Interchange Capital Partners LLC increases stake in S&P Global Inc. (NYSE:SPGI)

VaselineSeptember 2, 2024

0 4 minutes read

Interchange Capital Partners LLC grew its holdings in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 28.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 626 shares of the business services provider’s stock after purchasing an additional 139 shares during the quarter. Interchange Capital Partners LLC’s holdings in S&P Global were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Wealth Management Group LLC bought a new stake in shares of S&P Global during the fourth quarter valued at approximately $26,000. Pineridge Advisors LLC purchased a new position in S&P Global during the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in S&P Global in the second quarter valued at about $31,000. First Pacific Financial increased its position in shares of S&P Global by 49.0% during the second quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 24 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of S&P Global in the fourth quarter valued at $36,000. 87.17% of shares are owned by institutional investors.

Insider buying and selling at S&P Global

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the sale, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following 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 filing with the SEC, which can be accessed through the SEC’s website. Also, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the transaction, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of shares are currently owned by insiders.

The Wall Street analyst weighs in

Want more great investment ideas?

Several equities analysts recently commented on the company. Royal Bank of Canada upped their target price on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their target price on S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Bank of America upped their target price on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus upped their target price on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $530.75, according to MarketBeat.com.

Check out our latest report on SPGI

Global S&P Price Performance

Shares of SPGI stock opened at $513.24 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03, and a current ratio of 1.03. The firm has a market cap of $160.64 billion, a P/E ratio of 57.54, a P/E/G ratio of 2.67 and a beta of 1.16. The company’s fifty day moving average is $480.08 and its 200 day moving average is $445.80. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $514.00.

S&P Global (NYSE:SPGI – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping 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 the consensus estimate of $3.42 billion. In the same quarter last year, the company earned $3.12 per share. The company’s quarterly revenue was up 14.4% year over year. Research analysts predict that S&P Global Inc. will post 14.57 earnings per share for the current year.

S&P Global announces dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be given a $0.91 dividend. The ex-dividend date is Tuesday, August 27. This represents a dividend of $3.64 on an annualized basis and a yield of 0.71%. S&P Global’s dividend payout ratio (DPR) is currently 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, commodities and auto markets. It operates through the 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.