Adage Capital Partners GP L.L.C. Sells 1,800 Shares of S&P Global Inc. $SPGI

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in S&P Global Inc. by 0.6%, owning approximately $140.35 million in shares as of the end of the most recent quarter.
• S&P Global reported a quarterly earnings per share of $4.43, exceeding expectations, with revenue reaching $3.76 billion—up 5.8% year-over-year.
• The company announced a quarterly dividend of $0.96 per share, representing an annualized yield of 0.7% and a dividend payout ratio of 29.54%.

Adage Capital Partners GP L.L.C. lessened its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,220 shares of the business services provider's stock after selling 1,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.09% of S&P Global worth $140,347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPGI. Vanguard Group Inc. grew its position in shares of S&P Global by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider's stock worth $15,130,711,000 after buying an additional 108,729 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in S&P Global by 13.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,071,407 shares of the business services provider's stock worth $1,529,653,000 after acquiring an additional 357,790 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of S&P Global by 26.4% during the 1st 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of S&P Global by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,762,187 shares of the business services provider's stock valued at $1,403,468,000 after purchasing an additional 97,324 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of S&P Global by 11.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,184,312 shares of the business services provider's stock worth $1,087,853,000 after purchasing an additional 224,294 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Stock Down 0.5%

Shares of SPGI traded down $2.65 during mid-day trading on Friday, hitting $537.61. 920,331 shares of the company's stock were exchanged, compared to its average volume of 1,000,519. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05. The company has a market cap of $164.13 billion, a PE ratio of 32.82, a P/E/G ratio of 2.89 and a beta of 1.20. The company has a 50-day simple moving average of $540.83 and a 200 day simple moving average of $514.87.

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

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.7%. S&P Global's payout ratio is currently 29.54%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group raised their target price on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a report on Friday, August 1st. BMO Capital Markets increased their target price on shares of S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Oppenheimer boosted their price target on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised their price objective on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $611.69.

S&P Global Company 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.