Bank of Nova Scotia cut its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,946 shares of the business services provider’s stock after selling 986 shares during the quarter. Bank of Nova Scotia’s holdings in S&P Global were worth $8,897,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of S&P Global by 5.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,077,759 shares of the business services provider’s stock worth $157,342,000 after purchasing an additional 54,020 shares during the period. Caxton Associates LP bought a new position in shares of S&P Global during the second quarter worth approximately $584,000. Cubist Systematic Strategies LLC bought a new position in shares of S&P Global during the second quarter worth approximately $1,296,000. Sciencast Management LP increased its holdings in shares of S&P Global by 202.3% during the second quarter. Sciencast Management LP now owns 6,161 shares of the business services provider’s stock worth $899,000 after purchasing an additional 4,123 shares during the period. Finally, Maverick Capital Ltd. increased its holdings in shares of S&P Global by 23.9% during the second quarter. Maverick Capital Ltd. now owns 27,100 shares of the business services provider’s stock worth $3,956,000 after purchasing an additional 5,220 shares during the period. 85.34% of the stock is currently owned by institutional investors.
Shares of S&P Global Inc. (NYSE SPGI) traded up 0.43% on Friday, hitting $161.82. 990,611 shares of the stock traded hands. The stock has a 50 day moving average price of $155.44 and a 200-day moving average price of $145.96. S&P Global Inc. has a 52 week low of $107.21 and a 52 week high of $162.96. The stock has a market cap of $41.59 billion, a price-to-earnings ratio of 18.85 and a beta of 1.50.
S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, July 27th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.15. S&P Global had a net margin of 38.78% and a return on equity of 202.37%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that S&P Global Inc. will post $6.35 EPS for the current year.
Several brokerages have recently commented on SPGI. BMO Capital Markets reaffirmed a “buy” rating and set a $177.00 target price on shares of S&P Global in a report on Friday. Zacks Investment Research raised shares of S&P Global from a “hold” rating to a “buy” rating and set a $178.00 target price on the stock in a report on Tuesday. Morgan Stanley raised their target price on shares of S&P Global from $154.00 to $158.00 and gave the stock an “equal weight” rating in a report on Friday, October 6th. Finally, Barclays PLC raised their target price on shares of S&P Global from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, September 15th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $160.30.
In other S&P Global news, SVP Nancy Luquette sold 860 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $151.50, for a total value of $130,290.00. Following the sale, the senior vice president now directly owns 106 shares in the company, valued at approximately $16,059. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.