Sumitomo Life Insurance Co. Has $3.40 Million Holdings in S&P Global Inc (SPGI)

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Sumitomo Life Insurance Co. trimmed its position in S&P Global Inc (NYSE:SPGI) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,158 shares of the business services provider’s stock after selling 1,655 shares during the period. Sumitomo Life Insurance Co.’s holdings in S&P Global were worth $3,402,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Nordea Investment Management AB increased its position in shares of S&P Global by 3.3% in the fourth quarter. Nordea Investment Management AB now owns 409,183 shares of the business services provider’s stock valued at $69,538,000 after acquiring an additional 12,882 shares during the period. Legal & General Group Plc increased its position in shares of S&P Global by 9.1% in the fourth quarter. Legal & General Group Plc now owns 1,291,174 shares of the business services provider’s stock valued at $219,379,000 after acquiring an additional 107,927 shares during the period. Gates Capital Management Inc. increased its position in shares of S&P Global by 27.1% in the fourth quarter. Gates Capital Management Inc. now owns 393,855 shares of the business services provider’s stock valued at $66,932,000 after acquiring an additional 83,855 shares during the period. Manning & Napier Group LLC purchased a new position in shares of S&P Global in the first quarter valued at about $103,755,000. Finally, Prana Capital Management LP purchased a new position in shares of S&P Global in the fourth quarter valued at about $5,253,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

NYSE:SPGI opened at $216.95 on Wednesday. S&P Global Inc has a one year low of $156.68 and a one year high of $217.94. The company has a debt-to-equity ratio of 5.35, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $53.27 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 1.36 and a beta of 1.16.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, February 7th. The business services provider reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.02. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.60 billion. S&P Global had a net margin of 31.30% and a return on equity of 367.09%. The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 earnings per share. Research analysts anticipate that S&P Global Inc will post 9.03 EPS for the current fiscal year.

In other news, CEO Alexander Matturri, Jr. sold 1,791 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $195.74, for a total transaction of $350,570.34. Following the completion of the transaction, the chief executive officer now directly owns 17,354 shares of the company’s stock, valued at $3,396,871.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ewout L. Steenbergen sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $194.20, for a total transaction of $776,800.00. Following the transaction, the chief financial officer now directly owns 5,239 shares of the company’s stock, valued at $1,017,413.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,041 shares of company stock worth $3,805,815. Insiders own 0.20% of the company’s stock.

A number of equities research analysts have recently weighed in on SPGI shares. UBS Group lifted their target price on shares of S&P Global from $205.00 to $226.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Atlantic Securities raised shares of S&P Global from a “neutral” rating to an “overweight” rating and set a $210.00 target price on the stock in a research note on Friday, January 11th. Raymond James cut their target price on shares of S&P Global from $215.00 to $209.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 8th. Zacks Investment Research lowered shares of S&P Global from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley set a $193.00 target price on shares of S&P Global and gave the company a “hold” rating in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. S&P Global has an average rating of “Hold” and an average target price of $212.18.

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About S&P Global

S&P Global Inc provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through three segments: Ratings, Market and Commodities Intelligence, and S&P Dow Jones Indices. The Ratings segment provides credit ratings, research, and analytics to investors, issuers, and other market participants.

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

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