Capital Investment Counsel LLC Acquires 5,190 Shares of S&P Global Inc. $SPGI

Key Points

• Capital Investment Counsel LLC increased its holdings in S&P Global Inc. by 49.1% during the first quarter, now owning 15,759 shares valued at approximately $8 million.
• Several research analysts have raised their price targets on S&P Global, with the average target now at $611.69, indicating a consensus rating of "Buy."
• S&P Global recently announced a quarterly dividend of $0.96 per share, with an annualized yield of 0.7%.

Capital Investment Counsel LLC raised its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 49.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,759 shares of the business services provider's stock after acquiring an additional 5,190 shares during the period. S&P Global comprises 1.3% of Capital Investment Counsel LLC's holdings, making the stock its 24th biggest holding. Capital Investment Counsel LLC's holdings in S&P Global were worth $8,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new position in S&P Global in the fourth quarter valued at about $25,000. Cheviot Value Management LLC bought a new position in S&P Global in the first quarter valued at about $26,000. Costello Asset Management INC bought a new position in S&P Global in the first quarter valued at about $26,000. Smallwood Wealth Investment Management LLC bought a new position in S&P Global in the first quarter valued at about $28,000. Finally, CBIZ Investment Advisory Services LLC grew its position in S&P Global by 103.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SPGI shares. BMO Capital Markets lifted their target price on S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Argus upgraded S&P Global to a "strong-buy" rating in a report on Friday, May 16th. Oppenheimer boosted their price target on S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Barclays boosted their price target on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, UBS Group boosted their price target on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $611.69.

S&P Global Stock Performance

NYSE:SPGI opened at $548.61 on Monday. The stock's 50-day moving average is $538.99 and its 200-day moving average is $514.47. 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 P/E ratio of 42.20, a price-to-earnings-growth ratio of 2.94 and a beta of 1.20. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating the consensus estimate of $4.18 by $0.25. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The business had revenue of $3.76 billion for the quarter, compared to analysts' expectations of $3.65 billion. During the same period in the prior year, the business posted $4.04 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Equities research analysts anticipate 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. Investors of record on Tuesday, August 26th will be issued a $0.96 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.7%. S&P Global's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.