M&T Bank Corp Sells 1,370 Shares of S&P Global Inc (NYSE:SPGI)

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M&T Bank Corp trimmed its position in S&P Global Inc (NYSE:SPGI) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,709 shares of the business services provider’s stock after selling 1,370 shares during the quarter. M&T Bank Corp’s holdings in S&P Global were worth $19,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPGI. Packer & Co Ltd grew its stake in shares of S&P Global by 302.8% during the second quarter. Packer & Co Ltd now owns 801,578 shares of the business services provider’s stock worth $38,497,000 after buying an additional 602,578 shares during the last quarter. Investec Asset Management LTD lifted its holdings in shares of S&P Global by 42.6% during the second quarter. Investec Asset Management LTD now owns 1,148,916 shares of the business services provider’s stock worth $261,712,000 after purchasing an additional 343,143 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of S&P Global by 24.5% during the first quarter. Lazard Asset Management LLC now owns 1,693,668 shares of the business services provider’s stock worth $356,601,000 after purchasing an additional 333,020 shares during the period. Egerton Capital UK LLP lifted its holdings in shares of S&P Global by 11.0% during the first quarter. Egerton Capital UK LLP now owns 3,339,926 shares of the business services provider’s stock worth $703,221,000 after purchasing an additional 330,142 shares during the period. Finally, Haverford Trust Co. lifted its holdings in shares of S&P Global by 19,883.2% during the first quarter. Haverford Trust Co. now owns 295,951 shares of the business services provider’s stock worth $62,312,000 after purchasing an additional 294,470 shares during the period. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

SPGI stock traded down $1.02 during midday trading on Wednesday, hitting $257.65. The stock had a trading volume of 41,054 shares, compared to its average volume of 1,278,809. The firm has a market cap of $64.08 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 7.52. S&P Global Inc has a 1-year low of $156.68 and a 1-year high of $266.22. The business has a fifty day moving average price of $251.98 and a two-hundred day moving average price of $224.55.

S&P Global (NYSE:SPGI) last released its earnings results on Thursday, August 1st. The business services provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.15. S&P Global had a net margin of 31.02% and a return on equity of 341.54%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. S&P Global’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts anticipate that S&P Global Inc will post 9.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, August 26th. S&P Global’s payout ratio is presently 26.82%.

SPGI has been the topic of a number of recent research reports. Raymond James lifted their price target on shares of S&P Global from $246.00 to $272.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of S&P Global from $231.00 to $274.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. initiated coverage on shares of S&P Global in a report on Wednesday, July 10th. They set an “overweight” rating and a $260.00 price target on the stock. Cantor Fitzgerald lifted their price target on shares of S&P Global from $244.00 to $294.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets lifted their price target on shares of S&P Global to $255.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $252.23.

In other news, CEO Alexander Matturri, Jr. sold 1,007 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $230.44, for a total transaction of $232,053.08. Following the completion of the sale, the chief executive officer now directly owns 18,723 shares of the company’s stock, valued at $4,314,528.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas L. Peterson sold 6,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $254.83, for a total transaction of $1,528,980.00. Following the sale, the chief executive officer now directly owns 163,731 shares of the company’s stock, valued at $41,723,570.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,425 shares of company stock valued at $5,898,602. 0.20% of the stock is currently owned by insiders.

S&P Global Company 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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