Hartford Investment Management Co. lowered its holdings in shares of S&P Global Inc (NYSE:SPGI) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 28,787 shares of the business services provider’s stock after selling 702 shares during the quarter. Hartford Investment Management Co.’s holdings in S&P Global were worth $7,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Julex Capital Management LLC acquired a new stake in S&P Global during the 3rd quarter worth $25,000. River & Mercantile Asset Management LLP acquired a new stake in S&P Global during the 2nd quarter worth $25,000. Krane Funds Advisors LLC acquired a new stake in S&P Global during the 2nd quarter worth $25,000. Coastal Investment Advisors Inc. boosted its stake in S&P Global by 409.1% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock worth $26,000 after purchasing an additional 90 shares during the period. Finally, Coastal Capital Group Inc. acquired a new stake in S&P Global during the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 82.60% of the company’s stock.
SPGI stock opened at $248.59 on Tuesday. S&P Global Inc has a one year low of $156.68 and a one year high of $269.57. The stock has a market capitalization of $61.18 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. The company has a debt-to-equity ratio of 7.52, a quick ratio of 1.37 and a current ratio of 1.37. The company has a fifty day moving average of $250.12 and a 200-day moving average of $237.28.
S&P Global (NYSE:SPGI) last released its earnings results on Thursday, August 1st. The business services provider reported $2.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.15. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.65 billion. S&P Global had a net margin of 31.02% and a return on equity of 341.54%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $2.17 EPS. Equities analysts forecast that S&P Global Inc will post 9.23 earnings per share for the current fiscal year.
Several analysts have recently commented on SPGI shares. UBS Group raised their target price on shares of S&P Global from $252.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. ValuEngine cut shares of S&P Global from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus raised their target price on shares of S&P Global from $231.00 to $274.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Edward Jones started coverage on shares of S&P Global in a research note on Wednesday, September 11th. They issued a “buy” rating for the company. Finally, Atlantic Securities cut shares of S&P Global from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $220.00 to $260.00 in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $257.83.
In other news, EVP Steven J. Kemps sold 5,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $249.88, for a total value of $1,374,340.00. Following the completion of the transaction, the executive vice president now owns 7,540 shares in the company, valued at approximately $1,884,095.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Cafferillo sold 9,911 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $252.95, for a total transaction of $2,506,987.45. Following the completion of the transaction, the insider now owns 7,454 shares of the company’s stock, valued at approximately $1,885,489.30. The disclosure for this sale can be found here. Insiders sold a total of 22,418 shares of company stock valued at $5,666,549 in the last quarter. Insiders own 0.20% of the company’s stock.
S&P Global Company Profile
S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).
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