Geode Capital Management LLC Acquires 81,119 Shares of S&P Global Inc (SPGI)
Geode Capital Management LLC boosted its position in shares of S&P Global Inc (NYSE:SPGI) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,466,870 shares of the business services provider’s stock after purchasing an additional 81,119 shares during the period. Geode Capital Management LLC’s holdings in S&P Global were worth $416,931,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its position in S&P Global by 2.3% during the 4th quarter. BlackRock Inc. now owns 18,078,515 shares of the business services provider’s stock valued at $3,062,502,000 after purchasing an additional 401,826 shares during the last quarter. Edgewood Management LLC grew its position in S&P Global by 2.4% during the 3rd quarter. Edgewood Management LLC now owns 6,025,481 shares of the business services provider’s stock valued at $941,843,000 after purchasing an additional 141,206 shares during the last quarter. JPMorgan Chase & Co. grew its position in S&P Global by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,421,615 shares of the business services provider’s stock valued at $687,694,000 after purchasing an additional 157,161 shares during the last quarter. Capital International Investors grew its position in S&P Global by 1.7% during the 3rd quarter. Capital International Investors now owns 2,206,505 shares of the business services provider’s stock valued at $344,899,000 after purchasing an additional 36,562 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its position in S&P Global by 9.3% during the 4th quarter. Mawer Investment Management Ltd. now owns 1,848,721 shares of the business services provider’s stock valued at $313,173,000 after purchasing an additional 156,910 shares during the last quarter. 84.97% of the stock is currently owned by institutional investors.
In other news, CEO Douglas L. Peterson sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $187.30, for a total value of $749,200.00. Following the transaction, the chief executive officer now owns 145,850 shares in the company, valued at approximately $27,317,705. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.
S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, February 6th. The business services provider reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.22. S&P Global had a net margin of 24.69% and a return on equity of 199.44%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. sell-side analysts forecast that S&P Global Inc will post 8.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Monday, February 26th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, February 23rd. This is a boost from S&P Global’s previous quarterly dividend of $0.41. S&P Global’s dividend payout ratio is 34.60%.
SPGI has been the topic of a number of recent analyst reports. Susquehanna Bancshares downgraded shares of S&P Global from a “positive” rating to a “neutral” rating in a report on Wednesday, February 7th. BMO Capital Markets raised their price target on shares of S&P Global from $183.00 to $186.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Credit Suisse Group raised their price target on shares of S&P Global from $183.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Zacks Investment Research downgraded shares of S&P Global from a “buy” rating to a “hold” rating and set a $188.00 price target on the stock. in a report on Friday, January 5th. Finally, Stifel Nicolaus initiated coverage on shares of S&P Global in a report on Tuesday, December 19th. They set a “hold” rating and a $186.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $190.36.
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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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