Corsair Capital Management L.P. Decreases Stock Holdings in S&P Global Inc. $SPGI

Key Points

• Corsair Capital Management L.P. reduced its stake in S&P Global Inc. by 56.0% during the first quarter, lowering its holdings to 8,344 shares worth approximately $4.24 million.
• Various institutional investors have adjusted their positions in S&P Global, with notable increases from Vanguard Group Inc. (0.4%) and Price T Rowe Associates (26.4%).
• S&P Global reported earnings of $4.43 EPS for the last quarter, exceeding estimates, and the firm declared a quarterly dividend of $0.96, indicating a stable financial performance.

Corsair Capital Management L.P. lowered its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 56.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,344 shares of the business services provider's stock after selling 10,636 shares during the quarter. S&P Global comprises 1.1% of Corsair Capital Management L.P.'s holdings, making the stock its 17th largest holding. Corsair Capital Management L.P.'s holdings in S&P Global were worth $4,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SPGI. Vanguard Group Inc. grew its position in shares of S&P Global by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider's stock worth $15,130,711,000 after buying an additional 108,729 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in S&P Global by 13.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,071,407 shares of the business services provider's stock valued at $1,529,653,000 after acquiring an additional 357,790 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in S&P Global by 26.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock worth $1,497,493,000 after purchasing an additional 614,809 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of S&P Global by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,762,187 shares of the business services provider's stock worth $1,403,468,000 after purchasing an additional 97,324 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of S&P Global by 11.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,184,312 shares of the business services provider's stock valued at $1,087,853,000 after purchasing an additional 224,294 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPGI. Morgan Stanley boosted their target price on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Argus upgraded shares of S&P Global to a "strong-buy" rating in a report on Friday, May 16th. 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 research note on Monday, July 21st. BMO Capital Markets upped their price target on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Oppenheimer lifted their price objective on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. 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 data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $611.69.

S&P Global Stock Performance

NYSE:SPGI opened at $547.67 on Friday. The stock has a market capitalization of $167.20 billion, a PE ratio of 42.13, a P/E/G ratio of 2.94 and a beta of 1.19. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The company has a fifty day moving average of $538.10 and a two-hundred day moving average of $514.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.25. The company had revenue of $3.76 billion for the quarter, compared to analysts' expectations of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.S&P Global's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, research analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) 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.

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.