC filing.
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A number of other hedge funds have also bought and sold shares of SPGI. Nuveen Asset Management LLC boosted its stake in S&P Global by 43,397.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,953,477 shares of the business services provider’s stock worth $672,772,000 after purchasing an additional 2,946,687 shares during the period. Rothschild & Co Wealth Management UK Ltd bought a new position in S&P Global in the 2nd quarter worth approximately $364,516,000. Packer & Co Ltd boosted its stake in S&P Global by 302.8% in the 2nd quarter. Packer & Co Ltd now owns 801,578 shares of the business services provider’s stock worth $38,497,000 after purchasing an additional 602,578 shares during the period. Investec Asset Management LTD boosted its stake in S&P Global by 42.6% in the 2nd quarter. Investec Asset Management LTD now owns 1,148,916 shares of the business services provider’s stock worth $261,712,000 after purchasing an additional 343,143 shares during the period. Finally, BlackRock Inc. boosted its stake in S&P Global by 2.1% in the 2nd quarter. BlackRock Inc. now owns 16,706,719 shares of the business services provider’s stock worth $3,805,622,000 after purchasing an additional 339,310 shares during the period. Institutional investors and hedge funds own 82.69% of the company’s stock.
In related news, CEO Douglas L. Peterson sold 6,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $254.83, for a total transaction of $1,528,980.00. Following the sale, the chief executive officer now owns 163,731 shares in the company, valued at approximately $41,723,570.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Nicholas Cafferillo sold 3,219 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $257.90, for a total value of $830,180.10. Following the sale, the chief technology officer now owns 2,707 shares in the company, valued at approximately $698,135.30. The disclosure for this sale can be found here. Insiders have sold a total of 11,986 shares of company stock worth $3,063,427 in the last 90 days. 0.20% of the stock is currently owned by insiders.
Several research analysts have weighed in on SPGI shares. Stifel Nicolaus upped their price target on S&P Global from $231.00 to $274.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Edward Jones assumed coverage on S&P Global in a report on Wednesday, September 11th. They set a “buy” rating on the stock. Raymond James upped their price objective on S&P Global from $246.00 to $272.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. UBS Group upped their price objective on S&P Global from $301.00 to $314.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Atlantic Securities cut S&P Global from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $220.00 to $260.00 in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $264.42.
Shares of SPGI opened at $255.30 on Friday. The stock has a market capitalization of $61.39 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07. S&P Global Inc has a 1 year low of $156.68 and a 1 year high of $269.57. The business’s 50 day simple moving average is $250.42 and its 200-day simple moving average is $239.49. The company has a debt-to-equity ratio of 8.91, a current ratio of 1.10 and a quick ratio of 1.10.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $2.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.12. S&P Global had a return on equity of 448.14% and a net margin of 32.22%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $2.11 EPS. S&P Global’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts expect that S&P Global Inc will post 9.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.28 annualized dividend and a yield of 0.89%. S&P Global’s payout ratio is presently 26.82%.
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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