Quadrant Capital Group LLC Takes Position in S&P Global Inc. (SPGI)
Quadrant Capital Group LLC acquired a new stake in shares of S&P Global Inc. (NYSE:SPGI) during the second quarter, Holdings Channel reports. The fund acquired 1,422 shares of the company’s stock, valued at approximately $146,000.
Several other hedge funds also recently made changes to their positions in SPGI. Diligent Investors LLC bought a new stake in shares of S&P Global during the second quarter valued at approximately $1,926,000. Emerald Advisers Inc. PA bought a new stake in shares of S&P Global during the second quarter valued at approximately $3,464,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of S&P Global during the second quarter valued at approximately $272,000. ING Groep NV bought a new stake in shares of S&P Global during the second quarter valued at approximately $4,604,000. Finally, Comgest Global Investors S.A.S. bought a new stake in shares of S&P Global during the second quarter valued at approximately $1,073,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.
S&P Global Inc. (NYSE:SPGI) traded down 0.94% during trading on Friday, reaching $123.86. 754,808 shares of the company’s stock traded hands. The company has a 50-day moving average of $123.91 and a 200 day moving average of $112.21. S&P Global Inc. has a 12 month low of $78.55 and a 12 month high of $128.40. The stock has a market capitalization of $32.70 billion, a P/E ratio of 28.41 and a beta of 1.28.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.34 by $0.10. The business earned $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. S&P Global had a net margin of 21.32% and a return on equity of 320.10%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, equities research analysts expect that S&P Global Inc. will post $5.20 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 26th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. S&P Global’s dividend payout ratio is currently 32.95%.
Several brokerages recently commented on SPGI. Zacks Investment Research upgraded shares of S&P Global from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research note on Wednesday. Barclays PLC upgraded shares of S&P Global from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $145.00 in a research note on Wednesday, September 21st. Macquarie began coverage on shares of S&P Global in a research note on Thursday, August 25th. They issued an “outperform” rating and a $140.00 price objective for the company. Cantor Fitzgerald reiterated a “buy” rating on shares of S&P Global in a research note on Friday, August 19th. Finally, Argus raised their price objective on shares of S&P Global from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $131.29.
In other news, insider Finbarr J. Oneill sold 36,674 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $120.97, for a total transaction of $4,436,453.78. Following the completion of the transaction, the insider now owns 50,772 shares in the company, valued at $6,141,888.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy Luquette sold 500 shares of the company’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $123.08, for a total transaction of $61,540.00. Following the transaction, the senior vice president now owns 133 shares of the company’s stock, valued at approximately $16,369.64. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
S&P Global Company Profile
S&P Global Inc, formerly McGraw Hill Financial, Inc, is a provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets across the world. The Company’s products cater to the capital markets, which includes asset managers, investment banks, commercial banks, exchanges and issuers; the commodities markets, which includes producers, traders and intermediaries within energy, metals, petrochemicals and agriculture, and the commercial markets, which includes professionals and corporate executives within automotive and marketing/research information services.
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