Bank of Montreal Can Has $24.95 Million Stake in S&P Global Inc. (SPGI)
Bank of Montreal Can cut its stake in shares of S&P Global Inc. (NYSE:SPGI) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,897 shares of the business services provider’s stock after selling 9,979 shares during the period. Bank of Montreal Can’s holdings in S&P Global were worth $24,950,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in shares of S&P Global during the first quarter valued at $101,000. American Beacon Advisors Inc. purchased a new stake in shares of S&P Global during the first quarter valued at $103,000. State of Alaska Department of Revenue purchased a new stake in shares of S&P Global during the first quarter valued at $125,000. Guardian Life Insurance Co. of America increased its stake in shares of 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 valued at $131,000 after buying an additional 10 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of S&P Global by 5.4% in the first quarter. Parallel Advisors LLC now owns 971 shares of the business services provider’s stock valued at $131,000 after buying an additional 50 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.
S&P Global Inc. (SPGI) opened at 149.51 on Tuesday. The firm’s 50-day moving average is $143.34 and its 200 day moving average is $129.50. S&P Global Inc. has a one year low of $107.21 and a one year high of $150.40. The company has a market capitalization of $38.54 billion, a PE ratio of 17.83 and a beta of 1.52.
S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, April 25th. The business services provider reported $1.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.23. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.37 billion. S&P Global had a net margin of 38.30% and a return on equity of 245.38%. S&P Global’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts expect that S&P Global Inc. will post $6.19 EPS for the current fiscal year.
The firm 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 dividend of $0.41 per share. The ex-dividend date is Thursday, August 24th. This represents a $1.64 dividend on an annualized basis and a yield of 1.10%. S&P Global’s dividend payout ratio (DPR) is presently 19.57%.
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Several research firms recently commented on SPGI. Zacks Investment Research raised shares of S&P Global from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $153.00 price target (up previously from $139.00) on shares of S&P Global in a research note on Wednesday, April 26th. BMO Capital Markets raised their price target on shares of S&P Global from $152.00 to $161.00 and gave the stock a “no rating at time” rating in a research note on Friday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $146.00 price target (up previously from $145.00) on shares of S&P Global in a research note on Friday. Finally, Raymond James Financial, Inc. raised shares of S&P Global from a “market perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Monday, April 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $151.40.
In other S&P Global news, Director Marco Alvera purchased 400 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $140.09 per share, for a total transaction of $56,036.00. Following the completion of the purchase, the director now directly owns 400 shares of the company’s stock, valued at $56,036. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.
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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