Fifth Third Bancorp Sells 20,186 Shares of S&P Global Inc. $SPGI

Key Points

• Fifth Third Bancorp reduced its S&P Global stake by 12.1% in the second quarter, selling 20,186 shares and retaining 146,177 shares valued at approximately $59.5 million.
• Analysts remain broadly positive, with 18 Buy ratings, one Hold and one Sell; S&P Global has a “Moderate Buy” consensus rating and an average price target of $523.59.
• S&P Global exceeded quarterly earnings and revenue expectations, reporting $4.83 EPS and $4.15 billion in revenue, while revenue increased 10.4% year over year. The company also declared a quarterly dividend of $0.97 per share, yielding about 0.9% annually.

Fifth Third Bancorp trimmed its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,177 shares of the business services provider's stock after selling 20,186 shares during the quarter. Fifth Third Bancorp's holdings in S&P Global were worth $59,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPGI. Norges Bank acquired a new position in shares of S&P Global during the fourth quarter worth $2,398,991,000. EdgePoint Investment Group Inc. bought a new stake in shares of S&P Global in the first quarter worth $702,911,000. Cardano Risk Management B.V. increased its holdings in S&P Global by 858.3% in the fourth quarter. Cardano Risk Management B.V. now owns 1,760,230 shares of the business services provider's stock valued at $919,879,000 after purchasing an additional 1,576,544 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in S&P Global by 2,256.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,446,633 shares of the business services provider's stock valued at $755,996,000 after purchasing an additional 1,385,249 shares during the period. Finally, Soroban Capital Partners LP raised its position in S&P Global by 260.3% during the 1st quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider's stock worth $718,247,000 after purchasing an additional 1,219,990 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on SPGI shares. Wall Street Zen raised S&P Global to a "hold" rating in a report on Saturday, July 4th. JPMorgan Chase & Co. decreased their price target on S&P Global from $555.00 to $530.00 and set an "overweight" rating for the company in a research note on Wednesday, July 29th. Jefferies Financial Group raised their price objective on S&P Global from $500.00 to $535.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Morgan Stanley cut their price objective on S&P Global from $557.00 to $525.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 7th. Finally, Barclays reduced their target price on S&P Global from $555.00 to $553.00 and set an "overweight" rating on the stock in a report on Wednesday, July 29th. Eighteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $523.59.

S&P Global Price Performance

SPGI stock opened at $418.15 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market cap of $123.27 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.88 and a beta of 1.07. The company's fifty day simple moving average is $422.53 and its 200 day simple moving average is $429.14. S&P Global Inc. has a 12-month low of $381.61 and a 12-month high of $565.28.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $4.83 earnings per share for the quarter, topping analysts' consensus estimates of $4.81 by $0.02. S&P Global had a return on equity of 17.74% and a net margin of 31.37%.The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the business posted $4.43 EPS. The business's revenue was up 10.4% compared to the same quarter last year. S&P Global has set its FY 2026 guidance at 17.500-17.750 EPS. On average, analysts expect that S&P Global Inc. will post 17.75 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given a dividend of $0.97 per share. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 annualized dividend and a dividend yield of 0.9%. S&P Global's dividend payout ratio is presently 23.69%.

About S&P Global

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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