State of Tennessee Treasury Department cut its position in S&P Global Inc. (NYSE:SPGI) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,567 shares of the business services provider’s stock after selling 10,456 shares during the period. State of Tennessee Treasury Department’s holdings in S&P Global were worth $9,226,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in S&P Global during the first quarter valued at approximately $101,000. Elgethun Capital Management purchased a new stake in S&P Global during the fourth quarter valued at approximately $115,000. Robecosam AG purchased a new stake in S&P Global during the third quarter valued at approximately $125,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in S&P Global during the fourth quarter valued at about $125,000. Finally, State of Alaska Department of Revenue bought a new position in S&P Global during the first quarter valued at about $125,000. 88.27% of the stock is owned by institutional investors.
Shares of S&P Global Inc. (SPGI) traded up 0.03% during mid-day trading on Friday, hitting $148.49. The company’s stock had a trading volume of 1,324,482 shares. The stock has a 50-day moving average of $140.63 and a 200-day moving average of $127.48. S&P Global Inc. has a 12-month low of $99.15 and a 12-month high of $149.17. The company has a market cap of $38.28 billion, a PE ratio of 17.70 and a beta of 1.50.
S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, April 25th. The business services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.23. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.37 billion. S&P Global had a net margin of 38.30% and a return on equity of 245.38%. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that S&P Global Inc. will post $6.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 26th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.10%. S&P Global’s payout ratio is 19.57%.
Several equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of S&P Global from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. Raymond James Financial, Inc. upgraded shares of S&P Global from a “market perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Monday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price objective (up previously from $139.00) on shares of S&P Global in a research note on Wednesday, April 26th. Finally, Argus reaffirmed a “buy” rating and set a $158.00 price objective (up previously from $150.00) on shares of S&P Global in a research note on Monday, May 29th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $143.33.
In other news, Director Marco Alvera acquired 400 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $140.09 per share, with a total value of $56,036.00. Following the purchase, the director now directly owns 400 shares of the company’s stock, valued at $56,036. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by company 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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