S&P Global Inc (SPGI) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its stake in shares of S&P Global Inc (NYSE:SPGI) by 800.7% during the second quarter, HoldingsChannel.com reports. The fund owned 24,795 shares of the business services provider’s stock after purchasing an additional 22,042 shares during the period. Cornerstone Wealth Management LLC’s holdings in S&P Global were worth $121,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Optimum Investment Advisors acquired a new position in S&P Global in the first quarter worth approximately $124,000. Harvest Fund Management Co. Ltd grew its position in S&P Global by 46.4% in the first quarter. Harvest Fund Management Co. Ltd now owns 820 shares of the business services provider’s stock worth $156,000 after buying an additional 260 shares during the last quarter. Summit Trail Advisors LLC grew its position in S&P Global by 20,684.8% in the first quarter. Summit Trail Advisors LLC now owns 165,031 shares of the business services provider’s stock worth $165,000 after buying an additional 164,237 shares during the last quarter. Clinton Group Inc. acquired a new position in S&P Global in the second quarter worth approximately $201,000. Finally, Essex Financial Services Inc. acquired a new position in S&P Global in the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Several research firms have issued reports on SPGI. Atlantic Securities lowered shares of S&P Global from an “overweight” rating to a “neutral” rating in a research report on Wednesday, August 1st. Morgan Stanley lifted their price target on shares of S&P Global from $217.00 to $219.00 and gave the stock an “equal weight” rating in a research report on Friday, July 27th. BMO Capital Markets lifted their price target on shares of S&P Global from $209.00 to $214.00 and gave the stock a “market perform” rating in a research report on Friday, July 27th. Stifel Nicolaus lifted their price target on shares of S&P Global from $186.00 to $214.00 and gave the stock a “hold” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research lowered shares of S&P Global from a “buy” rating to a “hold” rating in a research report on Thursday, July 12th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. S&P Global has a consensus rating of “Buy” and an average target price of $202.93.

In related news, CEO Douglas L. Peterson sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $201.27, for a total value of $805,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy Luquette sold 508 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $208.50, for a total transaction of $105,918.00. Following the completion of the transaction, the senior vice president now directly owns 881 shares of the company’s stock, valued at approximately $183,688.50. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock valued at $1,292,254 in the last ninety days. Company insiders own 0.20% of the company’s stock.

S&P Global stock opened at $202.69 on Friday. S&P Global Inc has a 52 week low of $149.04 and a 52 week high of $217.31. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $50.63 billion, a P/E ratio of 29.42, a PEG ratio of 1.89 and a beta of 1.25.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, July 26th. The business services provider reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. S&P Global had a net margin of 25.95% and a return on equity of 333.87%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business posted $1.72 EPS. The company’s revenue was up 6.6% on a year-over-year basis. equities analysts forecast that S&P Global Inc will post 8.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Tuesday, August 28th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, August 27th. S&P Global’s dividend payout ratio is 29.03%.

S&P Global Profile

S&P Global Inc provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through three segments: Ratings, Market and Commodities Intelligence, and S&P Dow Jones Indices. The Ratings segment provides credit ratings, research, and analytics to investors, issuers, and other market participants.

Further Reading: Investing in Growth Stocks

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

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