Farallon Capital Management LLC Sells 11,910 Shares of S&P Global Inc. (NYSE:SPGI)

Farallon Capital Management LLC decreased its stake in shares of S&P Global Inc. (NYSE:SPGI) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 781,934 shares of the business services provider’s stock after selling 11,910 shares during the period. S&P Global accounts for about 1.6% of Farallon Capital Management LLC’s portfolio, making the stock its 18th largest holding. Farallon Capital Management LLC owned 0.25% of S&P Global worth $348,743,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC acquired a new position in S&P Global in the fourth quarter valued at $26,000. Sachetta LLC boosted its stake in S&P Global by 103.4% in the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 30 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in S&P Global during the second quarter valued at about $31,000. First Pacific Financial lifted its holdings in S&P Global by 49.0% during the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock worth $33,000 after purchasing an additional 24 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of S&P Global in the second quarter worth $36,000. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance

S&P Global stock opened at $520.85 on Tuesday. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $528.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $162.97 billion, a P/E ratio of 58.39, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. The firm’s 50 day simple moving average is $499.93 and its 200-day simple moving average is $456.01.

S&P Global (NYSE:SPGI) last issued 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 business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations 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 was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.12 earnings per share. As a group, equities research analysts predict that S&P Global Inc. will post 14.58 EPS for the current year.

Insider Activity

In related news, 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 transaction of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock worth $8,645,727 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPGI. Bank of America lifted their price target on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Stifel Nicolaus lifted their price objective on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Oppenheimer upped their price objective on S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $548.18.

S&P Global 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.