S&P Global Inc. (NYSE:SPGI) Shares Acquired by NorthCrest Asset Manangement LLC

Posted by Defense World Staff on Jul 12th, 2023

NorthCrest Asset Manangement LLC grew its position in S&P Global Inc. (NYSE:SPGI – Free Report) by 65.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,060 shares of the business services provider’s stock after purchasing an additional 813 shares during the period. NorthCrest Asset Manangement LLC’s holdings in S&P Global were worth $710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Morgan Stanley grew its holdings in S&P Global by 49.9% during the fourth quarter. Morgan Stanley now owns 4,318,418 shares of the business services provider’s stock worth $1,446,412,000 after acquiring an additional 1,437,116 shares during the period. Price T Rowe Associates Inc. MD boosted its position in S&P Global by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,746,173 shares of the business services provider’s stock worth $1,254,744,000 after purchasing an additional 108,404 shares in the last quarter. Northern Trust Corp boosted its position in S&P Global by 39.5% during the first quarter. Northern Trust Corp now owns 3,727,874 shares of the business services provider’s stock worth $1,529,100,000 after purchasing an additional 1,056,097 shares in the last quarter. Norges Bank purchased a new position in S&P Global during the fourth quarter worth approximately $1,112,935,000. Finally, Jennison Associates LLC boosted its position in S&P Global by 8.8% during the fourth quarter. Jennison Associates LLC now owns 2,538,387 shares of the business services provider’s stock worth $850,207,000 after purchasing an additional 205,103 shares in the last quarter. 87.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Saugata Saha sold 200 shares of S&P Global stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $386.27, for a total value of $77,254.00. Following the completion of the sale, the insider now directly owns 3,134 shares of the company’s stock, valued at $1,210,570.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Saugata Saha sold 200 shares of S&P Global stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $386.27, for a total value of $77,254.00. Following the completion of the sale, the insider now directly owns 3,134 shares of the company’s stock, valued at $1,210,570.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas L. Peterson sold 7,500 shares of S&P Global stock in a transaction on Monday, May 15th. The shares were sold at an average price of $358.96, for a total value of $2,692,200.00. Following the completion of the sale, the chief executive officer now directly owns 163,770 shares of the company’s stock, valued at $58,786,879.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,841 shares of company stock valued at $6,105,979. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com assumed coverage on S&P Global in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Bank of America began coverage on S&P Global in a research report on Thursday, June 15th. They set a “buy” rating on the stock. Oppenheimer raised their target price on S&P Global from $403.00 to $405.00 and gave the company an “outperform” rating in a research report on Tuesday, April 4th. Finally, Wells Fargo & Company began coverage on S&P Global in a research report on Tuesday, May 9th. They issued an “overweight” rating and a $415.00 target price on the stock. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $395.00.

S&P Global Price Performance

SPGI stock opened at $396.37 on Wednesday. The business has a fifty day moving average of $377.24 and a two-hundred day moving average of $359.71. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.29. The stock has a market cap of $127.63 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. S&P Global Inc. has a 52-week low of $279.32 and a 52-week high of $405.65.

S&P Global (NYSE:SPGI – Get Free Report) last posted its earnings results on Thursday, April 27th. The business services provider reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.23. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.06 billion. S&P Global had a return on equity of 10.06% and a net margin of 23.50%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.89 earnings per share. As a group, research analysts anticipate that S&P Global Inc. will post 12.52 earnings per share for the current year.

S&P Global Dividend Announcement

The company 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 $0.90 dividend. The ex-dividend date is Friday, August 25th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.91%. S&P Global’s payout ratio is presently 42.35%.

S&P Global Company Profile

(Free Report)

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through six segments: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.