Westfield Capital Management Co. LP decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 45.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 363,265 shares of the business services provider’s stock after selling 303,237 shares during the period. Westfield Capital Management Co. LP owned 0.14% of S&P Global worth $53,033,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in SPGI. BlackRock Inc. increased its stake 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 purchasing an additional 14,667,076 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of S&P Global during the first quarter valued at approximately $170,025,000. AJO LP bought a new position in shares of S&P Global during the second quarter valued at approximately $130,724,000. Vanguard Group Inc. increased its stake 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 purchasing an additional 740,631 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of S&P Global by 61.6% during the second quarter. Alliancebernstein L.P. now owns 1,837,354 shares of the business services provider’s stock valued at $268,235,000 after purchasing an additional 700,194 shares in the last quarter. 85.39% of the stock is owned by institutional investors and hedge funds.
Shares of S&P Global Inc. (NYSE SPGI) traded up 0.18% during midday trading on Friday, hitting $154.00. 1,085,879 shares of the company traded hands. S&P Global Inc. has a 52 week low of $107.21 and a 52 week high of $158.35. The stock has a market capitalization of $39.58 billion, a P/E ratio of 17.94 and a beta of 1.51. The company has a 50-day moving average price of $151.84 and a 200-day moving average price of $142.07.
S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.72 earnings per share for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. Analysts anticipate that S&P Global Inc. will post $6.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $1.64 annualized dividend and a dividend yield of 1.06%. S&P Global’s payout ratio is presently 19.16%.
A number of brokerages have weighed in on SPGI. Barclays PLC raised their target price on shares of S&P Global from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. Zacks Investment Research downgraded shares of S&P Global from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. UBS AG raised their target price on shares of S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 28th. BMO Capital Markets raised their target price on shares of S&P Global from $161.00 to $164.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, 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 note on Friday, July 14th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. S&P Global presently has a consensus rating of “Buy” and an average target price of $157.00.
In other news, SVP Nancy Luquette sold 860 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $151.50, for a total value of $130,290.00. Following the completion of the sale, the senior vice president now owns 106 shares of the company’s stock, valued at approximately $16,059. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
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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