Ameriprise Financial Inc. lessened its holdings in S&P Global Inc. (NYSE:SPGI) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,043,001 shares of the business services provider’s stock after selling 108,758 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.57% of S&P Global worth $590,261,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of S&P Global by 4.0% during the first quarter. Vanguard Group Inc. now owns 19,395,347 shares of the business services provider’s stock valued at $2,535,747,000 after acquiring an additional 740,631 shares during the period. BlackRock Inc. boosted its holdings in shares of S&P Global by 1,866.9% during the first quarter. BlackRock Inc. now owns 15,452,706 shares of the business services provider’s stock valued at $2,020,285,000 after acquiring an additional 14,667,076 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of S&P Global by 4.2% during the first quarter. OppenheimerFunds Inc. now owns 6,211,104 shares of the business services provider’s stock valued at $812,041,000 after acquiring an additional 251,294 shares during the period. Independent Franchise Partners LLP boosted its holdings in shares of S&P Global by 0.6% during the second quarter. Independent Franchise Partners LLP now owns 4,984,751 shares of the business services provider’s stock valued at $727,723,000 after acquiring an additional 30,708 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of S&P Global by 8.2% during the first quarter. Geode Capital Management LLC now owns 2,294,233 shares of the business services provider’s stock valued at $299,478,000 after acquiring an additional 173,058 shares during the period. 85.39% of the stock is owned by hedge funds and other institutional investors.
S&P Global Inc. (NYSE:SPGI) traded down 0.07% during midday trading on Wednesday, reaching $153.50. 174,656 shares of the company traded hands. The company has a 50-day moving average price of $151.93 and a 200-day moving average price of $141.56. The company has a market cap of $39.45 billion, a price-to-earnings ratio of 17.88 and a beta of 1.51. S&P Global Inc. has a 12-month low of $107.21 and a 12-month high of $158.35.
S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. S&P Global had a return on equity of 202.37% and a net margin of 38.78%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $1.44 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts predict that S&P Global Inc. will post $6.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, August 24th. S&P Global’s payout ratio is presently 19.16%.
In other news, SVP Nancy Luquette sold 860 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $151.50, for a total transaction of $130,290.00. Following the sale, the senior vice president now owns 106 shares in the company, valued at $16,059. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
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SPGI has been the subject of several analyst reports. Zacks Investment Research raised shares of S&P Global from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a report on Monday, July 17th. Barclays PLC boosted their price target on shares of S&P Global from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, June 28th. Argus reissued a “buy” rating and set a $158.00 price target (up previously 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 target (up previously from $145.00) on shares of S&P Global in a report on Friday, July 14th. Finally, BMO Capital Markets boosted their price target 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. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $155.50.
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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