S&P Global Inc (NYSE:SPGI) Stake Boosted by Twin Capital Management Inc.
Twin Capital Management Inc. grew its stake in shares of S&P Global Inc (NYSE:SPGI) by 760.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,485 shares of the business services provider’s stock after purchasing an additional 26,060 shares during the quarter. Twin Capital Management Inc.’s holdings in S&P Global were worth $6,716,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of SPGI. Coastal Investment Advisors Inc. lifted its position in 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 purchasing an additional 90 shares during the period. Coastal Capital Group Inc. acquired a new stake in S&P Global in the second quarter worth approximately $27,000. Meridian Wealth Management LLC acquired a new stake in S&P Global in the first quarter worth approximately $26,000. Harvest Group Wealth Management LLC acquired a new stake in S&P Global in the first quarter worth approximately $28,000. Finally, Berman Capital Advisors LLC lifted its position in S&P Global by 59.6% in the first quarter. Berman Capital Advisors LLC now owns 166 shares of the business services provider’s stock worth $34,000 after purchasing an additional 62 shares during the period. 82.43% of the stock is owned by institutional investors.
In other news, CEO Alexander Matturri, Jr. sold 1,007 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $230.44, for a total value of $232,053.08. Following the transaction, the chief executive officer now directly owns 18,723 shares of the company’s stock, valued at $4,314,528.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven J. Kemps sold 5,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $249.88, for a total transaction of $1,374,340.00. Following the completion of the transaction, the executive vice president now directly owns 7,540 shares in the company, valued at $1,884,095.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,418 shares of company stock worth $4,113,381. Company insiders own 0.20% of the company’s stock.
S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.15. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.65 billion. S&P Global had a return on equity of 341.54% and a net margin of 31.02%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 earnings per share. As a group, equities research analysts expect that S&P Global Inc will post 9.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Monday, August 26th. S&P Global’s dividend payout ratio (DPR) is currently 26.82%.
SPGI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded S&P Global from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. UBS Group upped their target price on S&P Global from $252.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley upped their target price on S&P Global from $254.00 to $262.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. initiated coverage on S&P Global in a research report on Wednesday, July 10th. They issued an “overweight” rating and a $260.00 target price for the company. Finally, Stifel Nicolaus upped their target price on S&P Global from $231.00 to $274.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $252.23.
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).
Featured Story: What is a support level?
Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc (NYSE:SPGI).
Receive News & Ratings for S&P Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&P Global and related companies with MarketBeat.com's FREE daily email newsletter.