922 Shares in S&P Global Inc. $SPGI Purchased by McElhenny Sheffield Capital Management LLC

Key Points

• McElhenny Sheffield Capital Management LLC acquired a new position in S&P Global Inc., purchasing 922 shares valued at approximately $486,000 in the second quarter.
• Several hedge funds increased their positions in S&P Global during the same period, with institutional investors holding 87.17% of the company's stock.
• S&P Global reported earnings of $4.43 per share for the latest quarter, surpassing expectations and indicating a year-over-year revenue growth of 5.8%.

McElhenny Sheffield Capital Management LLC bought a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 922 shares of the business services provider's stock, valued at approximately $486,000.

A number of other hedge funds have also made changes to their positions in the company. Lokken Investment Group LLC increased its position in shares of S&P Global by 9.1% during the 2nd quarter. Lokken Investment Group LLC now owns 2,935 shares of the business services provider's stock worth $1,547,000 after purchasing an additional 245 shares in the last quarter. Copperwynd Financial LLC increased its position in shares of S&P Global by 6.4% during the 2nd quarter. Copperwynd Financial LLC now owns 484 shares of the business services provider's stock worth $255,000 after purchasing an additional 29 shares in the last quarter. Columbus Macro LLC increased its position in shares of S&P Global by 7.3% during the 2nd quarter. Columbus Macro LLC now owns 11,232 shares of the business services provider's stock worth $5,923,000 after purchasing an additional 762 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of S&P Global by 1.1% during the 2nd quarter. Vontobel Holding Ltd. now owns 182,769 shares of the business services provider's stock worth $96,372,000 after purchasing an additional 1,975 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its position in shares of S&P Global by 2.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 14,924 shares of the business services provider's stock worth $7,869,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Oppenheimer raised their price objective on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. UBS Group raised their price objective on shares of S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. BMO Capital Markets raised their price objective on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of S&P Global in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $614.46.

S&P Global Stock Up 0.2%

Shares of NYSE SPGI opened at $482.20 on Thursday. The firm has a market capitalization of $147.22 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.56 and a beta of 1.19. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $579.05. The firm's 50-day moving average is $532.35 and its 200-day moving average is $514.56.

S&P Global (NYSE:SPGI - Get Free Report) last issued its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.25. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Equities analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. S&P Global's dividend payout ratio (DPR) is 29.54%.

About S&P Global

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.