Comerica Bank Sells 22,104 Shares of S&P Global Inc. $SPGI

Key Points

• Comerica Bank reduced its holdings in S&P Global Inc. by 22.4% during the first quarter, bringing its total shares to 76,565, valued at approximately $38.90 million.
• S&P Global reported $4.43 EPS for the quarter, exceeding analyst estimates of $4.18, with quarterly revenue reaching $3.76 billion, a 5.8% increase year-over-year.
• The company has declared a quarterly dividend of $0.96 per share, reflecting an annualized yield of 0.7%, with dividends to be paid on September 10th.

Comerica Bank lowered its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 22.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 76,565 shares of the business services provider's stock after selling 22,104 shares during the period. Comerica Bank's holdings in S&P Global were worth $38,902,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted 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 valued at $1,582,000 after acquiring an additional 143 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in S&P Global by 3.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 74,479 shares of the business services provider's stock worth $37,093,000 after purchasing an additional 2,413 shares during the period. GHE LLC lifted its position in S&P Global by 2.1% in the fourth quarter. GHE LLC now owns 13,504 shares of the business services provider's stock valued at $6,725,000 after purchasing an additional 274 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of S&P Global by 8.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,328 shares of the business services provider's stock valued at $2,156,000 after purchasing an additional 352 shares during the period. Finally, Coldstream Capital Management Inc. grew its holdings in shares of S&P Global by 2.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 8,788 shares of the business services provider's stock worth $4,377,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SPGI shares. Oppenheimer boosted their price objective on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Barclays raised their target price on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Argus upgraded S&P Global to a "strong-buy" rating in a report on Friday, May 16th. 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 research report on Monday, July 21st. Finally, Wells Fargo & Company upped their target price on S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $611.69.

S&P Global Stock Down 0.4%

SPGI traded down $2.20 during trading on Thursday, hitting $547.67. 1,033,463 shares of the company's stock traded hands, compared to its average volume of 1,277,016. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05. The company's 50 day simple moving average is $537.20 and its two-hundred day simple moving average is $514.49. The stock has a market capitalization of $167.20 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 2.96 and a beta of 1.19. 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 posted its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.25. The business had revenue of $3.76 billion for the quarter, compared to analysts' expectations of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio is 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.