Dock Street Asset Management Inc. boosted its stake in shares of S&P Global Inc. (NYSE:SPGI) by 35.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 53,068 shares of the business services provider’s stock after buying an additional 13,763 shares during the period. S&P Global accounts for approximately 3.6% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 11th largest position. Dock Street Asset Management Inc.’s holdings in S&P Global were worth $7,747,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Koch Industries Inc. purchased a new position in S&P Global during the first quarter valued at about $365,000. Schwab Charles Investment Management Inc. boosted its position in S&P Global by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 815,937 shares of the business services provider’s stock valued at $106,676,000 after buying an additional 38,665 shares in the last quarter. Bridgewater Associates LP purchased a new position in S&P Global during the first quarter valued at about $3,860,000. Israel Discount Bank of New York purchased a new position in S&P Global during the first quarter valued at about $222,000. Finally, Henderson Group PLC boosted its position in S&P Global by 1.2% in the first quarter. Henderson Group PLC now owns 35,023 shares of the business services provider’s stock valued at $4,579,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 84.35% of the company’s stock.
Shares of S&P Global Inc. (SPGI) traded up 0.09% during midday trading on Friday, reaching $150.10. The company had a trading volume of 1,615,666 shares. The stock’s 50 day moving average is $150.57 and its 200-day moving average is $138.54. The stock has a market capitalization of $38.58 billion, a PE ratio of 17.49 and a beta of 1.52. S&P Global Inc. has a 12-month low of $107.21 and a 12-month high of $158.35.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, August 24th. S&P Global’s dividend payout ratio (DPR) is presently 19.16%.
A number of brokerages have issued reports on SPGI. BMO Capital Markets raised their target price on S&P Global from $152.00 to $161.00 and gave the stock a “no rating at time” rating in a report on Friday, July 14th. Cantor Fitzgerald restated an “overweight” rating and set a $153.00 target price (up previously from $139.00) on shares of S&P Global in a report on Wednesday, April 26th. Zacks Investment Research cut S&P Global from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Argus reaffirmed a “buy” rating and set a $158.00 price target (up previously from $150.00) on shares of S&P Global in a research report on Monday, May 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $146.00 price target (up previously from $145.00) on shares of S&P Global in a research report on Friday, July 14th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $153.73.
In related news, Director Marco Alvera acquired 400 shares of the stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average cost of $140.09 per share, with a total value of $56,036.00. Following the completion of the purchase, the director now directly owns 400 shares in the company, valued at approximately $56,036. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
S&P Global Company Profile
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.
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