IBM Retirement Fund boosted its position in S&P Global Inc. (NYSE:SPGI) by 114.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,308 shares of the business services provider’s stock after buying an additional 3,366 shares during the period. IBM Retirement Fund’s holdings in S&P Global were worth $1,029,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of SPGI. BlackRock Inc. increased 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. Marshall Wace North America L.P. acquired a new position in S&P Global during the first quarter worth approximately $170,025,000. Swedbank acquired a new position in S&P Global during the first quarter worth approximately $101,025,000. Vanguard Group Inc. boosted its position in 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 in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in S&P Global during the first quarter worth approximately $87,138,000. Institutional investors own 84.35% of the company’s stock.
Shares of S&P Global Inc. (SPGI) opened at 150.10 on Friday. The firm has a market capitalization of $38.58 billion, a PE ratio of 17.49 and a beta of 1.52. S&P Global Inc. has a 52-week low of $107.21 and a 52-week high of $158.35. The stock’s 50 day moving average price is $150.57 and its 200-day moving average price is $138.54.
S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Equities research analysts anticipate that S&P Global Inc. will post $6.34 EPS for the current fiscal year.
The business also recently disclosed 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 1.09%. The ex-dividend date is Thursday, August 24th. S&P Global’s payout ratio is presently 19.16%.
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Several research analysts recently issued reports on the company. Zacks Investment Research raised S&P Global from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a research note on Monday, August 14th. BMO Capital Markets increased their price objective on S&P Global from $161.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. UBS AG increased their target price on S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 28th. 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 report on Friday, July 14th. Finally, Barclays PLC increased their price objective on S&P Global from $150.00 to $155.00 and gave the company an “overweight” rating in a report 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’s stock. The stock has an average rating of “Buy” and an average target price of $153.73.
In related news, Director Marco Alvera acquired 400 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased 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 of the company’s stock, valued at approximately $56,036. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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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