Meeder Asset Management Inc. Buys 256 Shares of S&P Global Inc (NYSE:SPGI)

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Meeder Asset Management Inc. boosted its stake in shares of S&P Global Inc (NYSE:SPGI) by 4,266.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262 shares of the business services provider’s stock after purchasing an additional 256 shares during the quarter. Meeder Asset Management Inc.’s holdings in S&P Global were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SPGI. Meridian Wealth Management LLC bought a new stake in shares of S&P Global in the first quarter valued at about $26,000. Coastal Investment Advisors Inc. boosted its position in shares of S&P Global by 409.1% in the second quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 90 shares during the period. Coastal Capital Group Inc. bought a new stake in shares of S&P Global in the second quarter valued at about $27,000. Harvest Group Wealth Management LLC bought a new stake in shares of S&P Global in the first quarter valued at about $28,000. Finally, Berman Capital Advisors LLC boosted its position in shares of S&P Global by 59.6% in the first quarter. Berman Capital Advisors LLC now owns 166 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 62 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Nicholas Cafferillo sold 9,911 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $252.95, for a total value of $2,506,987.45. Following the completion of the transaction, the insider now owns 7,454 shares of the company’s stock, valued at $1,885,489.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexander Matturri, Jr. sold 1,007 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $230.44, for a total value of $232,053.08. Following the completion of the transaction, the chief executive officer now directly owns 18,723 shares of the company’s stock, valued at approximately $4,314,528.12. The disclosure for this sale can be found here. Insiders sold 23,425 shares of company stock valued at $5,898,602 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Shares of NYSE SPGI opened at $255.33 on Wednesday. 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 has a market cap of $63.31 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.79 and a beta of 1.08. S&P Global Inc has a 12 month low of $156.68 and a 12 month high of $266.22. The stock has a 50-day moving average price of $248.89 and a two-hundred day moving average price of $222.26.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, August 1st. The business services provider reported $2.43 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The business’s quarterly revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts predict that S&P Global Inc will post 9.21 earnings per share for the current year.

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

Several equities research analysts recently weighed in on the stock. Raymond James upped their price objective on shares of S&P Global from $246.00 to $272.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price objective on shares of S&P Global from $231.00 to $274.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. UBS Group upped their price objective on shares of S&P Global from $252.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald upped their price objective on shares of S&P Global from $244.00 to $294.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets upped their price objective on shares of S&P Global to $255.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $252.23.

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).

Further Reading: Are FAANG stocks a good investment?

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

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