AGF Management Ltd. Raises Stock Holdings in S&P Global Inc. (NYSE:SPGI)

AGF Management Ltd. increased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,518 shares of the business services provider’s stock after purchasing an additional 687 shares during the quarter. AGF Management Ltd.’s holdings in S&P Global were worth $15,395,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Artisan Partners Limited Partnership lifted its stake in shares of S&P Global by 15.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,403,726 shares of the business services provider’s stock worth $618,369,000 after purchasing an additional 190,758 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of S&P Global by 107.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock worth $2,798,000 after purchasing an additional 2,962 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of S&P Global by 1.1% during the 4th quarter. Stifel Financial Corp now owns 475,930 shares of the business services provider’s stock worth $209,670,000 after purchasing an additional 5,087 shares during the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new stake in shares of S&P Global during the 1st quarter worth $1,222,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of S&P Global during the 1st quarter worth $2,236,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group increased their price target on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. BMO Capital Markets increased their price target on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Oppenheimer increased their price target on S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays increased their price target on S&P Global from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company upgraded S&P Global to a “strong-buy” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $535.25.

Insider Buying and Selling at S&P Global

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, the insider now directly owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, the insider now directly owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,862 shares of company stock valued at $8,645,727. Company insiders own 0.10% of the company’s stock.

S&P Global Stock Down 0.8 %

S&P Global stock opened at $515.81 on Thursday. The firm has a market cap of $161.40 billion, a price-to-earnings ratio of 57.83, a price-to-earnings-growth ratio of 2.65 and a beta of 1.17. S&P Global Inc. has a 52 week low of $340.49 and a 52 week high of $521.50. The business’s 50-day moving average price is $490.75 and its 200 day moving average price is $450.52. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.67 by $0.37. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. S&P Global’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $3.12 earnings per share. As a group, sell-side analysts anticipate that S&P Global Inc. will post 14.58 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.71%. The ex-dividend date was Tuesday, August 27th. S&P Global’s dividend payout ratio (DPR) is 40.81%.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.