Park Place Capital Corp Acquires 403 Shares of S&P Global Inc. (NYSE:SPGI)

Park Place Capital Corp grew its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 37.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,486 shares of the business services provider’s stock after buying an additional 403 shares during the period. Park Place Capital Corp’s holdings in S&P Global were worth $663,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of S&P Global in the 4th quarter worth $1,652,862,000. Swedbank AB purchased a new stake in S&P Global in the 1st quarter valued at $351,774,000. Capital International Investors raised its position in S&P Global by 12.6% in the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after buying an additional 616,732 shares during the last quarter. Third Point LLC purchased a new stake in S&P Global in the 1st quarter valued at $142,526,000. Finally, Mackenzie Financial Corp raised its position in S&P Global by 24.4% in the 4th quarter. Mackenzie Financial Corp now owns 1,502,798 shares of the business services provider’s stock valued at $662,013,000 after buying an additional 294,896 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the transaction, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at $715,205.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets increased their price target on S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group increased their price target on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays lifted their price objective on S&P Global from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley raised their target price on S&P Global from $500.00 to $510.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $526.73.

S&P Global Price Performance

Shares of NYSE SPGI traded down $4.49 during trading hours on Friday, reaching $486.04. 1,214,394 shares of the stock traded hands, compared to its average volume of 1,127,889. The company has a market capitalization of $152.13 billion, a P/E ratio of 54.49, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a quick ratio of 0.92, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 52-week low of $340.49 and a 52-week high of $502.95. The company’s 50-day simple moving average is $455.60 and its two-hundred day simple moving average is $438.82.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.12 EPS. Equities research analysts forecast that S&P Global Inc. will post 14.58 EPS for the current year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a yield of 0.75%. S&P Global’s dividend payout ratio (DPR) is currently 40.81%.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through 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.