S&P Global Inc (NYSE:SPGI) Shares Sold by Provident Investment Management Inc.

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Provident Investment Management Inc. trimmed its stake in shares of S&P Global Inc (NYSE:SPGI) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,112 shares of the business services provider’s stock after selling 3,069 shares during the quarter. S&P Global comprises 5.6% of Provident Investment Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Provident Investment Management Inc. owned 0.07% of S&P Global worth $38,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BB&T Securities LLC raised its stake in shares of S&P Global by 10.4% during the 2nd quarter. BB&T Securities LLC now owns 14,324 shares of the business services provider’s stock worth $3,262,000 after buying an additional 1,345 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of S&P Global by 1.0% during the 2nd quarter. Alps Advisors Inc. now owns 7,938 shares of the business services provider’s stock worth $1,808,000 after buying an additional 77 shares in the last quarter. Granite Investment Partners LLC raised its stake in shares of S&P Global by 3.6% during the 2nd quarter. Granite Investment Partners LLC now owns 87,374 shares of the business services provider’s stock worth $19,903,000 after buying an additional 3,054 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of S&P Global by 41.8% during the 2nd quarter. Janus Henderson Group PLC now owns 819,772 shares of the business services provider’s stock worth $186,753,000 after buying an additional 241,848 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of S&P Global by 16.4% during the 2nd quarter. LS Investment Advisors LLC now owns 25,735 shares of the business services provider’s stock worth $5,862,000 after buying an additional 3,619 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

In related news, CEO Alexander Matturri, Jr. sold 1,007 shares of S&P Global stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $230.44, for a total value of $232,053.08. Following the transaction, the chief executive officer now owns 18,723 shares in the company, valued at $4,314,528.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Cafferillo sold 9,911 shares of S&P Global stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $252.95, for a total value of $2,506,987.45. Following the completion of the transaction, the insider now owns 7,454 shares in the company, valued at approximately $1,885,489.30. The disclosure for this sale can be found here. Insiders have sold 23,425 shares of company stock worth $5,898,602 in the last 90 days. Insiders own 0.20% of the company’s stock.

Several research firms recently weighed in on SPGI. Raymond James raised their price objective on S&P Global from $246.00 to $272.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. UBS Group raised their price objective on S&P Global from $252.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley raised their price objective on S&P Global from $254.00 to $262.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. began coverage on S&P Global in a research note on Wednesday, July 10th. They issued an “overweight” rating and a $260.00 price objective for the company. Finally, Cantor Fitzgerald raised their price objective on S&P Global from $244.00 to $294.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $252.23.

Shares of SPGI stock traded up $0.64 during mid-day trading on Tuesday, hitting $257.84. 36,314 shares of the company’s stock were exchanged, compared to its average volume of 1,438,860. S&P Global Inc has a fifty-two week low of $156.68 and a fifty-two week high of $266.22. The stock has a 50-day simple moving average of $248.39 and a two-hundred day simple moving average of $221.95. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 7.52. The stock has a market cap of $63.31 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 2.79 and a beta of 1.08.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.15. S&P Global had a return on equity of 341.54% and a net margin of 31.02%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. As a group, analysts anticipate that S&P Global Inc will post 9.21 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, August 26th. S&P Global’s dividend payout ratio (DPR) is 26.82%.

About S&P Global

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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Institutional Ownership by Quarter for S&P Global (NYSE:SPGI)

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