Canada Pension Plan Investment Board Purchases 62,000 Shares of S&P Global Inc. (SPGI)
Canada Pension Plan Investment Board boosted its position in S&P Global Inc. (NYSE:SPGI) by 17.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 424,863 shares of the business services provider’s stock after acquiring an additional 62,000 shares during the period. Canada Pension Plan Investment Board owned 0.17% of S&P Global worth $66,410,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in S&P Global by 11.3% in the second quarter. BlackRock Inc. now owns 17,197,188 shares of the business services provider’s stock valued at $2,510,617,000 after buying an additional 1,744,482 shares during the period. Janus Henderson Group PLC lifted its stake in S&P Global by 4,882.5% in the second quarter. Janus Henderson Group PLC now owns 1,745,016 shares of the business services provider’s stock valued at $254,755,000 after buying an additional 1,709,993 shares during the period. AJO LP acquired a new position in S&P Global in the second quarter valued at about $130,724,000. Alliancebernstein L.P. lifted its stake in S&P Global by 61.6% in the second quarter. Alliancebernstein L.P. now owns 1,837,354 shares of the business services provider’s stock valued at $268,235,000 after buying an additional 700,194 shares during the period. Finally, Prudential Financial Inc. lifted its stake in S&P Global by 59.9% in the second quarter. Prudential Financial Inc. now owns 1,394,031 shares of the business services provider’s stock valued at $203,515,000 after buying an additional 522,340 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.
In related news, SVP Nancy Luquette sold 860 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $151.50, for a total transaction of $130,290.00. Following the completion of the transaction, the senior vice president now directly owns 106 shares in the company, valued at $16,059. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.
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SPGI has been the topic of several analyst reports. Zacks Investment Research lowered S&P Global from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and issued a $146.00 target price (up previously from $145.00) on shares of S&P Global in a research note on Friday, July 14th. BMO Capital Markets increased their target price on S&P Global from $152.00 to $161.00 and gave the company a “no rating at time” rating in a research note on Friday, July 14th. UBS Group AG (USA) increased their target price on S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Barclays PLC increased their target price on S&P Global from $160.00 to $170.00 and gave the company an “overweight” rating in a research note 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 company. The company currently has an average rating of “Buy” and an average target price of $164.75.
Shares of S&P Global Inc. (NYSE SPGI) opened at $158.69 on Friday. The stock has a market capitalization of $39,652.50, a P/E ratio of 24.57, a PEG ratio of 1.87 and a beta of 1.51. 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 released its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.19. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.45 billion. S&P Global had a return on equity of 187.30% and a net margin of 30.15%. S&P Global’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 earnings per share. equities research analysts predict that S&P Global Inc. will post 6.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.03%. S&P Global’s payout ratio is presently 24.08%.
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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