Caisse DE Depot ET Placement DU Quebec Boosts Stake in S&P Global Inc. $SPGI

Key Points

• Caisse DE Depot ET Placement DU Quebec has increased its stake in S&P Global Inc. by 7.9% during the 1st quarter, owning approximately $175.8 million worth of shares.
• Wall Street analysts remain optimistic, with a consensus rating of "Buy" and a target price averaging $611.69 for S&P Global.
• S&P Global recently reported a 5.8% year-over-year revenue increase, reaching $3.76 billion in the latest quarter, and has set a quarterly dividend of $0.96.

Caisse DE Depot ET Placement DU Quebec raised its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 346,045 shares of the business services provider's stock after purchasing an additional 25,249 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.11% of S&P Global worth $175,825,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in S&P Global by 52.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 82,205 shares of the business services provider's stock valued at $41,769,000 after purchasing an additional 28,321 shares in the last quarter. ICONIQ Capital LLC increased its holdings in shares of S&P Global by 15.5% in the first quarter. ICONIQ Capital LLC now owns 1,646 shares of the business services provider's stock worth $836,000 after buying an additional 221 shares during the period. APG Asset Management N.V. increased its holdings in shares of S&P Global by 6.1% in the first quarter. APG Asset Management N.V. now owns 308,115 shares of the business services provider's stock worth $144,930,000 after buying an additional 17,615 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of S&P Global by 13.5% in the first quarter. Smartleaf Asset Management LLC now owns 4,166 shares of the business services provider's stock worth $2,093,000 after buying an additional 496 shares during the period. Finally, Groupe la Francaise increased its holdings in shares of S&P Global by 7.1% in the first quarter. Groupe la Francaise now owns 12,168 shares of the business services provider's stock worth $6,189,000 after buying an additional 804 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

SPGI has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. BMO Capital Markets lifted their price objective on S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Morgan Stanley lifted their price objective on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company lifted their price objective on S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Barclays boosted their price target on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $611.69.

S&P Global Stock Up 0.2%

NYSE SPGI traded up $1.06 during mid-day trading on Friday, reaching $548.61. The stock had a trading volume of 885,492 shares, compared to its average volume of 1,274,636. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $579.05. The stock has a market cap of $167.49 billion, a PE ratio of 42.20, a price-to-earnings-growth ratio of 2.94 and a beta of 1.19. The company has a fifty day moving average price of $538.10 and a 200 day moving average price of $514.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, beating analysts' consensus estimates of $4.18 by $0.25. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. On average, research analysts expect that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The business 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 dividend of $0.96 per share. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. S&P Global's payout ratio is currently 29.54%.

S&P Global Company Profile

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.