Bank of Nova Scotia Reduces Position in S&P Global Inc. $SPGI

Key Points

• Bank of Nova Scotia cut its S&P Global stake by 50.4% in the first quarter, selling 136,852 shares and ending with 134,613 shares valued at about $57.3 million.
• S&P Global reported stronger-than-expected quarterly results, posting EPS of $4.97 versus the $4.82 estimate and revenue of $4.17 billion, up 10.4% year over year. The company also reaffirmed a FY 2026 EPS guidance range of $19.40 to $19.65.
• The company announced a quarterly dividend of $0.97 per share, payable September 10 to shareholders of record on August 26, and analysts remain broadly positive with a consensus “Moderate Buy” rating and average price target of $533.59.

Bank of Nova Scotia decreased its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 50.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 134,613 shares of the business services provider's stock after selling 136,852 shares during the period. Bank of Nova Scotia's holdings in S&P Global were worth $57,257,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SPGI. Brighton Jones LLC increased its stake in shares of 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 worth $1,582,000 after acquiring an additional 143 shares during the last quarter. Sivia Capital Partners LLC raised its stake in S&P Global by 7.8% during the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the business services provider's stock worth $547,000 after purchasing an additional 75 shares during the period. Neuberger Berman Group LLC boosted its holdings in S&P Global by 5.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,694,790 shares of the business services provider's stock valued at $893,511,000 after purchasing an additional 88,526 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of S&P Global in the 2nd quarter valued at approximately $552,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of S&P Global by 17.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,212 shares of the business services provider's stock valued at $1,694,000 after buying an additional 472 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Up 1.5%

Shares of NYSE SPGI opened at $426.19 on Friday. The business has a 50-day moving average of $423.27 and a two-hundred day moving average of $442.10. The company has a market capitalization of $126.15 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08. S&P Global Inc. has a 1 year low of $381.61 and a 1 year high of $579.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.68 and a quick ratio of 0.68.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.15. S&P Global had a return on equity of 17.26% and a net margin of 30.37%.The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $4.37 EPS. The business's quarterly revenue was up 10.4% on a year-over-year basis. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. On average, analysts forecast that S&P Global Inc. will post 18.37 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be issued 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 payout ratio is currently 24.56%.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz purchased 1,152 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of $434.03 per share, for a total transaction of $500,002.56. Following the acquisition, the director directly owned 1,152 shares in the company, valued at $500,002.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Martina Cheung purchased 2,322 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The stock was purchased at an average price of $429.93 per share, with a total value of $998,297.46. Following the completion of the purchase, the chief executive officer directly owned 27,518 shares of the company's stock, valued at approximately $11,830,813.74. This represents a 9.22% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 5,974 shares of company stock worth $2,576,775. 0.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group decreased their price target on S&P Global from $539.00 to $490.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Stifel Nicolaus increased their target price on S&P Global from $489.00 to $521.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Bank of America lowered their target price on S&P Global from $575.00 to $550.00 and set a "buy" rating for the company in a report on Friday, July 10th. Daiwa Securities Group dropped their target price on S&P Global from $490.00 to $485.00 and set an "outperform" rating for the company in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group boosted their price target on shares of S&P Global from $500.00 to $535.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $533.59.

About S&P Global

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.

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