Fifth Third Bancorp Sells 1,450 Shares of S&P Global Inc. $SPGI

Key Points

• Fifth Third Bancorp reduced its stake in S&P Global Inc. by 1.3%, owning 109,334 shares worth approximately $57.65 million after selling 1,450 shares in the second quarter.
• Analysts have optimistic views on S&P Global, with multiple firms raising their price targets, leading to a consensus rating of "Buy" and an average price target of $614.46.
• S&P Global announced a quarterly dividend of $0.96 per share, reflecting an annual yield of 0.8%, scheduled for payment on December 10th.

Fifth Third Bancorp trimmed its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,334 shares of the business services provider's stock after selling 1,450 shares during the quarter. Fifth Third Bancorp's holdings in S&P Global were worth $57,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Costello Asset Management INC bought a new position in S&P Global during the 1st quarter worth approximately $26,000. Cheviot Value Management LLC bought a new position in S&P Global during the 1st quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group bought a new position in S&P Global during the 2nd quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC bought a new position in S&P Global during the 1st quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC grew its position in S&P Global by 103.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after acquiring an additional 31 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SPGI shares. UBS Group raised their price target on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. JPMorgan Chase & Co. increased their price objective on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Citigroup increased their price objective on S&P Global from $600.00 to $635.00 and gave the stock a "buy" rating in a report on Monday, September 15th. 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 investment analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $614.46.

S&P Global Trading Down 1.9%

SPGI opened at $496.09 on Wednesday. The stock has a market cap of $151.46 billion, a PE ratio of 38.16, a PEG ratio of 2.71 and a beta of 1.20. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $541.95 and a 200-day moving average of $515.14. 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 released its earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.25. The company had revenue of $3.76 billion during 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%.The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.04 EPS. 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 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $0.96 per share. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a yield of 0.8%. 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.

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