S&P Global Inc. $SPGI Shares Sold by Bowen Hanes & Co. Inc.

Key Points

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Bowen Hanes & Co. Inc. decreased its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,322 shares of the business services provider's stock after selling 537 shares during the period. S&P Global accounts for approximately 2.2% of Bowen Hanes & Co. Inc.'s holdings, making the stock its 12th biggest holding. Bowen Hanes & Co. Inc. owned 0.05% of S&P Global worth $79,427,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Nuveen LLC purchased a new stake in S&P Global in the 1st quarter worth about $1,103,665,000. GAMMA Investing LLC raised its position in S&P Global by 60,982.3% in the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock worth $1,086,877,000 after purchasing an additional 2,135,599 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in S&P Global by 70.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock worth $826,819,000 after purchasing an additional 670,392 shares during the period. Northern Trust Corp raised its position in S&P Global by 19.1% in the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock worth $1,631,568,000 after purchasing an additional 525,347 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in S&P Global in the 4th quarter worth about $238,503,000. Institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPGI. Stifel Nicolaus reduced their price objective on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird reduced their target price on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Oppenheimer raised their target price on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Morgan Stanley raised their target price on shares of S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $611.69.

S&P Global Stock Up 0.6%

Shares of NYSE SPGI traded up $3.49 during midday trading on Friday, reaching $555.93. 1,060,179 shares of the company's stock traded hands, compared to its average volume of 1,238,374. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock's 50 day simple moving average is $534.30 and its 200-day simple moving average is $513.75. S&P Global Inc. has a one year low of $427.14 and a one year high of $579.05. The company has a market cap of $169.73 billion, a price-to-earnings ratio of 42.76, a P/E/G ratio of 2.98 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.25. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. On average, analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is 29.54%.

About S&P Global

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.