S&P Global Inc. (NYSE:SPGI) Stake Reduced by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board reduced its position in S&P Global Inc. (NYSE:SPGI) by 23.0% during the second quarter, Holdings Channel reports. The firm owned 362,863 shares of the business services provider’s stock after selling 108,500 shares during the period. Canada Pension Plan Investment Board’s holdings in S&P Global were worth $52,974,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in SPGI. Advisory Services Network LLC bought a new stake in shares of S&P Global during the first quarter worth $101,000. American Beacon Advisors Inc. bought a new stake in shares of S&P Global during the first quarter worth $103,000. State of Alaska Department of Revenue bought a new stake in shares of S&P Global during the first quarter worth $125,000. Parallel Advisors LLC raised its stake in shares of S&P Global by 5.4% in the first quarter. Parallel Advisors LLC now owns 971 shares of the business services provider’s stock worth $131,000 after buying an additional 50 shares during the last quarter. Finally, Guardian Life Insurance Co. of America raised its stake in shares of S&P Global by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 999 shares of the business services provider’s stock worth $131,000 after buying an additional 10 shares during the last quarter. 85.62% of the stock is currently owned by institutional investors and hedge funds.
S&P Global Inc. (SPGI) opened at 148.34 on Friday. S&P Global Inc. has a 12 month low of $107.21 and a 12 month high of $158.35. The company’s 50-day moving average is $149.90 and its 200-day moving average is $137.21. The stock has a market capitalization of $38.12 billion, a PE ratio of 17.28 and a beta of 1.52.
S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.46 billion. S&P Global had a net margin of 38.78% and a return on equity of 202.37%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. Equities research analysts forecast that S&P Global Inc. will post $6.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a 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 brokerages have recently weighed in on SPGI. BMO Capital Markets lifted their target price on shares of S&P Global from $161.00 to $164.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. UBS AG lifted their target price on shares of S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of S&P Global from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research note on Monday, July 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $146.00 target price (up previously from $145.00) on shares of S&P Global in a research note on Friday, July 14th. Finally, Barclays PLC lifted their target price on shares of S&P Global from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $153.82.
In other S&P Global news, Director Marco Alvera bought 400 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $140.09 per share, for a total transaction of $56,036.00. Following the acquisition, the director now directly owns 400 shares in the company, valued at $56,036. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate 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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