Private Trust Co. NA Cuts Position in S&P Global Inc. (NYSE:SPGI)
Private Trust Co. NA lowered its position in S&P Global Inc. (NYSE:SPGI) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,206 shares of the business services provider’s stock after selling 101 shares during the period. Private Trust Co. NA’s holdings in S&P Global were worth $614,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in shares of S&P Global during the first quarter worth approximately $101,000. American Beacon Advisors Inc. purchased a new position in shares of S&P Global during the first quarter worth approximately $103,000. State of Alaska Department of Revenue purchased a new position in shares of S&P Global during the first quarter worth approximately $125,000. Guardian Life Insurance Co. of America increased its position in shares of S&P Global by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 999 shares of the business services provider’s stock worth $131,000 after buying an additional 10 shares during the period. Finally, Parallel Advisors LLC increased its stake in S&P Global by 5.4% in the first quarter. Parallel Advisors LLC now owns 971 shares of the business services provider’s stock valued at $131,000 after buying an additional 50 shares during the period. 85.94% of the stock is currently owned by hedge funds and other institutional investors.
S&P Global Inc. (NYSE SPGI) opened at 151.03 on Monday. S&P Global Inc. has a one year low of $107.21 and a one year high of $158.35. The stock has a 50 day moving average price of $149.31 and a 200-day moving average price of $135.87. The firm has a market capitalization of $38.81 billion, a PE ratio of 17.60 and a beta of 1.52.
S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.46 billion. S&P Global had a net margin of 38.78% and a return on equity of 202.37%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 earnings per share. On average, equities analysts forecast that S&P Global Inc. will post $6.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $1.64 annualized dividend and a dividend yield of 1.09%. S&P Global’s dividend payout ratio is currently 19.16%.
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Several research firms have recently issued reports on SPGI. BMO Capital Markets upped their price target on S&P Global from $161.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. UBS AG boosted their price objective on S&P Global from $154.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Morgan Stanley reissued an “equal weight” rating and set a $146.00 price objective (up previously from $145.00) on shares of S&P Global in a research report on Friday, July 14th. Zacks Investment Research raised S&P Global from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research report on Monday, July 17th. Finally, Barclays PLC boosted their price objective on S&P Global from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. S&P Global presently has an average rating of “Buy” and a consensus price target of $153.82.
In related news, Director Marco Alvera acquired 400 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average price of $140.09 per share, for a total transaction of $56,036.00. Following the completion of the acquisition, the director now owns 400 shares of the company’s stock, valued at $56,036. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
S&P Global Company Profile
S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
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