Addenda Capital Inc. Has $9.82 Million Stock Holdings in S&P Global Inc. $SPGI

Key Points

• Addenda Capital Inc. increased its stake in S&P Global Inc. by 9.4% in Q2, owning 18,627 shares valued at approximately $9.82 million.
• Several hedge funds, including Brighton Jones LLC and Versant Capital Management Inc., have also raised their positions in S&P Global, indicating growing interest from institutional investors.
• S&P Global's stock has received a consensus rating of “Buy” from analysts, with price targets being adjusted upwards, the highest being $661.00 from Wells Fargo.

Addenda Capital Inc. boosted its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 9.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,627 shares of the business services provider's stock after purchasing an additional 1,608 shares during the quarter. Addenda Capital Inc.'s holdings in S&P Global were worth $9,822,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in S&P Global by 4.7% in the 4th quarter. Brighton Jones LLC now owns 3,176 shares of the business services provider's stock valued at $1,582,000 after acquiring an additional 143 shares in the last quarter. Versant Capital Management Inc increased its stake in S&P Global by 86.5% in the 1st quarter. Versant Capital Management Inc now owns 994 shares of the business services provider's stock valued at $505,000 after buying an additional 461 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of S&P Global by 1.5% in the first quarter. AdvisorNet Financial Inc now owns 2,570 shares of the business services provider's stock valued at $1,306,000 after acquiring an additional 37 shares during the last quarter. Parallel Advisors LLC boosted its position in S&P Global by 4.1% during the first quarter. Parallel Advisors LLC now owns 5,758 shares of the business services provider's stock valued at $2,926,000 after purchasing an additional 227 shares during the last quarter. Finally, Rothschild Investment LLC increased its position in shares of S&P Global by 1.2% during the 1st quarter. Rothschild Investment LLC now owns 2,657 shares of the business services provider's stock worth $1,350,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

SPGI has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company upped their price objective on S&P Global from $660.00 to $661.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. Morgan Stanley boosted their target price on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. increased their price target 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. Finally, Oppenheimer upped their price target on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. One 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, the stock presently has a consensus rating of "Buy" and a consensus price target of $614.46.

S&P Global Stock Performance

Shares of SPGI stock opened at $487.66 on Friday. The stock has a market capitalization of $148.88 billion, a PE ratio of 37.51, a PEG ratio of 2.61 and a beta of 1.20. The business's 50 day simple moving average is $539.72 and its 200 day simple moving average is $515.24. 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 one year low of $427.14 and a one year high of $579.05.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 EPS 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 company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the prior year, the firm posted $4.04 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, research analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be issued a $0.96 dividend. 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 payout ratio is presently 29.54%.

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.

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