Pictet Asset Management Ltd. Has $20.73 Million Stake in S&P Global Inc. (NYSE:SPGI)
Pictet Asset Management Ltd. decreased its position in S&P Global Inc. (NYSE:SPGI) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,131 shares of the business services provider’s stock after selling 5,500 shares during the period. Pictet Asset Management Ltd.’s holdings in S&P Global were worth $20,726,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in SPGI. Vanguard Group Inc. raised its stake in shares of S&P Global by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,395,347 shares of the business services provider’s stock worth $2,535,747,000 after buying an additional 740,631 shares during the period. BlackRock Inc. raised its stake in shares of S&P Global by 1,866.9% in the first quarter. BlackRock Inc. now owns 15,452,706 shares of the business services provider’s stock worth $2,020,285,000 after buying an additional 14,667,076 shares during the period. OppenheimerFunds Inc. raised its stake in shares of S&P Global by 4.2% in the first quarter. OppenheimerFunds Inc. now owns 6,211,104 shares of the business services provider’s stock worth $812,041,000 after buying an additional 251,294 shares during the period. Independent Franchise Partners LLP raised its stake in shares of S&P Global by 0.6% in the second quarter. Independent Franchise Partners LLP now owns 4,984,751 shares of the business services provider’s stock worth $727,723,000 after buying an additional 30,708 shares during the period. Finally, Ameriprise Financial Inc. increased its position in S&P Global by 4.5% in the first quarter. Ameriprise Financial Inc. now owns 4,151,759 shares of the business services provider’s stock worth $542,786,000 after buying an additional 177,338 shares in the last quarter. Hedge funds and other institutional investors own 85.62% of the company’s stock.
S&P Global Inc. (SPGI) opened at 148.41 on Friday. S&P Global Inc. has a 52 week low of $107.21 and a 52 week high of $158.35. The stock has a market cap of $38.14 billion, a P/E ratio of 17.29 and a beta of 1.52. The stock has a 50 day moving average of $149.99 and a 200-day moving average of $137.44.
S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.46 billion. S&P Global had a net margin of 38.78% and a return on equity of 202.37%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 earnings per share. Analysts forecast that S&P Global Inc. will post $6.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, August 24th. S&P Global’s payout ratio is 19.16%.
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A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of S&P Global from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets increased their price target on shares of S&P Global from $152.00 to $161.00 and gave the stock a “no rating at time” rating in a research note on Friday, July 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price target (up previously from $139.00) on shares of S&P Global in a research note on Wednesday, April 26th. Raymond James Financial, Inc. raised shares of S&P Global from a “market perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Monday, April 17th. Finally, Argus reaffirmed a “buy” rating and set a $158.00 price target (up previously from $150.00) on shares of S&P Global in a research note on Monday, May 29th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $153.82.
In other news, Director Marco Alvera acquired 400 shares of S&P Global stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average cost of $140.09 per share, for a total transaction of $56,036.00. Following the completion of the purchase, the director now owns 400 shares of the company’s stock, valued at $56,036. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.
S&P Global Company 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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