Wedge Capital Management L L P NC Lowers Stock Holdings in S&P Global Inc (NYSE:SPGI)
Wedge Capital Management L L P NC cut its holdings in S&P Global Inc (NYSE:SPGI) by 9.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 115,892 shares of the business services provider’s stock after selling 12,645 shares during the period. Wedge Capital Management L L P NC’s holdings in S&P Global were worth $31,644,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of SPGI. Nuveen Asset Management LLC increased its position in S&P Global by 43,397.5% during the second 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 last quarter. Rothschild & Co Wealth Management UK Ltd purchased a new stake in shares of S&P Global during the 2nd quarter valued at $364,516,000. BlackRock Inc. increased its holdings in shares of S&P Global by 2.1% during the 2nd quarter. BlackRock Inc. now owns 16,706,719 shares of the business services provider’s stock worth $3,805,622,000 after buying an additional 339,310 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in shares of S&P Global by 18,928.1% during the 3rd quarter. Congress Asset Management Co. MA now owns 217,872 shares of the business services provider’s stock worth $53,374,000 after buying an additional 216,727 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of S&P Global during the 2nd quarter worth $49,336,000. Institutional investors own 82.60% of the company’s stock.
In other S&P Global news, CTO Nicholas Cafferillo sold 3,219 shares of the stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 2,707 shares of the company’s stock, valued at $698,135.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alexander Matturri, Jr. sold 1,098 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $262.10, for a total transaction of $287,785.80. Following the transaction, the chief executive officer now directly owns 20,465 shares in the company, valued at $5,363,876.50. The disclosure for this sale can be found here. Insiders sold 6,077 shares of company stock valued at $1,565,992 in the last ninety days. Company insiders own 0.20% of the company’s stock.
S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $2.46 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned $2.11 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that S&P Global Inc will post 9.4 earnings per share for the current year.
SPGI has been the topic of a number of research analyst reports. Morgan Stanley upgraded S&P Global from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $271.00 to $323.00 in a report on Tuesday, January 7th. ValuEngine lowered S&P Global from a “hold” rating to a “sell” rating in a research note on Saturday, January 4th. BMO Capital Markets upped their price target on S&P Global to $266.00 in a research note on Wednesday, October 30th. William Blair restated an “outperform” rating on shares of S&P Global in a report on Wednesday, October 30th. Finally, Jefferies Financial Group assumed coverage on S&P Global in a research note on Thursday, November 21st. They issued a “buy” rating and a $298.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. S&P Global presently has an average rating of “Buy” and an average price target of $276.27.
About S&P Global
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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