Advisors Asset Management Inc. Takes Position in S&P Global Inc. (SPGI)
Advisors Asset Management Inc. acquired a new position in S&P Global Inc. (NYSE:SPGI) during the second quarter, according to its most recent filing with the SEC. The firm acquired 11,248 shares of the company’s stock, valued at approximately $1,206,000.
Other institutional investors have also added to or reduced their stakes in the company. Jacobus Wealth Management Inc. bought a new stake in shares of S&P Global during the second quarter worth about $107,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of S&P Global during the second quarter worth approximately $113,000. West Oak Capital LLC acquired a new position in shares of S&P Global during the second quarter worth approximately $139,000. Quadrant Capital Group LLC acquired a new position in shares of S&P Global during the second quarter worth approximately $146,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of S&P Global during the second quarter worth approximately $147,000. 84.91% of the stock is owned by hedge funds and other institutional investors.
Shares of S&P Global Inc. (NYSE:SPGI) traded up 1.11% during midday trading on Monday, reaching $124.64. The company had a trading volume of 850,200 shares. The stock has a market capitalization of $32.90 billion, a PE ratio of 28.59 and a beta of 1.22. S&P Global Inc. has a 12-month low of $78.55 and a 12-month high of $126.52. The stock’s 50 day moving average is $121.47 and its 200-day moving average is $108.63.
S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.10. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. S&P Global had a return on equity of 320.10% and a net margin of 21.32%. S&P Global’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. On average, equities research analysts predict that S&P Global Inc. will post $5.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 26th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. S&P Global’s dividend payout ratio (DPR) is presently 32.95%.
Several research firms recently issued reports on SPGI. Cantor Fitzgerald reiterated a “buy” rating on shares of S&P Global in a report on Friday, August 19th. Barclays PLC increased their target price on S&P Global from $115.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Zacks Investment Research raised S&P Global from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a research note on Tuesday, September 13th. Morgan Stanley reissued an “equal weight” rating and issued a $120.00 target price on shares of S&P Global in a research note on Tuesday, July 19th. Finally, Argus raised their price target on S&P Global from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. S&P Global currently has an average rating of “Buy” and an average price target of $130.57.
In related news, SVP Nancy Luquette sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $123.08, for a total transaction of $61,540.00. Following the transaction, the senior vice president now directly owns 133 shares of the company’s stock, valued at approximately $16,369.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Finbarr J. Oneill sold 36,674 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $120.97, for a total value of $4,436,453.78. Following the transaction, the insider now directly owns 50,772 shares in the company, valued at $6,141,888.84. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
S&P Global Company Profile
S&P Global Inc, formerly McGraw Hill Financial, Inc, is a provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets across the world. The Company’s products cater to the capital markets, which includes asset managers, investment banks, commercial banks, exchanges and issuers; the commodities markets, which includes producers, traders and intermediaries within energy, metals, petrochemicals and agriculture, and the commercial markets, which includes professionals and corporate executives within automotive and marketing/research information services.
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