Absoluto Partners Gestao de Recursos Ltda Acquires 79 Shares of S&P Global Inc. (NYSE:SPGI)

Absoluto Partners Gestao de Recursos Ltda increased its holdings in S&P Global Inc. (NYSE:SPGI) by 1.3% in the second quarter, Holdings Channel reports. The institutional investor owned 6,249 shares of the business services provider’s stock after buying an additional 79 shares during the period. S&P Global makes up 1.9% of Absoluto Partners Gestao de Recursos Ltda’s holdings, making the stock its 8th largest holding. Absoluto Partners Gestao de Recursos Ltda’s holdings in S&P Global were worth $3,029,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Sapient Capital LLC raised its holdings in S&P Global by 2.5% in the 2nd quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 21 shares in the last quarter. Chatham Capital Group Inc. increased its position in shares of S&P Global by 0.5% in the second quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock worth $2,007,000 after purchasing an additional 21 shares during the period. D.B. Root & Company LLC increased its position in shares of S&P Global by 2.4% in the second quarter. D.B. Root & Company LLC now owns 955 shares of the business services provider’s stock worth $426,000 after purchasing an additional 22 shares during the period. Modera Wealth Management LLC raised its stake in S&P Global by 2.3% in the second quarter. Modera Wealth Management LLC now owns 960 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 22 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in S&P Global by 1.0% during the second quarter. Foundations Investment Advisors LLC now owns 2,133 shares of the business services provider’s stock worth $951,000 after purchasing an additional 22 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SPGI shares. Royal Bank of Canada raised their target price on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Stifel Nicolaus upped their target price on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upgraded S&P Global to a “strong-buy” rating in a research note on Tuesday, August 13th. UBS Group upped their price objective on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley lifted their target price on S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $548.18.

S&P Global Stock Performance

NYSE:SPGI opened at $518.11 on Wednesday. The stock’s 50-day moving average is $500.51 and its 200-day moving average is $456.64. The stock has a market cap of $162.17 billion, a P/E ratio of 58.08, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. S&P Global Inc. has a 1-year low of $340.49 and a 1-year high of $528.02. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.12 EPS. Equities research analysts anticipate that S&P Global Inc. will post 14.57 earnings per share for the current year.

Insider Transactions at S&P Global

In related news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the transaction, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Steven J. Kemps sold 2,700 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 transaction of $1,327,185.00. Following the completion of the sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at $715,205.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the business’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 transaction, 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. In the last 90 days, insiders have sold 17,862 shares of company stock worth $8,645,727. Company insiders own 0.10% of the company’s stock.

S&P Global Company Profile

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.