S&P Global Inc. Shares (NYSE:SPGI) acquired by Capital Market Strategies LLC

VaselineOctober 5, 2024

0 4 minutes read

Capital Market Strategies LLC increased its holdings in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 5.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 606 shares of the business services provider’s stock after buying an additional 31 shares during the period. Capital Market Strategies LLC’s holdings in S&P Global were worth $313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPGI. Swedbank AB purchased a new position in shares of S&P Global in the first quarter valued at $351,774,000. Assenagon Asset Management SA boosted its stake in S&P Global by 352.2% in the second quarter. Assenagon Asset Management SA now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after buying an additional 360,909 shares during the period. Third Point LLC acquired a new stake in S&P Global in the first quarter worth $142,526,000. Ameriprise Financial Inc. raised its stake in S&P Global by 13.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after purchasing an additional 298,645 shares during the period. Finally, Capital International Investors raised its stake in S&P Global by 5.3% in the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock worth $2,464,951,000 after purchasing an additional 291,712 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s shares.

S&P Global Trading falls 0.0%

NYSE SPGI opened at $514.60 on Friday. S&P Global Inc. it has a one year low of $340.49 and a one year high of $528.02. The company has a 50-day simple moving average of $504.41 and a 200-day simple moving average of $460.49. 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 $161.02 billion, a PE ratio of 57.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17.

Want more great investment ideas?

S&P Global (NYSE:SPGI – Get Free Report ) last posted its quarterly earnings results 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 net margin of 25.03% and a return on equity of 13.03%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the business posted EPS of $3.12. The company’s quarterly revenue was up 14.4% year over year. On average, equities analysts estimate that S&P Global Inc. will post 14.57 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents an annualized dividend of $3.64 and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 26. S&P Global’s dividend payout ratio (DPR) is currently 40.81%.

Analysts set new price targets

Several equities research analysts recently issued reports on SPGI shares. Morgan Stanley raised their target price on shares of S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Bank of America raised their target price on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Royal Bank of Canada raised their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of S&P Global from $532.00 to $537.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $556.58, according to MarketBeat.com.

Get the latest research report on SPGI

Indoor activity

In other news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s 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 transaction, the insider now directly owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,862 shares of company stock worth $8,645,727. Company insiders hold 0.10% of the company’s shares.

S&P Global 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.