Congress Asset Management Co. MA Sells 863 Shares of S&P Global Inc. (NYSE:SPGI)

Congress Asset Management Co. MA decreased its position in S&P Global Inc. (NYSE:SPGI) by 17.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,107 shares of the business services provider’s stock after selling 863 shares during the period. Congress Asset Management Co. MA’s holdings in S&P Global were worth $600,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPGI. BlackRock Inc. raised its stake in shares of S&P Global by 1,866.9% in the first quarter. BlackRock Inc. now owns 15,452,706 shares of the business services provider’s stock worth $2,020,285,000 after buying an additional 14,667,076 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of S&P Global during the first quarter worth about $170,025,000. Swedbank acquired a new stake in S&P Global during the first quarter valued at $101,025,000. Vanguard Group Inc. raised its stake in S&P Global by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,395,347 shares of the business services provider’s stock valued at $2,535,747,000 after buying an additional 740,631 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in S&P Global during the first quarter valued at $87,138,000. 84.35% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Inc. (SPGI) opened at 150.10 on Friday. The firm has a market cap of $38.58 billion, a P/E ratio of 17.49 and a beta of 1.52. The stock has a 50 day moving average price of $150.57 and a 200-day moving average price of $138.54. S&P Global Inc. has a one year low of $107.21 and a one year high of $158.35.

S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, July 27th. The business services provider reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.15. S&P Global had a return on equity of 202.37% and a net margin of 38.78%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts predict that S&P Global Inc. will post $6.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, August 24th. S&P Global’s payout ratio is 19.16%.

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SPGI has been the subject of several recent research reports. Zacks Investment Research upgraded shares of S&P Global from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research note on Monday, July 17th. Cantor Fitzgerald restated an “overweight” rating and set a $153.00 price target (up previously from $139.00) on shares of S&P Global in a research report on Wednesday, April 26th. Barclays PLC upped their price target on shares of S&P Global from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 28th. Argus reaffirmed a “buy” rating and issued a $158.00 price objective (up previously from $150.00) on shares of S&P Global in a report on Monday, May 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $146.00 price objective (up previously from $145.00) on shares of S&P Global in a report on Friday, July 14th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $153.73.

In other S&P Global news, Director Marco Alvera purchased 400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average cost of $140.09 per share, with a total value of $56,036.00. Following the completion of the transaction, the director now owns 400 shares of the company’s stock, valued at approximately $56,036. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

About S&P Global

S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.

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

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