Penobscot Investment Management Company Inc. raised its holdings in shares of S&P Global Inc (NYSE:SPGI) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,800 shares of the business services provider’s stock after buying an additional 460 shares during the period. Penobscot Investment Management Company Inc.’s holdings in S&P Global were worth $5,340,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Julex Capital Management LLC purchased a new stake in S&P Global during the third quarter valued at about $25,000. River & Mercantile Asset Management LLP bought a new position in shares of S&P Global during the second quarter valued at about $25,000. Krane Funds Advisors LLC bought a new position in shares of S&P Global during the second quarter valued at about $25,000. Coastal Investment Advisors Inc. raised its stake in shares of S&P Global by 409.1% during the second quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 90 shares during the last quarter. Finally, Coastal Capital Group Inc. bought a new position in shares of S&P Global during the second quarter valued at about $27,000. Institutional investors and hedge funds own 82.69% of the company’s stock.
In other S&P Global news, CEO Alexander Matturri, Jr. sold 1,007 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $254.46, for a total transaction of $256,241.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas L. Peterson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $254.83, for a total transaction of $1,528,980.00. Following the transaction, the chief executive officer now directly owns 163,731 shares of the company’s stock, valued at approximately $41,723,570.73. The disclosure for this sale can be found here. Insiders have sold 11,986 shares of company stock valued at $3,063,427 in the last ninety days. Insiders own 0.20% of the company’s stock.
Several equities analysts have recently commented on SPGI shares. Cantor Fitzgerald upped their price objective on shares of S&P Global from $244.00 to $294.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. William Blair reaffirmed an “outperform” rating on shares of S&P Global in a research note on Wednesday, October 30th. Edward Jones assumed coverage on shares of S&P Global in a research note on Wednesday, September 11th. They set a “buy” rating for the company. BMO Capital Markets increased their price target on shares of S&P Global to $266.00 in a research note on Wednesday, October 30th. Finally, Argus increased their price target on shares of S&P Global to $290.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. S&P Global has an average rating of “Buy” and a consensus target price of $264.42.
SPGI stock traded down $0.29 during trading on Monday, reaching $255.01. The company had a trading volume of 37,355 shares, compared to its average volume of 1,201,194. S&P Global Inc has a 52 week low of $156.68 and a 52 week high of $269.57. The company has a market cap of $61.39 billion, a P/E ratio of 30.00, a PEG ratio of 2.68 and a beta of 1.07. The business has a 50 day moving average of $250.42 and a 200 day moving average of $239.49. The company has a debt-to-equity ratio of 8.91, a current ratio of 1.10 and a quick ratio of 1.10.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $2.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.12. S&P Global had a net margin of 32.22% and a return on equity of 448.14%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned $2.11 earnings per share. S&P Global’s revenue was up 9.2% on a year-over-year basis. Research analysts expect that S&P Global Inc will post 9.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, November 25th. S&P Global’s dividend payout ratio is 26.82%.
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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