Ingalls & Snyder LLC maintained its stake in S&P Global Inc. (NYSE:SPGI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,625 shares of the business services provider’s stock at the end of the second quarter. Ingalls & Snyder LLC’s holdings in S&P Global were worth $383,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in S&P Global during the first quarter worth approximately $101,000. American Beacon Advisors Inc. purchased a new stake in S&P Global during the first quarter worth approximately $103,000. State of Alaska Department of Revenue purchased a new stake in S&P Global during the first quarter worth approximately $125,000. Guardian Life Insurance Co. of America boosted its stake in S&P Global by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 999 shares of the business services provider’s stock worth $131,000 after buying an additional 10 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in S&P Global by 5.4% in the first quarter. Parallel Advisors LLC now owns 971 shares of the business services provider’s stock worth $131,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.
S&P Global Inc. (SPGI) opened at 150.95 on Tuesday. The firm has a market capitalization of $38.79 billion, a price-to-earnings ratio of 17.59 and a beta of 1.52. The company has a 50-day moving average of $149.31 and a 200-day moving average of $135.87. S&P Global Inc. has a 52 week low of $107.21 and a 52 week high of $158.35.
S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.15. S&P Global had a net margin of 38.78% and a return on equity of 202.37%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts forecast that S&P Global Inc. will post $6.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, August 24th. S&P Global’s dividend payout ratio (DPR) is currently 19.16%.
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A number of research firms recently commented on SPGI. Zacks Investment Research upgraded shares of S&P Global from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research report on Monday, July 17th. UBS AG upped their price objective on shares of S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $153.00 price objective (up previously from $139.00) on shares of S&P Global in a research report on Wednesday, April 26th. BMO Capital Markets upped their price objective on shares of S&P Global from $152.00 to $161.00 and gave the company a “no rating at time” rating in a research report on Friday, July 14th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $146.00 price objective (up previously from $145.00) on shares of S&P Global in a research report on Friday, July 14th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $153.82.
In related news, Director Marco Alvera purchased 400 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $140.09 per share, with a total value of $56,036.00. Following the completion of the purchase, the director now owns 400 shares in the company, valued at approximately $56,036. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.
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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