Magnetar Financial LLC Has $1.02 Million Holdings in S&P Global Inc. (NYSE:SPGI)

Magnetar Financial LLC lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 77.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,288 shares of the business services provider’s stock after selling 7,779 shares during the period. Magnetar Financial LLC’s holdings in S&P Global were worth $1,020,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SPGI. Sachetta LLC lifted its holdings 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 buying an additional 30 shares during the period. Pineridge Advisors LLC acquired a new position in S&P Global in the fourth quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in S&P Global in the second quarter valued at $31,000. First Pacific Financial lifted its holdings in S&P Global by 49.0% in the second quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after buying an additional 24 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in S&P Global in the second quarter valued at $36,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insiders Place Their Bets

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now directly owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now directly owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale 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 company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,862 shares of company stock valued at $8,645,727. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SPGI. Morgan Stanley upped their price objective on shares of S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Wells Fargo & Company upgraded shares of S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price objective on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. UBS Group upped their price objective on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Stifel Nicolaus upped their price objective on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $548.18.

S&P Global Trading Down 0.6 %

NYSE:SPGI opened at $518.11 on Wednesday. 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 firm has a 50-day moving average of $500.51 and a 200-day moving average of $456.64. The company has a market cap of $162.17 billion, a PE ratio of 58.08, a PEG ratio of 2.91 and a beta of 1.17. S&P Global Inc. has a one year low of $340.49 and a one year high of $528.02.

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 company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.12 earnings per share. As a group, equities research analysts expect that S&P Global Inc. will post 14.57 EPS for the current fiscal year.

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.