Corebridge Financial Inc. Cuts Stake in S&P Global Inc. $SPGI

Key Points

• Corebridge Financial Inc. decreased its holdings in S&P Global Inc. by 4.6% in Q1, bringing its total shares to 84,589, valued at approximately $42.98 million.
• S&P Global recently reported earnings of $4.43 per share, exceeding estimates, and set FY 2025 guidance at 17.000-17.250 EPS with revenues up 5.8% year-over-year.
• The company announced a quarterly dividend of $0.96 per share, with an ex-dividend date of August 26 and a current yield of 0.7%.

Corebridge Financial Inc. lowered its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,589 shares of the business services provider's stock after selling 4,055 shares during the period. Corebridge Financial Inc.'s holdings in S&P Global were worth $42,980,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SPGI. Brighton Jones LLC boosted its stake in S&P Global by 4.7% during the fourth quarter. Brighton Jones LLC now owns 3,176 shares of the business services provider's stock worth $1,582,000 after acquiring an additional 143 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in S&P Global by 3.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 74,479 shares of the business services provider's stock worth $37,093,000 after acquiring an additional 2,413 shares in the last quarter. GHE LLC boosted its stake in S&P Global by 2.1% during the fourth quarter. GHE LLC now owns 13,504 shares of the business services provider's stock worth $6,725,000 after acquiring an additional 274 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in 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 worth $2,156,000 after acquiring an additional 352 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in S&P Global by 2.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 8,788 shares of the business services provider's stock worth $4,377,000 after acquiring an additional 220 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on SPGI. Robert W. Baird decreased their target price on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Morgan Stanley lifted their target price on shares of S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Barclays lifted their target price on shares of S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets lifted their target price on shares of S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, S&P Global presently has an average rating of "Buy" and an average target price of $611.69.

S&P Global Stock Performance

NYSE SPGI traded down $2.20 during trading hours on Thursday, hitting $547.67. 1,033,463 shares of the company's stock traded hands, compared to its average volume of 1,257,308. The business's fifty day moving average price is $537.20 and its two-hundred day moving average price is $514.49. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $167.20 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.94 and a beta of 1.19. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05.

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 (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.25. The company 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 firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Equities research analysts predict that S&P Global Inc. will post 17.11 EPS for the current 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 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 dividend payout ratio (DPR) is presently 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.