Bank of New York Mellon Corp Sells 50,642 Shares of S&P Global Inc. $SPGI

Key Points

• Bank of New York Mellon reduced its S&P Global stake by 2.9%, selling 50,642 shares and retaining 1.72 million shares valued at approximately $699.7 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 18 Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $523.59, despite several recent target-price reductions.
• S&P Global exceeded quarterly expectations with $4.83 EPS and $4.15 billion in revenue, up 10.4% year over year. The company also declared a quarterly dividend of $0.97 per share, representing a 0.9% annualized yield.

Bank of New York Mellon Corp lowered its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,718,140 shares of the business services provider's stock after selling 50,642 shares during the period. Bank of New York Mellon Corp owned about 0.58% of S&P Global worth $699,730,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SPGI. Norges Bank purchased a new stake in shares of S&P Global during the fourth quarter worth about $2,398,991,000. EdgePoint Investment Group Inc. purchased a new position in S&P Global during the 1st quarter valued at about $702,911,000. Cardano Risk Management B.V. raised its position in 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 valued at $919,879,000 after purchasing an additional 1,576,544 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in S&P Global by 2,256.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,446,633 shares of the business services provider's stock worth $755,996,000 after buying an additional 1,385,249 shares during the period. Finally, Soroban Capital Partners LP lifted its holdings in S&P Global by 260.3% in the 1st quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider's stock worth $718,247,000 after buying an additional 1,219,990 shares during the period. Institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SPGI shares. Royal Bank Of Canada reduced their target price on S&P Global from $560.00 to $510.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 7th. Robert W. Baird decreased their price objective on shares of S&P Global from $521.00 to $513.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. BMO Capital Markets increased their price target on shares of S&P Global from $495.00 to $505.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lowered 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 report on Wednesday, July 29th. 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 given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $523.59.

S&P Global Trading Up 1.2%

S&P Global stock opened at $431.70 on Friday. S&P Global Inc. has a 12 month low of $381.61 and a 12 month high of $559.44. The company has a market capitalization of $127.27 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.92 and a beta of 1.07. The business's fifty day simple moving average is $422.64 and its two-hundred day simple moving average is $425.42. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40.

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

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a $0.97 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 annualized dividend and a dividend yield of 0.9%. S&P Global's payout ratio 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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