Federation des caisses Desjardins du Quebec Buys 23,903 Shares of S&P Global Inc. $SPGI

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in S&P Global Inc. by 31.2% in the first quarter, bringing its total holdings to over $51 million in value.
• S&P Global reported earnings of $4.43 per share for the last quarter, exceeding expectations, with revenue of $3.76 billion, up 5.8% from the previous year.
• The company declared a quarterly dividend of $0.96 per share, to be paid on September 10th, representing an annualized yield of 0.7%.

Federation des caisses Desjardins du Quebec raised its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 31.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,545 shares of the business services provider's stock after purchasing an additional 23,903 shares during the period. Federation des caisses Desjardins du Quebec's holdings in S&P Global were worth $51,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new position in shares of S&P Global during the 4th quarter valued at about $25,000. Cheviot Value Management LLC purchased a new stake in shares of S&P Global in the 1st quarter valued at $26,000. Costello Asset Management INC bought a new position in shares of S&P Global during the 1st quarter valued at $26,000. Smallwood Wealth Investment Management LLC purchased a new position in S&P Global in the 1st quarter worth $28,000. Finally, CBIZ Investment Advisory Services LLC lifted its stake 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 worth $31,000 after purchasing an additional 31 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Oppenheimer raised their price objective on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. BMO Capital Markets raised their price target on S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley boosted their price objective on S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their price objective on shares of S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Barclays increased their price objective on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, S&P Global has an average rating of "Buy" and a consensus target price of $611.69.

S&P Global Stock Down 0.5%

SPGI stock traded down $2.65 on Friday, reaching $537.61. 920,331 shares of the company traded hands, compared to its average volume of 1,267,291. The firm has a fifty day simple moving average of $540.83 and a 200-day simple moving average of $514.87. The company has a market cap of $164.13 billion, a P/E ratio of 41.35, a price-to-earnings-growth ratio of 2.89 and a beta of 1.20. S&P Global Inc. has a one year low of $427.14 and a one year high of $579.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $3.76 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. 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 company also recently disclosed 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. 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 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.