S&P Global Inc. (SPGI) Shares Sold by Iridian Asset Management LLC CT
Iridian Asset Management LLC CT lessened its position in S&P Global Inc. (NYSE:SPGI) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,206,774 shares of the business services provider’s stock after selling 143,301 shares during the quarter. S&P Global accounts for approximately 2.9% of Iridian Asset Management LLC CT’s portfolio, making the stock its 8th largest holding. Iridian Asset Management LLC CT owned about 0.87% of S&P Global worth $344,941,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in shares of S&P Global during the second quarter valued at about $106,000. Parallel Advisors LLC grew its stake in shares of S&P Global by 8.9% during the second quarter. Parallel Advisors LLC now owns 1,057 shares of the business services provider’s stock valued at $162,000 after buying an additional 86 shares during the last quarter. GQG Partners LLC bought a new position in shares of S&P Global during the second quarter valued at about $160,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of S&P Global during the second quarter valued at about $185,000. Finally, Savant Capital LLC bought a new position in shares of S&P Global during the third quarter valued at about $209,000. 86.33% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on SPGI shares. UBS AG increased their target price on shares of S&P Global from $154.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 28th. BMO Capital Markets increased their target price on shares of S&P Global from $161.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of S&P Global from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Barclays PLC increased their target price on shares of S&P Global from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, September 15th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $164.75.
S&P Global (NYSE:SPGI) last released its earnings results on Thursday, October 26th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.19. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.45 billion. S&P Global had a net margin of 30.15% and a return on equity of 187.30%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $1.43 earnings per share. analysts forecast that S&P Global Inc. will post 6.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Monday, November 27th. S&P Global’s dividend payout ratio (DPR) is presently 24.08%.
In other S&P Global news, CEO Douglas L. Peterson sold 4,000 shares of S&P Global stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $157.79, for a total value of $631,160.00. Following the completion of the sale, the chief executive officer now owns 140,743 shares of the company’s stock, valued at approximately $22,207,837.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Courtney Geduldig sold 1,404 shares of S&P Global stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $159.38, for a total transaction of $223,769.52. Following the completion of the sale, the executive vice president now directly owns 1,259 shares of the company’s stock, valued at approximately $200,659.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,860 shares of company stock valued at $1,234,994. 0.20% of the stock is currently owned by 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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