On September 3, 2023, Norinchukin Bank The announced that it had increased its position in shares of S&P Global Inc. by 41.3% during the first quarter of the year. According to their recent Form 13F filing with the Securities & Exchange Commission, the bank now owns 126,777 shares of S&P Global’s stock, after acquiring an additional 37,058 shares during the quarter. This makes S&P Global the 15th largest position in Norinchukin Bank The’s investment portfolio. The bank’s holdings in S&P Global were valued at $43,709,000 at the end of the reporting period.
S&P Global recently released its quarterly earnings results on July 27th. The business services provider reported earnings per share (EPS) of $3.12 for the quarter, which was in line with the consensus estimate. The company also had a return on equity of 10.45% and a net margin of 19.46%. Its revenue for the quarter amounted to $3.10 billion, surpassing analyst estimates of $3.05 billion. In comparison to the same period last year, S&P Global experienced a growth rate of 3.6% in revenue and posted EPS of $2.81.
Equity research analysts predict that S&P Global Inc. will have earnings per share amounting to $12.51 for the current fiscal year.
These developments indicate positive growth for both Norinchukin Bank The and S&P Global Inc., demonstrating their financial stability and potential for future success in their respective industries.
Disclaimer: This article is based on publicly available information and should not be used as financial advice or an endorsement of any investment decisions made by readers.
[bs_slider_forecast ticker=”SPGI”]
Analyzing Stake Holdings and Analyst Ratings: Insights into S&P Global’s Investment Landscape
In recent months, there have been notable fluctuations in the stake holdings of S&P Global by several hedge funds. Magnolia Capital Advisors LLC, for instance, increased its stake in the business services provider by 1.7% during the last quarter, acquiring an additional 28 shares and bringing its total ownership to 1,642 shares valued at $550,000. Circle Wealth Management LLC followed suit with a 2.0% increase in their stake, purchasing an additional 29 shares and now holding a total of 1,501 shares valued at $503,000.
Abbrea Capital LLC and Provence Wealth Management Group also demonstrated their interest in S&P Global by enlarging their holdings in the first quarter of this year. Abbrea Capital LLC boosted its ownership by 3.8%, adding another 30 shares to reach a total of 820 shares worth $283,000. Similarly, Provence Wealth Management Group increased their holdings by 4.4%, acquiring an additional 31 shares and now owning a total of 738 shares valued at $254,000.
Furthermore, Exchange Traded Concepts LLC took part in this trend and witnessed an impressive growth of their holdings by 11.1% during the first quarter of this year. They purchased an extra 33 shares and currently own a total of 329 shares valued at $113,000.
It is worth mentioning that institutional investors and hedge funds cumulatively possess about 85.50% of S&P Global’s stock.
Numerous research analysts have diligently followed these movements and have issued reports with various evaluations on the company. StockNews.com recently released coverage on S&P Global and assigned it a “hold” rating. Barclays experts showcased confidence in the company’s future performance by raising the price objective from $425 to $470 per share and designating it as “overweight.” On the other hand, Bank of America initiated coverage with a “buy” rating.
Robert W. Baird, meanwhile, decreased the price target of S&P Global from $460 to $451 per share but maintained an “outperform” rating for the stock despite this adjustment. TheStreet appeared to be less bullish about the company’s prospects and downgraded it from a “b” rating to a “c+” rating in their analysis.
Taking into account these various ratings and reports, it is evident that industry experts have mixed opinions regarding S&P Global. However, according to data obtained from Bloomberg, there is a consensus among them that the stock has a “Moderate Buy” rating and an average price target of $400.94.
The company has also witnessed notable insider trading activities. Insider Saugata Saha sold 200 shares of S&P Global’s stock on June 13th at an average price of $386.27 per share, resulting in a total transaction value of $77,254. Following the sale, Saha retains ownership of 3,134 shares worth approximately $1,210,570.
Another insider, Adam Jason Kansler, engaged in a significant sell-off as well by offloading 10,000 shares on August 11th at an average price of $387.38 per share—a transaction valued at $3,873,800. Following this sale, Kansler still holds 20,961 shares valued at approximately $8,119,872.
Insiders have collectively sold 24,078 shares during the last three months amounting to a total value of $9,407,258. It is important to note that insiders now possess only 0.10% stake in the company.
As for its recent trading activity on Friday (September 3rd), S&P Global experienced movement with its stock reaching $393.96 during mid-day trading. Approximately 382 market participants traded shares amounting to an aggregate volume of 382,710 shares. The company’s fifty-day simple moving average stood at $397.33, while the 200-day simple moving average was recorded at $369.89.
With a market capitalization of $125.36 billion, S&P Global has a price-to-earnings (PE) ratio of 53.99 and a price/earnings-to-growth (PEG) ratio of 2.43. The company’s beta is 1.12, indicating its slightly higher volatility compared to the broader market.
These recent developments provide intriguing insights into the investment activities surrounding S&P Global as well as the opinions of industry experts. While analysts’ ratings vary and insiders have shown mixed trading behavior, an overall sense of interest and engagement in the company remains evident among investors and hedge funds alike.
