AAFMAA Wealth Management & Trust LLC Lowers Stock Holdings in S&P Global Inc. $SPGI

Key Points

• AAFMAA Wealth Management & Trust LLC reduced its holdings in S&P Global Inc. by 33.1% during the second quarter, now owning 2,214 shares valued at approximately $1.17 million.
• S&P Global recently reported earnings per share of $4.43, exceeding analysts' expectations of $4.18, while the company's quarterly revenue grew by 5.8% year-over-year.
• The firm declared a quarterly dividend of $0.96 per share, with a yield of 0.8%, scheduled for payment on December 10th, 2023.

AAFMAA Wealth Management & Trust LLC cut its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 33.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,214 shares of the business services provider's stock after selling 1,095 shares during the period. AAFMAA Wealth Management & Trust LLC's holdings in S&P Global were worth $1,167,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in S&P Global during the 1st quarter worth approximately $1,103,665,000. GAMMA Investing LLC grew its stake in shares of S&P Global by 60,982.3% in the first quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock worth $1,086,877,000 after acquiring an additional 2,135,599 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of S&P Global by 70.1% during 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 stake in shares of 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 valued at $1,497,493,000 after acquiring an additional 614,809 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings 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 valued at $389,283,000 after purchasing an additional 210,373 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Stock Down 1.2%

SPGI stock opened at $484.79 on Friday. The company's 50 day moving average is $540.46 and its two-hundred day moving average is $514.94. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $148.01 billion, a P/E ratio of 37.29, a PEG ratio of 2.63 and a beta of 1.20.

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

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be paid 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 is Tuesday, November 25th. S&P Global's dividend payout ratio (DPR) is currently 29.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays upped their price target on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Citigroup upped their target price on shares of S&P Global from $600.00 to $635.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Oppenheimer lifted their price target on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Morgan Stanley increased their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat.com, S&P Global has an average rating of "Buy" and a consensus price target of $614.46.

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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