Quantitative Systematic Strategies LLC acquired a new position in S&P Global Inc. (NYSE:SPGI) during the second quarter, Holdings Channel reports. The firm acquired 3,545 shares of the company’s stock, valued at approximately $376,000.
Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. acquired a new position in S&P Global during the second quarter valued at about $111,858,000. Bristol John W & Co. Inc. NY acquired a new position in S&P Global during the second quarter valued at about $72,200,000. Waverton Investment Management Ltd acquired a new position in S&P Global during the second quarter valued at about $57,184,000. New York State Teachers Retirement System acquired a new position in S&P Global during the second quarter valued at about $49,939,000. Finally, Packer & Co Ltd acquired a new position in S&P Global during the second quarter valued at about $33,904,000. 84.81% of the stock is owned by hedge funds and other institutional investors.
S&P Global Inc. (NYSE:SPGI) traded up 0.39% during midday trading on Friday, hitting $123.15. The company’s stock had a trading volume of 958,039 shares. The company’s 50 day moving average price is $124.32 and its 200 day moving average price is $113.05. The firm has a market cap of $32.51 billion, a P/E ratio of 28.25 and a beta of 1.28. S&P Global Inc. has a 12 month low of $78.55 and a 12 month high of $128.40.
S&P Global (NYSE:SPGI) last released its earnings results on Thursday, July 28th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.10. S&P Global had a net margin of 21.32% and a return on equity of 320.10%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $1.21 EPS. S&P Global’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that S&P Global Inc. will post $5.20 EPS for the current year.
Several equities analysts have recently issued reports on SPGI shares. Zacks Investment Research raised S&P Global from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, September 21st. Cantor Fitzgerald reiterated a “buy” rating on shares of S&P Global in a research note on Friday, August 19th. Barclays PLC upped their price objective 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. Morgan Stanley reiterated an “equal weight” rating and issued a $120.00 price objective on shares of S&P Global in a research note on Tuesday, July 19th. Finally, Argus upped their price objective on S&P Global from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $131.29.
In other S&P Global news, insider Finbarr J. Oneill sold 36,674 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $120.97, for a total value of $4,436,453.78. Following the sale, the insider now owns 50,772 shares in the company, valued at approximately $6,141,888.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy Luquette sold 500 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $123.08, for a total transaction of $61,540.00. Following the completion of 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. Corporate 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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