2,588 Shares in S&P Global Inc. $SPGI Purchased by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. acquired 2,588 shares of S&P Global Inc. valued at approximately $1,349,000 during the second quarter of 2023.
• 77% of S&P Global's stock is currently held by institutional investors, including substantial increases in holdings from firms like Valeo Financial Advisors LLC, which increased its stake by 70,734.1% this quarter.
• S&P Global recently announced a quarterly dividend of $0.96 per share, with a dividend yield of 0.8%, set to be paid on December 10th, 2023.

Phoenix Financial Ltd. purchased a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,588 shares of the business services provider's stock, valued at approximately $1,349,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPGI. Valeo Financial Advisors LLC boosted its holdings in S&P Global by 70,734.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider's stock worth $1,670,671,000 after purchasing an additional 3,163,938 shares during the last quarter. Nuveen LLC bought a new stake in S&P Global in the first quarter worth about $1,103,665,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in S&P Global by 70.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock worth $826,819,000 after acquiring an additional 670,392 shares during the period. Price T Rowe Associates Inc. MD raised its position in S&P Global by 26.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock worth $1,497,493,000 after acquiring an additional 614,809 shares during the period. Finally, Alliancebernstein L.P. raised its position in S&P Global by 37.9% in the first quarter. Alliancebernstein L.P. now owns 766,154 shares of the business services provider's stock worth $389,283,000 after acquiring an additional 210,373 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Performance

NYSE SPGI opened at $483.85 on Wednesday. The company's 50 day moving average is $518.66 and its 200-day moving average is $513.40. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm has a market cap of $147.72 billion, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 2.52 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The company had revenue of $1.87 billion for the quarter. Sell-side analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. S&P Global's dividend payout ratio is 29.54%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho lifted their price objective on shares of S&P Global from $637.00 to $643.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Citigroup lifted their price objective on shares of S&P Global from $600.00 to $635.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Oppenheimer lifted their price objective on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, UBS Group lifted their price objective on shares of S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to data from MarketBeat.com, S&P Global currently has a consensus rating of "Buy" and a consensus price target of $614.23.

S&P Global Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.

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