Hilltop Holdings Inc. lessened its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 92.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 908 shares of the business services provider's stock after selling 11,628 shares during the period. Hilltop Holdings Inc.'s holdings in S&P Global were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the business. Morningstar Investment Management LLC raised its position in shares of S&P Global by 41.5% in the first quarter. Morningstar Investment Management LLC now owns 11,603 shares of the business services provider's stock valued at $4,935,000 after purchasing an additional 3,401 shares during the period. GC Wealth Management RIA LLC boosted its holdings in shares of S&P Global by 4.7% during the 1st quarter. GC Wealth Management RIA LLC now owns 5,566 shares of the business services provider's stock worth $2,367,000 after buying an additional 250 shares during the period. Modern Wealth Management LLC grew its stake in S&P Global by 13.9% in the 1st quarter. Modern Wealth Management LLC now owns 1,652 shares of the business services provider's stock valued at $702,000 after buying an additional 202 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in S&P Global by 22,716.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 376,009 shares of the business services provider's stock valued at $159,932,000 after buying an additional 374,361 shares during the last quarter. Finally, Caxton Associates LLP bought a new position in S&P Global in the 1st quarter valued at about $2,994,000. Institutional investors and hedge funds own 87.17% of the company's stock.
S&P Global Price Performance
Shares of S&P Global stock opened at $439.25 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $130.02 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. S&P Global Inc. has a twelve month low of $381.61 and a twelve month high of $579.05. The company has a 50-day simple moving average of $423.71 and a two-hundred day simple moving average of $440.76.
S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $4.97 EPS for the quarter, beating analysts' consensus estimates of $4.82 by $0.15. The company had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.08 billion. S&P Global had a return on equity of 17.26% and a net margin of 30.37%.S&P Global's revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.37 EPS. Analysts forecast that S&P Global Inc. will post 18.37 EPS for the current year.
S&P Global Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a $0.97 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 annualized dividend and a yield of 0.9%. S&P Global's dividend payout ratio (DPR) is currently 24.56%.
Insider Activity
In other S&P Global news, CEO Catherine R. Clay acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $431.39 per share, for a total transaction of $1,078,475.00. Following the acquisition, the chief executive officer directly owned 2,500 shares in the company, valued at $1,078,475. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Martina Cheung acquired 2,322 shares of the company's stock in a transaction that occurred on Wednesday, April 29th. The stock was acquired at an average price of $429.93 per share, with a total value of $998,297.46. Following the acquisition, the chief executive officer owned 27,518 shares in the company, valued at $11,830,813.74. The trade was a 9.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 5,974 shares of company stock valued at $2,576,775. 0.03% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have issued reports on SPGI. UBS Group cut their price objective on shares of S&P Global from $550.00 to $525.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Bank of America decreased their target price on S&P Global from $575.00 to $550.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Jefferies Financial Group increased their target price on S&P Global from $500.00 to $535.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Royal Bank Of Canada dropped their price target on S&P Global from $560.00 to $510.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. Finally, Barclays reduced their price target on S&P Global from $565.00 to $555.00 and set an "overweight" rating for the company in a research note on Tuesday, July 7th. Eighteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, S&P Global presently has a consensus rating of "Moderate Buy" and an average target price of $533.59.
Read Our Latest Research Report on S&P Global
About S&P Global
(
Free Report)
S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.
S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.
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