Candriam Luxembourg S.C.A. Lowers Stake in S&P Global Inc. (SPGI)
Candriam Luxembourg S.C.A. lowered its stake in S&P Global Inc. (NYSE:SPGI) by 23.6% during the second quarter, Holdings Channel reports. The firm owned 22,432 shares of the business services provider’s stock after selling 6,912 shares during the period. Candriam Luxembourg S.C.A.’s holdings in S&P Global were worth $3,275,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of S&P Global by 1,866.9% in the first quarter. BlackRock Inc. now owns 15,452,706 shares of the business services provider’s stock valued at $2,020,285,000 after buying an additional 14,667,076 shares during the period. Marshall Wace North America L.P. bought a new position in shares of S&P Global during the first quarter valued at about $170,025,000. Swedbank bought a new position in shares of S&P Global during the first quarter valued at about $101,025,000. Vanguard Group Inc. increased its position in shares of S&P Global by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,395,347 shares of the business services provider’s stock valued at $2,535,747,000 after buying an additional 740,631 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in shares of S&P Global during the first quarter valued at about $87,138,000. Institutional investors and hedge funds own 85.62% of the company’s stock.
Shares of S&P Global Inc. (SPGI) opened at 148.28 on Wednesday. The company has a market capitalization of $38.11 billion, a PE ratio of 17.28 and a beta of 1.52. S&P Global Inc. has a 52 week low of $107.21 and a 52 week high of $158.35. The stock has a 50 day moving average price of $149.67 and a 200-day moving average price of $136.21.
S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.46 billion. S&P Global had a return on equity of 202.37% and a net margin of 38.78%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 earnings per share. Equities research analysts expect that S&P Global Inc. will post $6.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, August 24th. S&P Global’s dividend payout ratio is currently 19.16%.
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SPGI has been the topic of several research reports. Raymond James Financial, Inc. upgraded 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 report on Monday, April 17th. Zacks Investment Research raised S&P Global from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Tuesday, April 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $153.00 price objective (up from $139.00) on shares of S&P Global in a report on Wednesday, April 26th. Barclays PLC boosted their price objective on S&P Global from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, June 28th. Finally, Argus reissued a “buy” rating and set a $158.00 price objective (up from $150.00) on shares of S&P Global in a report on Monday, May 29th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. S&P Global currently has an average rating of “Buy” and a consensus price target of $153.82.
In related news, Director Marco Alvera acquired 400 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought 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 directly owns 400 shares in the company, valued at $56,036. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by 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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