1832 Asset Management L.P. Sells 1,044,713 Shares of S&P Global Inc. (NYSE:SPGI)

1832 Asset Management L.P. lessened its holdings in S&P Global Inc. (NYSE:SPGIGet Rating) by 84.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,630 shares of the business services provider’s stock after selling 1,044,713 shares during the quarter. 1832 Asset Management L.P.’s holdings in S&P Global were worth $80,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tcwp LLC bought a new position in S&P Global in the 1st quarter valued at $138,000. Douglas Lane & Associates LLC grew its position in S&P Global by 11.3% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,272 shares of the business services provider’s stock valued at $522,000 after acquiring an additional 129 shares during the last quarter. IFM Investors Pty Ltd grew its position in S&P Global by 69.9% in the 1st quarter. IFM Investors Pty Ltd now owns 54,102 shares of the business services provider’s stock valued at $22,192,000 after acquiring an additional 22,251 shares during the last quarter. Country Trust Bank grew its position in S&P Global by 8.5% in the 1st quarter. Country Trust Bank now owns 370 shares of the business services provider’s stock valued at $152,000 after acquiring an additional 29 shares during the last quarter. Finally, Eschler Asset Management LLP bought a new position in S&P Global in the 1st quarter valued at $451,000. Institutional investors own 88.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SPGI. Royal Bank of Canada lowered their target price on S&P Global from $540.00 to $434.00 in a report on Thursday, June 2nd. Barclays lowered their target price on S&P Global from $450.00 to $385.00 and set an “overweight” rating for the company in a report on Friday, June 3rd. BMO Capital Markets lowered their target price on S&P Global from $433.00 to $365.00 in a report on Thursday, June 2nd. Morgan Stanley lowered their target price on S&P Global from $398.00 to $390.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Finally, Atlantic Securities decreased their price objective on S&P Global from $440.00 to $375.00 and set a “neutral” rating for the company in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, S&P Global presently has an average rating of “Moderate Buy” and a consensus price target of $416.43.

Insider Activity

In other news, CEO Douglas L. Peterson sold 7,500 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $377.13, for a total value of $2,828,475.00. Following the transaction, the chief executive officer now directly owns 174,890 shares of the company’s stock, valued at $65,956,265.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Douglas L. Peterson sold 7,500 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $377.13, for a total value of $2,828,475.00. Following the transaction, the chief executive officer now directly owns 174,890 shares of the company’s stock, valued at $65,956,265.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John L. Berisford sold 13,450 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $370.59, for a total value of $4,984,435.50. Following the completion of the transaction, the insider now directly owns 24,430 shares in the company, valued at $9,053,513.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,150 shares of company stock valued at $10,146,219. Company insiders own 0.10% of the company’s stock.

S&P Global Trading Up 0.6 %

S&P Global stock opened at $371.50 on Tuesday. The stock has a 50-day moving average of $365.08 and a two-hundred day moving average of $367.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.26 and a current ratio of 1.26. S&P Global Inc. has a one year low of $311.87 and a one year high of $484.21. The stock has a market cap of $123.90 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.68 and a beta of 1.05.

S&P Global (NYSE:SPGIGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The business services provider reported $2.81 EPS for the quarter, missing analysts’ consensus estimates of $2.91 by ($0.10). S&P Global had a net margin of 38.49% and a return on equity of 17.22%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the business posted $3.62 earnings per share. The company’s quarterly revenue was up 42.1% compared to the same quarter last year. On average, research analysts anticipate that S&P Global Inc. will post 11.49 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 26th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, August 25th. S&P Global’s dividend payout ratio is presently 25.34%.

S&P Global Company Profile

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S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

See Also

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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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