Select Equity Group L.P. Buys New Shares in S&P Global Inc. (NYSE:SPGI)

Select Equity Group L.P. bought a new stake in S&P Global Inc. (NYSE:SPGI) during the first quarter, HoldingsChannel reports. The firm bought 30,066 shares of the business services provider’s stock, valued at approximately $10,609,000.

Several other large investors also recently added to or reduced their stakes in the stock. Eaton Vance Management grew its holdings in S&P Global by 28.1% during the first quarter. Eaton Vance Management now owns 765,877 shares of the business services provider’s stock worth $270,254,000 after purchasing an additional 168,171 shares during the period. BSW Wealth Partners bought a new position in S&P Global during the first quarter worth about $207,000. Loomis Sayles & Co. L P grew its holdings in S&P Global by 21.0% during the first quarter. Loomis Sayles & Co. L P now owns 805,712 shares of the business services provider’s stock worth $284,311,000 after purchasing an additional 139,848 shares during the period. State of Wisconsin Investment Board grew its holdings in S&P Global by 25.0% during the first quarter. State of Wisconsin Investment Board now owns 230,012 shares of the business services provider’s stock worth $81,164,000 after purchasing an additional 46,028 shares during the period. Finally, Morgan Stanley grew its holdings in S&P Global by 0.7% during the first quarter. Morgan Stanley now owns 1,703,855 shares of the business services provider’s stock worth $601,241,000 after purchasing an additional 11,985 shares during the period. 87.89% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on the company. Robert W. Baird assumed coverage on S&P Global in a report on Tuesday, April 27th. They set an “outperform” rating and a $437.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on S&P Global from $435.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Raymond James boosted their price objective on S&P Global from $410.00 to $443.00 and gave the stock an “outperform” rating in a report on Wednesday, July 7th. Royal Bank of Canada assumed coverage on S&P Global in a research note on Wednesday, July 7th. They issued an “outperform” rating and a $476.00 price target for the company. Finally, Morgan Stanley boosted their price target on S&P Global from $460.00 to $476.00 and gave the company an “overweight” rating in a research note on Thursday, July 8th. Twelve research analysts have rated the stock with a buy rating, S&P Global has an average rating of “Buy” and an average target price of $435.25.

In other news, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction on Friday, May 14th. The shares were sold at an average price of $379.05, for a total transaction of $2,653,350.00. Following the completion of the transaction, the chief executive officer now directly owns 159,523 shares in the company, valued at $60,467,193.15. 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 currently owned by corporate insiders.

SPGI traded down $0.25 during trading on Thursday, hitting $416.81. 837 shares of the stock traded hands, compared to its average volume of 1,184,545. S&P Global Inc. has a twelve month low of $303.50 and a twelve month high of $420.62. The firm has a market cap of $100.41 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 3.25 and a beta of 0.97. The company has a debt-to-equity ratio of 3.74, a quick ratio of 1.85 and a current ratio of 1.85. The business’s 50 day moving average is $395.89.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, April 29th. The business services provider reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.26. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. S&P Global had a net margin of 32.01% and a return on equity of 490.35%. On average, analysts forecast that S&P Global Inc. will post 12.8 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Stockholders of record on Thursday, August 26th will be issued a dividend of $0.77 per share. The ex-dividend date is Wednesday, August 25th. This represents a $3.08 annualized dividend and a dividend yield of 0.74%. S&P Global’s dividend payout ratio (DPR) is presently 26.35%.

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: Ratings, Market Intelligence, Platts and Indices. The Ratings segment offers credit ratings, research, and analytics to investors, issuers, and other market participants.

Recommended Story: Understanding and Trading Breakout Stocks

Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc. (NYSE:SPGI).

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

Receive News & Ratings for S&P Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&P Global and related companies with MarketBeat.com's FREE daily email newsletter.