Wedge Capital Management L L P NC reduced its holdings in S&P Global Inc (NYSE:SPGI) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,892 shares of the business services provider’s stock after selling 12,645 shares during the quarter. Wedge Capital Management L L P NC’s holdings in S&P Global were worth $31,644,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SPGI. Julex Capital Management LLC acquired a new stake in S&P Global during the 3rd quarter worth about $25,000. River & Mercantile Asset Management LLP purchased a new position in shares of S&P Global in the second quarter worth approximately $25,000. Evoke Wealth LLC acquired a new stake in shares of S&P Global during the third quarter valued at approximately $37,000. Harvest Group Wealth Management LLC raised its holdings in shares of S&P Global by 51.7% during the third quarter. Harvest Group Wealth Management LLC now owns 182 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 62 shares during the period. Finally, Matthew Goff Investment Advisor LLC acquired a new stake in shares of S&P Global during the third quarter valued at approximately $836,000. 82.60% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of S&P Global in a research note on Thursday, November 21st. They issued a “buy” rating and a $298.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of S&P Global to $266.00 in a research report on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of S&P Global in a research note on Wednesday, October 30th. Morgan Stanley upgraded S&P Global from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $271.00 to $323.00 in a report on Tuesday, January 7th. Finally, ValuEngine cut S&P Global from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $276.27.
S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, October 29th. The business services provider reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.12. S&P Global had a net margin of 32.22% and a return on equity of 448.14%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm earned $2.11 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. Equities analysts anticipate that S&P Global Inc will post 9.4 EPS for the current fiscal year.
In other news, CEO Alexander Matturri, Jr. sold 1,098 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $262.10, for a total transaction of $287,785.80. Following the completion of the sale, the chief executive officer now directly owns 20,465 shares of the company’s stock, valued at approximately $5,363,876.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Nicholas Cafferillo sold 3,219 shares of S&P Global stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $257.90, for a total value of $830,180.10. Following the sale, the chief technology officer now owns 2,707 shares of the company’s stock, valued at $698,135.30. The disclosure for this sale can be found here. Insiders sold 6,077 shares of company stock worth $1,565,992 over the last ninety days. 0.20% of the stock is currently owned by company insiders.
S&P Global Company Profile
S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).
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