Creative Planning raised its holdings in S&P Global Inc (NYSE:SPGI) by 12.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,887 shares of the business services provider’s stock after buying an additional 3,193 shares during the quarter. Creative Planning’s holdings in S&P Global were worth $7,077,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SPGI. Krane Funds Advisors LLC purchased a new position in S&P Global during the second quarter valued at $25,000. River & Mercantile Asset Management LLP bought a new position in shares of S&P Global in the second quarter worth about $25,000. Julex Capital Management LLC bought a new position in shares of S&P Global in the third quarter worth about $25,000. Coastal Investment Advisors Inc. boosted its stake in shares of S&P Global by 409.1% in the second quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock worth $26,000 after acquiring an additional 90 shares during the period. Finally, Coastal Capital Group Inc. bought a new position in shares of S&P Global in the second quarter worth about $27,000. Hedge funds and other institutional investors own 82.69% of the company’s stock.
SPGI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on S&P Global in a research note on Wednesday, July 10th. They issued an “overweight” rating and a $260.00 price objective for the company. Atlantic Securities downgraded S&P Global from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $220.00 to $260.00 in a research report on Tuesday, August 6th. Cantor Fitzgerald boosted their target price on S&P Global from $244.00 to $294.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their target price on S&P Global from $257.00 to $271.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Edward Jones assumed coverage on S&P Global in a research report on Wednesday, September 11th. They issued a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $264.42.
Shares of NYSE SPGI traded up $0.63 during midday trading on Thursday, hitting $254.02. The company’s stock had a trading volume of 9,244 shares, compared to its average volume of 1,088,666. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 8.91. S&P Global Inc has a 12-month low of $156.68 and a 12-month high of $269.57. The firm has a market cap of $62.65 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. The business’s 50 day moving average is $250.39 and its two-hundred day moving average is $239.10.
S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, October 29th. The business services provider reported $2.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $0.12. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.65 billion. S&P Global had a return on equity of 448.14% and a net margin of 32.22%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 EPS. On average, analysts predict that S&P Global Inc will post 9.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, November 25th. S&P Global’s dividend payout ratio is currently 26.82%.
In other S&P Global news, CFO Ewout L. Steenbergen sold 1,760 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $254.56, for a total value of $448,025.60. Following the completion of the transaction, the chief financial officer now owns 8,534 shares in the company, valued at $2,172,415.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Alexander Matturri, Jr. sold 1,007 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $254.46, for a total transaction of $256,241.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,986 shares of company stock worth $3,063,427. Insiders own 0.20% of the company’s stock.
About S&P Global
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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