S&P Global Inc. (SPGI) Stake Boosted by Cigna Investments Inc. New
Cigna Investments Inc. New raised its stake in S&P Global Inc. (NYSE:SPGI) by 11.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 12,059 shares of the business services provider’s stock after buying an additional 1,259 shares during the period. Cigna Investments Inc. New’s holdings in S&P Global were worth $1,760,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in 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 last quarter. Marshall Wace North America L.P. acquired a new position in S&P Global during the first quarter valued at about $170,025,000. Swedbank acquired a new position in S&P Global during the first quarter valued at about $101,025,000. Vanguard Group Inc. boosted its position in 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 last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in S&P Global during the first quarter valued at about $87,138,000. 85.62% of the stock is owned by institutional investors.
S&P Global Inc. (NYSE:SPGI) opened at 148.28 on Wednesday. The company’s 50-day moving average price is $149.67 and its 200 day moving average price is $136.21. The company has a market cap 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.
S&P Global (NYSE:SPGI) last released its earnings results on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.46 billion. S&P Global had a return on equity of 202.37% and a net margin of 38.78%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS. On average, analysts anticipate that S&P Global Inc. will post $6.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be paid a $0.41 dividend. The ex-dividend date is Thursday, August 24th. This represents a $1.64 annualized dividend and a dividend yield of 1.11%. S&P Global’s dividend payout ratio (DPR) is currently 19.16%.
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SPGI has been the subject of several recent analyst reports. Raymond James Financial, Inc. raised S&P Global from a “market perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note 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 target for the company in a research note on Tuesday, April 11th. Cantor Fitzgerald reissued 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. Barclays PLC increased their price target on S&P Global from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 28th. Finally, Argus reissued a “buy” rating and issued a $158.00 price target (up previously from $150.00) on shares of S&P Global in a research note on Monday, May 29th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. S&P Global has a consensus rating of “Buy” and an average price target of $153.82.
In other news, Director Marco Alvera bought 400 shares of the stock in a transaction dated Tuesday, May 30th. The stock was bought at an average cost of $140.09 per share, with a total value of $56,036.00. Following the purchase, the director now owns 400 shares of the company’s stock, valued at $56,036. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company 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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