S&P Global Inc. (NYSE:SPGI) Shares Acquired by Catalina Capital Group LLC

26 Aug 2024, 02:08 by Doug Wharley · The Cerbat Gem

Catalina Capital Group LLC boosted its holdings in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,389 shares of the business services provider’s stock after acquiring an additional 45 shares during the quarter. Catalina Capital Group LLC’s holdings in S&P Global were worth $620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in S&P Global by 5.3% in the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after buying an additional 291,712 shares during the period. Norges Bank purchased a new position in shares of S&P Global in the fourth quarter valued at approximately $1,652,862,000. Capital World Investors grew its holdings in shares of S&P Global by 0.5% in the fourth quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock valued at $1,241,706,000 after purchasing an additional 12,644 shares in the last quarter. Wells Fargo & Company MN increased its stake in S&P Global by 11.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,624,308 shares of the business services provider’s stock worth $1,156,060,000 after buying an additional 279,633 shares during the period. Finally, Parnassus Investments LLC lifted its holdings in S&P Global by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 2,467,429 shares of the business services provider’s stock worth $1,086,952,000 after buying an additional 7,887 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on S&P Global from $500.00 to $510.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. BMO Capital Markets increased their price target on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. UBS Group boosted their price target on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Oppenheimer raised their price objective on shares of S&P Global from $486.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $530.75.

Check Out Our Latest Stock Report on SPGI

Insider Buying and Selling

In other news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now owns 154,912 shares in the company, valued at approximately $74,915,443.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock valued at $8,645,727 over the last quarter. Company insiders own 0.10% of the company’s stock.

S&P Global Stock Performance

Shares of S&P Global stock traded up $1.87 during trading on Friday, reaching $500.59. The company’s stock had a trading volume of 620,544 shares, compared to its average volume of 1,240,709. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $502.95. The company has a current ratio of 1.03, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The firm has a market cap of $156.63 billion, a PE ratio of 56.12, a P/E/G ratio of 2.55 and a beta of 1.16. The company has a 50-day moving average price of $473.07 and a two-hundred day moving average price of $443.26.

S&P Global (NYSE:SPGI – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts forecast that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Tuesday, August 27th. S&P Global’s dividend payout ratio is presently 40.81%.

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 S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.