Herndon Capital Management LLC 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 757,317 shares of the company’s stock, valued at approximately $81,230,000. S&P Global comprises about 3.1% of Herndon Capital Management LLC’s investment portfolio, making the stock its 9th largest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. purchased a new position in shares of S&P Global during the second quarter valued at about $111,858,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of S&P Global during the second quarter valued at about $80,675,000. Bristol John W & Co. Inc. NY purchased a new position in shares of S&P Global during the second quarter valued at about $72,200,000. Waverton Investment Management Ltd purchased a new position in shares of S&P Global during the second quarter valued at about $57,184,000. Finally, New York State Teachers Retirement System purchased a new position in shares of S&P Global during the second quarter valued at about $49,939,000. 84.80% of the stock is owned by institutional investors and hedge funds.
S&P Global Inc. (NYSE:SPGI) traded up 0.28% during trading on Tuesday, hitting $122.89. 796,943 shares of the company’s stock were exchanged. S&P Global Inc. has a 12-month low of $78.55 and a 12-month high of $128.40. The firm has a market cap of $32.44 billion, a price-to-earnings ratio of 28.19 and a beta of 1.28. The company’s 50-day moving average price is $124.41 and its 200 day moving average price is $113.60.
S&P Global (NYSE:SPGI) last released its earnings results on Thursday, July 28th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.10. The company earned $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion. S&P Global had a net margin of 21.32% and a return on equity of 320.10%. S&P Global’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. Equities analysts forecast that S&P Global Inc. will post $5.20 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of S&P Global from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, September 21st. Cantor Fitzgerald reissued a “buy” rating on shares of S&P Global in a report on Friday, August 19th. Barclays PLC boosted their price objective on shares of S&P Global from $115.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, August 23rd. Morgan Stanley reissued an “equal weight” rating and set a $120.00 price objective on shares of S&P Global in a report on Tuesday, July 19th. Finally, Argus boosted their price objective on shares of S&P Global from $120.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. S&P Global has an average rating of “Buy” and a consensus target price of $131.29.
In other S&P Global news, SVP Nancy Luquette sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $123.08, for a total transaction of $61,540.00. Following the completion of the transaction, the senior vice president now directly owns 133 shares of the company’s stock, valued at approximately $16,369.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Finbarr J. Oneill sold 36,674 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $120.97, for a total transaction of $4,436,453.78. Following the transaction, the insider now directly owns 50,772 shares of the company’s stock, valued at $6,141,888.84. The disclosure for this sale can be found here. 0.60% 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 transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets across the world. The Company’s products cater to the capital markets, which includes asset managers, investment banks, commercial banks, exchanges and issuers; the commodities markets, which includes producers, traders and intermediaries within energy, metals, petrochemicals and agriculture, and the commercial markets, which includes professionals and corporate executives within automotive and marketing/research information services.
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