Harvest Fund Management Co. Ltd Has $297,000 Stake in S&P Global Inc. (NYSE:SPGI)

Key Points

• Harvest Fund Management Co. Ltd significantly increased its stake in S&P Global Inc. by 2,685.7% during the first quarter, owning 585 shares now valued at approximately $297,000.
• Other institutional investors also made substantial adjustments, with GAMMA Investing LLC raising its holdings by 60,982.3% and owning over 2.1 million shares worth $1.09 billion.
• S&P Global reported a quarterly EPS of $4.37, exceeding expectations, with a net margin of 27.27% and revenue up 8.2% year-over-year.

Harvest Fund Management Co. Ltd grew its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 2,685.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 585 shares of the business services provider's stock after purchasing an additional 564 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in S&P Global were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Minot DeBlois Advisors LLC bought a new stake in S&P Global during the fourth quarter worth about $25,000. Anderson Financial Strategies LLC purchased a new stake in shares of S&P Global during the 4th quarter valued at $27,000. Smallwood Wealth Investment Management LLC bought a new position in S&P Global in the 1st quarter worth about $28,000. CBIZ Investment Advisory Services LLC boosted its position in shares of S&P Global by 103.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in S&P Global in the 1st quarter worth approximately $33,000. Institutional investors own 87.17% of the company's stock.

Insider Transactions at S&P Global

In other S&P Global news, EVP Sally Moore sold 500 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $510.43, for a total value of $255,215.00. Following the sale, the executive vice president owned 5,131 shares in the company, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

S&P Global Price Performance

Shares of NYSE:SPGI traded down $6.24 during trading on Friday, hitting $544.86. 1,885,503 shares of the stock were exchanged, compared to its average volume of 966,738. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $558.86. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $520.65 and a two-hundred day moving average price of $509.07. The company has a market cap of $167.11 billion, a PE ratio of 41.91, a P/E/G ratio of 2.66 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.04 EPS. On average, analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. S&P Global's dividend payout ratio (DPR) is currently 30.16%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird reduced their price target on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. UBS Group increased their target price on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Stifel Nicolaus lowered their price objective on S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Barclays lifted their target price on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, S&P Global presently has a consensus rating of "Moderate Buy" and an average price target of $611.69.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.