Select Equity Group L.P. Increases Stock Position in S&P Global Inc. (NYSE:SPGI)

Select Equity Group L.P. increased its holdings in S&P Global Inc. (NYSE:SPGI) by 43.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,500 shares of the business services provider’s stock after acquiring an additional 71,920 shares during the quarter. Select Equity Group L.P. owned about 0.08% of S&P Global worth $105,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital International Investors raised its holdings in shares of S&P Global by 5.3% during the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after purchasing an additional 291,712 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of S&P Global by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock worth $1,260,665,000 after acquiring an additional 29,227 shares during the last quarter. Capital World Investors grew its position in shares of S&P Global by 0.5% during the 4th quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock valued at $1,241,706,000 after acquiring an additional 12,644 shares during the period. Ameriprise Financial Inc. increased its stake in shares of S&P Global by 13.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after purchasing an additional 298,645 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its holdings in S&P Global by 2.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 2,199,754 shares of the business services provider’s stock worth $935,885,000 after purchasing an additional 46,131 shares during the period. Institutional investors own 87.17% of the company’s stock.

S&P Global Trading Down 0.6 %

Shares of S&P Global stock opened at $511.72 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The firm has a market cap of $160.12 billion, a price-to-earnings ratio of 57.37, a PEG ratio of 2.91 and a beta of 1.17. S&P Global Inc. has a twelve month low of $340.49 and a twelve month high of $528.02. The business has a 50-day moving average price of $501.55 and a 200-day moving average price of $457.43.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the business posted $3.12 earnings per share. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that S&P Global Inc. will post 14.57 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. S&P Global’s dividend payout ratio is presently 40.81%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SPGI. Bank of America upped their price target on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Oppenheimer increased their target price on shares of S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Barclays raised their target price on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Wells Fargo & Company upgraded shares of S&P Global to a “strong-buy” rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $548.18.

Insider Activity at S&P Global

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at $715,205.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the completion of the transaction, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,862 shares of company stock worth $8,645,727. Insiders own 0.10% of the company’s stock.

S&P Global Company Profile

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 through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.