Wells Fargo & Company MN Has $360.97 Million Stock Position in S&P Global Inc (NYSE:SPGI)

Wells Fargo & Company MN lifted its stake in S&P Global Inc (NYSE:SPGI) by 12.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,584,639 shares of the business services provider’s stock after purchasing an additional 180,484 shares during the quarter. Wells Fargo & Company MN’s holdings in S&P Global were worth $360,966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. boosted its position in shares of S&P Global by 2.0% in the 1st quarter. OppenheimerFunds Inc. now owns 4,213,907 shares of the business services provider’s stock valued at $887,238,000 after purchasing an additional 80,700 shares during the period. Egerton Capital UK LLP boosted its position in shares of S&P Global by 11.0% in the 1st quarter. Egerton Capital UK LLP now owns 3,339,926 shares of the business services provider’s stock valued at $703,221,000 after purchasing an additional 330,142 shares during the period. Northern Trust Corp boosted its position in S&P Global by 0.4% during the 1st quarter. Northern Trust Corp now owns 3,108,165 shares of the business services provider’s stock worth $654,425,000 after acquiring an additional 12,880 shares during the period. Geode Capital Management LLC boosted its position in S&P Global by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,856,635 shares of the business services provider’s stock worth $484,484,000 after acquiring an additional 80,031 shares during the period. Finally, Veritas Asset Management LLP boosted its position in S&P Global by 4.9% during the 1st quarter. Veritas Asset Management LLP now owns 2,214,707 shares of the business services provider’s stock worth $466,307,000 after acquiring an additional 103,507 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

In other news, insider Nicholas Cafferillo sold 9,911 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $252.95, for a total transaction of $2,506,987.45. Following the completion of the sale, the insider now directly owns 7,454 shares of the company’s stock, valued at approximately $1,885,489.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven J. Kemps sold 5,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $249.88, for a total value of $1,374,340.00. Following the sale, the executive vice president now directly owns 7,540 shares of the company’s stock, valued at $1,884,095.20. The disclosure for this sale can be found here. Insiders have sold a total of 23,425 shares of company stock valued at $5,898,602 over the last ninety days. Company insiders own 0.20% of the company’s stock.

NYSE SPGI traded down $6.28 during trading on Friday, reaching $257.04. 1,155,374 shares of the company’s stock were exchanged, compared to its average volume of 1,407,346. S&P Global Inc has a fifty-two week low of $156.68 and a fifty-two week high of $266.22. The firm has a market capitalization of $64.86 billion, a PE ratio of 30.24, a P/E/G ratio of 2.86 and a beta of 1.08. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 7.52. The company’s fifty day simple moving average is $247.18 and its 200-day simple moving average is $221.01.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.15. S&P Global had a return on equity of 341.54% and a net margin of 31.02%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business earned $2.17 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts forecast that S&P Global Inc will post 9.21 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, August 26th. S&P Global’s dividend payout ratio (DPR) is presently 26.82%.

A number of brokerages have commented on SPGI. Zacks Investment Research upgraded S&P Global from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Atlantic Securities lowered S&P Global from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $220.00 to $260.00 in a research report on Tuesday, August 6th. Raymond James raised their price objective on S&P Global from $246.00 to $272.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets raised their price objective on S&P Global to $255.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price objective on S&P Global from $231.00 to $274.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $252.23.

S&P Global Profile

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

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

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