Wedge Capital Management L L P NC Sells 16,623 Shares of S&P Global Inc. (SPGI)
Wedge Capital Management L L P NC lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 216,231 shares of the business services provider’s stock after selling 16,623 shares during the quarter. Wedge Capital Management L L P NC owned 0.08% of S&P Global worth $33,799,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in SPGI. BlackRock Inc. boosted its position in shares of S&P Global by 11.3% in the second quarter. BlackRock Inc. now owns 17,197,188 shares of the business services provider’s stock valued at $2,510,617,000 after acquiring an additional 1,744,482 shares during the period. Janus Henderson Group PLC boosted its position in shares of S&P Global by 4,882.5% in the second quarter. Janus Henderson Group PLC now owns 1,745,016 shares of the business services provider’s stock valued at $254,755,000 after acquiring an additional 1,709,993 shares during the period. AJO LP bought a new stake in shares of S&P Global in the second quarter valued at about $130,724,000. Alliancebernstein L.P. raised its stake in S&P Global by 61.6% in the second quarter. Alliancebernstein L.P. now owns 1,837,354 shares of the business services provider’s stock valued at $268,235,000 after purchasing an additional 700,194 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in S&P Global by 59.9% in the second quarter. Prudential Financial Inc. now owns 1,394,031 shares of the business services provider’s stock valued at $203,515,000 after purchasing an additional 522,340 shares in the last quarter. 85.47% of the stock is owned by institutional investors.
Shares of S&P Global Inc. (NYSE:SPGI) traded up $3.19 during midday trading on Friday, reaching $158.69. The company’s stock had a trading volume of 1,723,441 shares, compared to its average volume of 1,266,681. The stock has a market cap of $40,465.95, a price-to-earnings ratio of 25.07, a P/E/G ratio of 1.91 and a beta of 1.51. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 4.00.
S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, October 26th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.19. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.45 billion. S&P Global had a net margin of 30.15% and a return on equity of 187.30%. S&P Global’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 earnings per share. analysts predict that S&P Global Inc. will post 6.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 28th will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.03%. S&P Global’s payout ratio is presently 24.08%.
SPGI has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $177.00 price target on shares of S&P Global in a research note on Friday, October 13th. Morgan Stanley boosted their price target on S&P Global from $154.00 to $158.00 and gave the company an “equal weight” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded S&P Global from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Barclays PLC boosted their price target on S&P Global from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $176.00 price target on shares of S&P Global in a research note on Wednesday, October 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $164.75.
In other news, SVP Nancy Luquette sold 860 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $151.50, for a total value of $130,290.00. Following the completion of the sale, the senior vice president now owns 106 shares of the company’s stock, valued at $16,059. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
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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