Bank of America Corp DE Makes New $865.89 Million Investment in S&P Global Inc. $SPGI

Key Points

• Bank of America invested approximately $865.9 million in S&P Global during the second quarter, acquiring 2.13 million shares, or about 0.72% of the company. Institutional investors and hedge funds collectively own 87.17% of SPGI.
• Analysts remain broadly positive, with 18 Buy ratings and a consensus “Moderate Buy” rating. The average price target is $523.59, despite several firms recently reducing their targets.
• S&P Global reported quarterly revenue of $4.15 billion, up 10.4% year over year, and adjusted earnings of $4.83 per share, slightly exceeding expectations. Shares opened at $412.19, while the company maintains a quarterly dividend of $0.97 per share.

Bank of America Corp DE purchased a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,126,141 shares of the business services provider's stock, valued at approximately $865,892,000. Bank of America Corp DE owned approximately 0.72% of S&P Global as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of S&P Global by 1.1% during the 4th quarter. State Street Corp now owns 14,259,690 shares of the business services provider's stock worth $7,451,971,000 after buying an additional 157,301 shares during the last quarter. Norges Bank bought a new position in S&P Global in the fourth quarter valued at approximately $2,398,991,000. Capital International Investors increased its position in shares of S&P Global by 43.6% during the 4th quarter. Capital International Investors now owns 3,037,912 shares of the business services provider's stock worth $1,587,910,000 after purchasing an additional 922,433 shares during the last quarter. Unisphere Establishment increased its position in shares of S&P Global by 6.5% during the 1st quarter. Unisphere Establishment now owns 2,130,050 shares of the business services provider's stock worth $905,995,000 after purchasing an additional 130,050 shares during the last quarter. Finally, Cardano Risk Management B.V. raised its stake in shares of S&P Global by 858.3% during the 4th quarter. Cardano Risk Management B.V. now owns 1,760,230 shares of the business services provider's stock worth $919,879,000 after purchasing an additional 1,576,544 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPGI has been the subject of several recent analyst reports. UBS Group cut their price objective on S&P Global from $550.00 to $525.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Stifel Nicolaus boosted their target price on shares of S&P Global from $489.00 to $521.00 and gave the stock a "buy" rating in a report on Friday, July 17th. Bank of America dropped their price target on shares of S&P Global from $575.00 to $550.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Morgan Stanley cut their price target on shares of S&P Global from $557.00 to $525.00 and set an "overweight" rating for the company in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of S&P Global from $555.00 to $530.00 and set an "overweight" rating for the company in a research report on Wednesday, July 29th. Eighteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $523.59.

S&P Global Stock Down 1.5%

SPGI stock opened at $412.19 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $121.51 billion, a PE ratio of 25.16, a PEG ratio of 2.02 and a beta of 1.07. S&P Global Inc. has a 1-year low of $381.61 and a 1-year high of $552.25. The business's 50 day simple moving average is $427.20 and its 200 day simple moving average is $425.74.

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

S&P Global Dividend Announcement

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

About S&P Global

S&P Global Inc NYSE: SPGI provides financial information, analytics, benchmarks and credit ratings to businesses, governments and investors worldwide. Its services are used to evaluate credit risk, analyze markets, value assets, assess commodities and support investment and business decisions.

The company operates through businesses that include S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers financial and industry data, analytics and workflow tools; S&P Global Commodity Insights, which supplies information and pricing assessments for energy and commodity markets; and S&P Dow Jones Indices, which develops and maintains market indexes such as the S&P 500.

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