S&P Global Inc. (SPGI) Holdings Boosted by Prudential Financial Inc.
Prudential Financial Inc. raised its position in S&P Global Inc. (NYSE:SPGI) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,441,961 shares of the business services provider’s stock after buying an additional 47,930 shares during the quarter. Prudential Financial Inc. owned about 0.56% of S&P Global worth $225,392,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. DnB Asset Management AS boosted its stake in shares of S&P Global by 23.8% in the 2nd quarter. DnB Asset Management AS now owns 104,628 shares of the business services provider’s stock valued at $15,275,000 after purchasing an additional 20,100 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of S&P Global by 22.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 57,722 shares of the business services provider’s stock valued at $8,427,000 after purchasing an additional 10,526 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of S&P Global in the 2nd quarter valued at approximately $832,000. Capital One National Association boosted its stake in shares of S&P Global by 6.7% in the 2nd quarter. Capital One National Association now owns 6,120 shares of the business services provider’s stock valued at $894,000 after purchasing an additional 382 shares in the last quarter. Finally, Atria Investments LLC boosted its stake in shares of S&P Global by 103.9% in the 2nd quarter. Atria Investments LLC now owns 3,591 shares of the business services provider’s stock valued at $524,000 after purchasing an additional 1,830 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of S&P Global Inc. (SPGI) traded down $0.05 during midday trading on Tuesday, hitting $158.64. 969,185 shares of the stock were exchanged, compared to its average volume of 1,140,000. The firm has a market cap of $40,660.00, a P/E ratio of 25.07, a P/E/G ratio of 1.91 and a beta of 1.51. S&P Global Inc. has a 1 year low of $107.21 and a 1 year high of $166.17. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 4.00.
S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.19. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.45 billion. S&P Global had a net margin of 30.15% and a return on equity of 187.30%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.43 EPS. sell-side analysts expect that S&P Global Inc. will post 6.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 28th will be paid a $0.41 dividend. The ex-dividend date is Monday, November 27th. This represents a $1.64 annualized dividend and a dividend yield of 1.03%. S&P Global’s dividend payout ratio is currently 24.08%.
In other news, EVP Courtney Geduldig sold 1,596 shares of S&P Global stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $156.50, for a total value of $249,774.00. Following the completion of the sale, the executive vice president now owns 2,663 shares in the company, valued at approximately $416,759.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nancy Luquette sold 860 shares of S&P Global stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $151.50, for a total transaction of $130,290.00. Following the completion of the sale, the senior vice president now owns 106 shares of the company’s stock, valued at approximately $16,059. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
A number of equities research analysts have recently weighed in on SPGI shares. BMO Capital Markets restated a “buy” rating and issued a $177.00 price target on shares of S&P Global in a research note on Friday, October 13th. Morgan Stanley lifted their target price on shares of S&P Global from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of S&P Global from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Barclays PLC lifted their target price on shares of S&P Global from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $176.00 target price on shares of S&P Global in a research report on Wednesday, October 18th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $164.75.
About S&P Global
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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