Bank of New York Mellon Corp reduced its position in S&P Global Inc. (NYSE:SPGI) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,629,242 shares of the business services provider’s stock after selling 216,135 shares during the period. Bank of New York Mellon Corp owned 1.02% of S&P Global worth $383,843,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of SPGI. Advisory Services Network LLC bought a new position in shares of S&P Global during the first quarter worth about $101,000. American Beacon Advisors Inc. acquired a new stake in S&P Global during the first quarter valued at about $103,000. State of Alaska Department of Revenue acquired a new stake in S&P Global during the first quarter valued at about $125,000. Guardian Life Insurance Co. of America boosted its stake in 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 valued at $131,000 after buying an additional 10 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in S&P Global by 5.4% in the first quarter. Parallel Advisors LLC now owns 971 shares of the business services provider’s stock valued at $131,000 after buying an additional 50 shares during the last quarter. Institutional investors own 84.35% of the company’s stock.
Shares of S&P Global Inc. (NYSE:SPGI) opened at 152.27 on Thursday. S&P Global Inc. has a 52-week low of $107.21 and a 52-week high of $158.35. The company has a market cap of $39.13 billion, a P/E ratio of 17.74 and a beta of 1.52. The firm has a 50-day moving average of $150.42 and a 200-day moving average of $138.25.
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, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $1.44 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Equities research analysts forecast that S&P Global Inc. will post $6.34 earnings per share for the current 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. The ex-dividend date is Thursday, August 24th. This represents a $1.64 dividend on an annualized basis and a yield of 1.08%. S&P Global’s payout ratio is presently 19.16%.
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Several analysts have weighed in on SPGI shares. BMO Capital Markets lifted their price objective on S&P Global from $152.00 to $161.00 and gave the company a “no rating at time” rating in a research report on Friday, July 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price objective (up from $139.00) on shares of S&P Global in a research report on Wednesday, April 26th. Zacks Investment Research cut S&P Global from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Argus reaffirmed a “buy” rating and set a $158.00 price objective (up from $150.00) on shares of S&P Global in a research report on Monday, May 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $146.00 price objective (up from $145.00) on shares of S&P Global in a research report on Friday, July 14th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $153.73.
In other news, Director Marco Alvera bought 400 shares of S&P Global stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $140.09 per share, with a total value of $56,036.00. Following the completion of the purchase, the director now directly owns 400 shares of the company’s stock, valued at $56,036. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.
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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