ING Groep NV bought a new position in S&P Global Inc. (NYSE:SPGI) during the second quarter, Holdings Channel reports. The firm bought 42,943 shares of the company’s stock, valued at approximately $4,604,000.
Several other institutional investors have also recently made changes to their positions in SPGI. West Oak Capital LLC bought a new position in S&P Global during the second quarter worth approximately $139,000. Meeder Asset Management Inc. acquired a new position in shares of S&P Global during the second quarter valued at about $147,000. Arcadia Investment Management Corp MI acquired a new position in shares of S&P Global during the second quarter valued at about $180,000. Trust Co. of Vermont acquired a new position in shares of S&P Global during the second quarter valued at about $208,000. Finally, Security National Trust Co. acquired a new position in shares of S&P Global during the second quarter valued at about $211,000. Institutional investors own 84.81% of the company’s stock.
S&P Global Inc. (NYSE:SPGI) traded down 0.61% during midday trading on Tuesday, hitting $124.20. The company had a trading volume of 1,274,353 shares. The firm has a market capitalization of $32.79 billion, a P/E ratio of 28.49 and a beta of 1.28. The firm’s 50 day moving average is $123.64 and its 200-day moving average is $112.03. S&P Global Inc. has a 52 week low of $78.55 and a 52 week high of $128.40.
S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, July 28th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.10. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. S&P Global had a return on equity of 320.10% and a net margin of 21.32%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 earnings per share. On average, equities research analysts expect that S&P Global Inc. will post $5.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 26th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. S&P Global’s dividend payout ratio is currently 32.95%.
SPGI has been the topic of several recent analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $120.00 price target on shares of S&P Global in a research note on Tuesday, July 19th. Barclays PLC lifted their price target on S&P Global from $115.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Macquarie initiated coverage on S&P Global in a research note on Thursday, August 25th. They issued an “outperform” rating and a $140.00 price target on the stock. Cantor Fitzgerald set a $117.00 price target on S&P Global and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Zacks Investment Research upgraded S&P Global from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a research note on Tuesday, September 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $131.43.
In other S&P Global news, insider Finbarr J. Oneill sold 36,674 shares of the stock in a transaction 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 sale, the insider now owns 50,772 shares in the company, valued at $6,141,888.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy Luquette sold 500 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $123.08, for a total value of $61,540.00. Following the sale, the senior vice president now owns 133 shares in the company, valued at approximately $16,369.64. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
S&P Global Company Profile
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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