Cannell & Spears LLC Reduces Stock Holdings in S&P Global Inc. $SPGI

Key Points

• Cannell & Spears LLC reduced its S&P Global stake by 41.2% in the first quarter, selling 2,803 shares and leaving it with 3,999 shares worth about $1.68 million.
• Insiders were buying: CEO Martina Cheung and Director Robert Edward Jr. Moritz both purchased shares in late April, and insiders have bought 5,974 shares worth about $2.58 million over the last 90 days.
• S&P Global reported strong quarterly results, beating EPS and revenue estimates, while analysts remain broadly positive with a Moderate Buy consensus and a target price of $533.59.

Cannell & Spears LLC cut its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 41.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,999 shares of the business services provider's stock after selling 2,803 shares during the period. Cannell & Spears LLC's holdings in S&P Global were worth $1,682,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SPGI. Joseph Group Capital Management purchased a new stake in shares of S&P Global in the fourth quarter valued at about $29,000. North Star Investment Management Corp. increased its stake in shares of S&P Global by 134.6% during the 4th quarter. North Star Investment Management Corp. now owns 61 shares of the business services provider's stock worth $32,000 after purchasing an additional 35 shares in the last quarter. Palladiem LLC purchased a new position in shares of S&P Global during the 4th quarter worth approximately $36,000. Palisade Asset Management LLC acquired a new position in shares of S&P Global during the 3rd quarter worth approximately $36,000. Finally, Swiss RE Ltd. purchased a new stake in S&P Global in the 4th quarter valued at approximately $39,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at S&P Global

In related news, CEO Martina Cheung bought 2,322 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was purchased at an average cost of $429.93 per share, for a total transaction of $998,297.46. Following the completion of the acquisition, the chief executive officer owned 27,518 shares in the company, valued at $11,830,813.74. This trade represents a 9.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 1,152 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $434.03 per share, with a total value of $500,002.56. Following the transaction, the director directly owned 1,152 shares of the company's stock, valued at $500,002.56. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 5,974 shares of company stock worth $2,576,775 in the last 90 days. 0.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SPGI shares. Wells Fargo & Company lowered their target price on S&P Global from $530.00 to $525.00 and set an "overweight" rating on the stock in a report on Monday, April 13th. JPMorgan Chase & Co. boosted their price target on S&P Global from $535.00 to $555.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. Zacks Research lowered S&P Global from a "hold" rating to a "strong sell" rating in a research note on Monday, July 20th. Wall Street Zen upgraded S&P Global to a "hold" rating in a research report on Saturday, July 4th. Finally, UBS Group reduced their target price on shares of S&P Global from $550.00 to $525.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Eighteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $533.59.

S&P Global Trading Up 1.5%

Shares of SPGI opened at $426.19 on Friday. S&P Global Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $579.05. The company has a market capitalization of $126.15 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. The stock has a fifty day moving average of $423.27 and a two-hundred day moving average of $442.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 0.68.

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

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be issued a $0.97 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 annualized dividend and a yield of 0.9%. S&P Global's payout ratio is 24.56%.

S&P Global Company 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.

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