Argent Trust Co Raises Stock Position in S&P Global Inc. $SPGI

Key Points

• Argent Trust Co. increased its S&P Global stake by 62.1% in the second quarter, bringing its holdings to 8,091 shares valued at approximately $3.3 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 18 buy ratings and an average price target of $523.59, although several firms recently reduced their targets and Zacks downgraded the stock to “strong sell.”
• S&P Global reported quarterly EPS of $4.83 and revenue of $4.15 billion, beating estimates and marking 10.4% year-over-year revenue growth. The company also declared a quarterly dividend of $0.97 per share, yielding 0.9% annually.

Argent Trust Co boosted its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 62.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,091 shares of the business services provider's stock after acquiring an additional 3,101 shares during the quarter. Argent Trust Co's holdings in S&P Global were worth $3,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Joseph Group Capital Management purchased a new position in shares of S&P Global in the 4th quarter worth approximately $29,000. North Star Investment Management Corp. raised its stake in shares of S&P Global by 134.6% in the fourth quarter. North Star Investment Management Corp. now owns 61 shares of the business services provider's stock valued at $32,000 after acquiring an additional 35 shares during the period. Palladiem LLC bought a new stake in shares of S&P Global in the 4th quarter worth about $36,000. Palisade Asset Management LLC bought a new stake in S&P Global in the third quarter worth about $36,000. Finally, Swiss RE Ltd. purchased a new stake in shares of S&P Global during the fourth quarter valued at $39,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SPGI. Rothschild & Co Redburn dropped their target price on shares of S&P Global from $540.00 to $520.00 and set a "buy" rating on the stock in a report on Thursday, June 18th. Morgan Stanley lowered their target price on S&P Global from $557.00 to $525.00 and set an "overweight" rating for the company in a report on Tuesday, July 7th. The Goldman Sachs Group dropped their target price on S&P Global from $539.00 to $490.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings reissued a "hold (c)" rating on shares of S&P Global in a research report on Monday, July 6th. Finally, Zacks Research cut S&P Global from a "hold" rating to a "strong sell" rating in a research note on Monday, July 20th. Eighteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $523.59.

S&P Global Stock Down 0.2%

SPGI stock opened at $418.15 on Monday. The stock has a market capitalization of $123.27 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.88 and a beta of 1.07. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $565.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $422.53 and a 200 day moving average of $428.39.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $4.83 EPS for the quarter, topping the consensus estimate of $4.81 by $0.02. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.09 billion. S&P Global had a net margin of 31.37% and a return on equity of 17.74%. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.43 earnings per share. S&P Global has set its FY 2026 guidance at 17.500-17.750 EPS. Sell-side analysts forecast that S&P Global Inc. will post 17.75 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.88 dividend on an annualized basis and a yield of 0.9%. S&P Global's dividend payout ratio (DPR) is currently 23.69%.

S&P Global Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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