Oppenheimer Asset Management Inc. Increases Holdings in S&P Global Inc. (NYSE:SPGI)

Oppenheimer Asset Management Inc. raised its stake in shares of S&P Global Inc. (NYSE:SPGI) by 41.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 64,945 shares of the business services provider’s stock after purchasing an additional 18,897 shares during the period. Oppenheimer Asset Management Inc.’s holdings in S&P Global were worth $28,965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Artisan Partners Limited Partnership increased its holdings in shares of S&P Global by 15.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,403,726 shares of the business services provider’s stock worth $618,369,000 after purchasing an additional 190,758 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of 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 in the last quarter. Stifel Financial Corp increased its position 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 worth $209,670,000 after purchasing an additional 5,087 shares during the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new stake in S&P Global during the first quarter valued at $1,222,000. Finally, Quadrature Capital Ltd bought a new position in S&P Global during the first quarter valued at $2,236,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Insider Activity

In other news, EVP Steven J. Kemps sold 2,700 shares of the 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 transaction, the executive vice president now directly owns 1,455 shares in the company, valued at $715,205.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the business’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 transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the firm’s 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 completion of the sale, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by corporate insiders.

S&P Global Stock Down 0.1 %

Shares of NYSE:SPGI opened at $519.45 on Friday. The business’s 50 day moving average is $493.49 and its 200 day moving average is $451.60. The stock has a market cap of $162.59 billion, a P/E ratio of 58.23, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $524.14. 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 posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.12 EPS. Sell-side analysts predict that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Tuesday, August 27th. S&P Global’s dividend payout ratio (DPR) is 40.81%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target 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. Stifel Nicolaus lifted their target price on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Oppenheimer raised their price target on S&P Global from $486.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Morgan Stanley lifted their price target on shares of S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, S&P Global presently has an average rating of “Moderate Buy” and an average target price of $540.25.

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.