S&P Global Inc. (SPGI) Shares Sold by TD Asset Management Inc.
TD Asset Management Inc. cut its stake in S&P Global Inc. (NYSE:SPGI) by 6.5% during the second quarter, Holdings Channel reports. The institutional investor owned 110,895 shares of the business services provider’s stock after selling 7,669 shares during the period. TD Asset Management Inc.’s holdings in S&P Global were worth $16,190,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of SPGI. Oakbrook Investments LLC bought a new stake in S&P Global during the first quarter valued at about $2,968,000. Hartford Investment Management Co. raised its stake in S&P Global by 1.5% in the first quarter. Hartford Investment Management Co. now owns 70,206 shares of the business services provider’s stock valued at $9,179,000 after buying an additional 1,004 shares in the last quarter. DnB Asset Management AS raised its stake in S&P Global by 4.4% in the first quarter. DnB Asset Management AS now owns 84,528 shares of the business services provider’s stock valued at $11,051,000 after buying an additional 3,600 shares in the last quarter. GVO Asset Management Ltd raised its stake in S&P Global by 47.1% in the first quarter. GVO Asset Management Ltd now owns 293,375 shares of the business services provider’s stock valued at $38,392,000 after buying an additional 93,950 shares in the last quarter. Finally, Howe & Rusling Inc. raised its stake in S&P Global by 3.9% in the first quarter. Howe & Rusling Inc. now owns 77,513 shares of the business services provider’s stock valued at $10,134,000 after buying an additional 2,936 shares in the last quarter. Institutional investors own 85.62% of the company’s stock.
Shares of S&P Global Inc. (SPGI) opened at 148.41 on Friday. The stock’s 50 day moving average is $149.99 and its 200 day moving average is $137.44. S&P Global Inc. has a 12 month low of $107.21 and a 12 month high of $158.35. The firm has a market capitalization of $38.14 billion, a price-to-earnings ratio of 17.29 and a beta of 1.52.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. S&P Global had a net margin of 38.78% and a return on equity of 202.37%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm earned $1.44 earnings per share. S&P Global’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts forecast that S&P Global Inc. will post $6.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, August 24th. S&P Global’s dividend payout ratio is 19.16%.
Several analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of S&P Global from $161.00 to $164.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. UBS AG raised their price target on shares of S&P Global from $154.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Morgan Stanley restated an “equal weight” rating and issued a $146.00 price target (up from $145.00) on shares of S&P Global in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of 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. Finally, Barclays PLC raised their price target on shares of S&P Global from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $153.82.
In other S&P Global news, Director Marco Alvera purchased 400 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average cost of $140.09 per share, with a total value of $56,036.00. Following the completion of the transaction, the director now owns 400 shares in the company, valued at $56,036. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.
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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