1832 Asset Management L.P. Lowers Holdings in S&P Global Inc. (NYSE:SPGI)

1832 Asset Management L.P. trimmed its stake in shares of S&P Global Inc. (NYSE:SPGI) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,100 shares of the business services provider’s stock after selling 8,258 shares during the period. 1832 Asset Management L.P.’s holdings in S&P Global were worth $32,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Artisan Partners Limited Partnership boosted 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 acquiring an additional 190,758 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in S&P Global by 107.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after purchasing an additional 2,962 shares during the period. Stifel Financial Corp grew its holdings in S&P Global by 1.1% in the fourth quarter. Stifel Financial Corp now owns 475,930 shares of the business services provider’s stock valued at $209,670,000 after purchasing an additional 5,087 shares during the period. AAFMAA Wealth Management & Trust LLC purchased a new stake in shares of S&P Global in the first quarter valued at approximately $1,222,000. Finally, Quadrature Capital Ltd acquired a new position in shares of S&P Global during the 1st quarter worth approximately $2,236,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Down 0.5 %

Shares of NYSE:SPGI opened at $520.85 on Tuesday. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $528.02. The stock has a market cap of $162.97 billion, a P/E ratio of 58.39, a PEG ratio of 2.68 and a beta of 1.17. The business has a fifty day moving average of $499.93 and a two-hundred day moving average of $456.01. 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 announced its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the firm posted $3.12 earnings per share. S&P Global’s quarterly revenue was up 14.4% on a year-over-year basis. On average, research analysts expect that S&P Global Inc. will post 14.58 earnings per share for the current year.

Analyst Ratings Changes

SPGI has been the subject of several recent analyst reports. Bank of America boosted their price target on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. UBS Group boosted their target price on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Oppenheimer increased their target price on S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Three equities research 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 stock. According to MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and an average price target of $548.18.

Insider Activity

In other news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at $715,205.25. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock valued at $8,645,727 in the last 90 days. 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.