Crossmark Global Holdings Inc. Invests $4.35 Million in S&P Global Inc. (SPGI)
Crossmark Global Holdings Inc. bought a new position in shares of S&P Global Inc. (NYSE:SPGI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 27,813 shares of the business services provider’s stock, valued at approximately $4,347,000.
Several other hedge funds have also recently bought and sold shares of SPGI. Pictet Asset Management Ltd. boosted its position in shares of S&P Global by 17.7% in the 3rd quarter. Pictet Asset Management Ltd. now owns 170,831 shares of the business services provider’s stock worth $26,703,000 after purchasing an additional 25,700 shares in the last quarter. Segment Wealth Management LLC bought a new stake in shares of S&P Global in the 3rd quarter worth approximately $273,000. Rehmann Capital Advisory Group boosted its position in shares of S&P Global by 18.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,374 shares of the business services provider’s stock worth $371,000 after purchasing an additional 376 shares in the last quarter. Leavell Investment Management Inc. bought a new stake in shares of S&P Global in the 3rd quarter worth approximately $210,000. Finally, Korea Investment CORP boosted its position in shares of S&P Global by 11.1% in the 3rd quarter. Korea Investment CORP now owns 310,109 shares of the business services provider’s stock worth $48,473,000 after purchasing an additional 30,900 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.
SPGI has been the topic of a number of analyst reports. Zacks Investment Research raised S&P Global from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Monday, July 17th. Barclays PLC upped their price objective on S&P Global from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, September 15th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $176.00 price objective on shares of S&P Global in a research report on Wednesday, October 18th. UBS AG upped their price objective on S&P Global from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, BidaskClub cut S&P Global from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 20th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. S&P Global presently has an average rating of “Buy” and an average price target of $164.75.
S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.19. S&P Global had a net margin of 30.15% and a return on equity of 187.30%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm posted $1.43 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last 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 dividend of $0.41 per share. The ex-dividend date is Monday, November 27th. This represents a $1.64 annualized dividend and a dividend yield of Infinity. S&P Global’s payout ratio is currently 24.08%.
In other news, 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 directly owns 106 shares in the company, valued at $16,059. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.
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S&P Global 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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