Avestar Capital LLC bought a new position in shares of S&P Global Inc. (NYSE: SPGI – Get a rating) in the 1st quarter, according to the company’s most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 549 shares of the business services provider’s stock, valued at approximately $225,000.
Other institutional investors have also recently modified their holdings of the company. Wealthfront Advisers LLC raised its stake in S&P Global by 10.4% during the 4th quarter. Wealthfront Advisers LLC now owns 14,046 shares of the business services provider’s stock worth $6,629,000 after buying an additional 1,318 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in shares of S&P Global by 11.3% in the first quarter. Douglas Lane & Associates LLC now owns 1,272 shares of the business services provider’s stock valued at $522,000 after buying an additional 129 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of S&P Global by 3.4% during the fourth quarter. Fifth Third Bancorp now owns 96,314 shares of the business services provider’s stock worth $45,453,000 after buying an additional 3,192 shares in the last quarter. Country Trust Bank boosted its stake in S&P Global by 8.5% in the first quarter. Country Trust Bank now owns 370 shares of the business services provider’s stock worth $152,000 after buying an additional 29 shares in the last quarter. Finally, Welch & Forbes LLC boosted its holdings in S&P Global by 17.7% in the first quarter. Welch & Forbes LLC now owns 3,762 shares of the business services provider’s stock worth $1,543,000 after buying an additional 565 shares in the last quarter. 94.26% of shares are currently held by hedge funds and other institutional investors.
SPGI has been the subject of a number of recent studies. BMO Capital Markets reduced their price objective on shares of S&P Global from $433.00 to $365.00 in a report on Thursday, June 2nd. Royal Bank of Canada cut their price objective on shares of S&P Global from $540.00 to $434.00 in a report on Thursday, June 2nd. Credit Suisse Group cut their price objective on S&P Global from $495.00 to $425.00 in a research report on Wednesday, May 4th. Raymond James cut their price target on S&P Global from $497.00 to $475.00 and set an “outperform” rating on the stock in a research report on Thursday, April 7th. Finally, Redburn Partners began coverage on S&P Global in a report on Tuesday, May 17th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Moderate Buy” and a consensus target price of $426.71, according to MarketBeat.
In related news, EVP Dimitra Manis sold 2,000 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $336.53, for a total transaction amounting to $673,060.00. Following the transaction, the executive vice president now owns 4,839 shares in the company, valued at approximately $1,628,468.67. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, the EVP Nancy Luckett sold 2,287 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $333.74 for a total value of $763,263.38. Following the transaction, the executive vice president now owns 5,667 shares in the company, valued at $1,891,304.58. Disclosures for this sale can be found here here. 0.10% of shares are held by corporate insiders.
Actions NYSE: SPGI opened at $352.48 on Monday. The company has a market cap of $119.78 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.34 and a beta of 1.03. S&P Global Inc. has a 12-month low of $311.87 and a 12-month high of $484.21. The business has a 50-day moving average of $339.07 and a 200-day moving average of $384.31. The company has a current ratio of 1.38, a gearing ratio of 1.38, and a debt-to-equity ratio of 0.28.
S&P Global (NYSE: SPGI – Get a rating) last announced quarterly earnings results on Tuesday, May 3. The business services provider reported $2.89 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.11). S&P Global had a net return of 40.43% and a return on equity of 31.07%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ estimates of $3.04 billion. For the same quarter last year, earnings per share amounted to $3.39. S&P Global’s revenue was up 18.5% year over year. As a group of equity research analysts predict that S&P Global Inc. will post 12.53 EPS in the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 26th will be paid a $0.85 dividend. That’s $3.40 in annualized dividends and a yield of 0.96%. The ex-dividend date is Thursday, August 25. S&P Global’s payout ratio is 24.53%.
S&P Global Profile (Get a rating)
S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics and workflow solutions to the global capital markets, commodities and automotive industries. It operates through six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility and S&P Global Engineering Solutions.
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https://www.defenseworld.net/2022/07/11/avestar-capital-llc-invests-225000-in-sp-global-inc-nysespgi-2.html Avestar Capital LLC invested $225,000 in S&P Global Inc. (NYSE:SPGI)