Progressive Investment Management Corp bought a new stake in S&P Global Inc. (NYSE:SPGI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,337 shares of the business services provider’s stock, valued at approximately $633,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC bought a new position in S&P Global during the first quarter valued at $101,000. American Beacon Advisors Inc. bought a new position in S&P Global during the first quarter valued at $103,000. State of Alaska Department of Revenue bought a new position in S&P Global during the first quarter valued at $125,000. Guardian Life Insurance Co. of America boosted its position 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 position 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. 84.35% of the stock is owned by institutional investors and hedge funds.
Shares of S&P Global Inc. (NYSE SPGI) opened at 150.10 on Monday. The firm’s 50-day moving average is $150.57 and its 200-day moving average is $138.54. S&P Global Inc. has a one year low of $107.21 and a one year high of $158.35. The stock has a market capitalization of $38.58 billion, a PE ratio of 17.49 and a beta of 1.52.
S&P Global (NYSE:SPGI) last released its 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. The company had revenue of $1.51 billion during 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%. S&P Global’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. On average, analysts expect that S&P Global Inc. will post $6.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be paid a $0.41 dividend. 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 dividend payout ratio (DPR) is presently 19.16%.
SPGI has been the subject of several research reports. UBS AG boosted their price objective on shares of S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a report 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 price objective for the company in a report on Monday, July 17th. Argus reissued a “buy” rating and set a $158.00 price objective (up from $150.00) on shares of S&P Global in a report on Monday, May 29th. Morgan Stanley reissued an “equal weight” rating and set a $146.00 price objective (up from $145.00) on shares of S&P Global in a report on Friday, July 14th. Finally, BMO Capital Markets boosted their price objective on shares of S&P Global from $152.00 to $161.00 and gave the company a “no rating at time” rating in a report on Friday, July 14th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. S&P Global has an average rating of “Buy” and an average price target of $153.73.
In related news, Director Marco Alvera bought 400 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average cost of $140.09 per share, for a total transaction of $56,036.00. Following the purchase, the director now directly owns 400 shares of the company’s stock, valued at $56,036. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by company 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.
Receive News & Ratings for S&P; Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&P; Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
