First Manhattan CO. LLC. Sells 21,795 Shares of S&P Global Inc. $SPGI

Key Points

• First Manhattan CO. LLC. reduced its stake in S&P Global Inc. by 3.5%, selling 21,795 shares and now holding 608,082 shares, accounting for 0.9% of its investment portfolio.
• S&P Global reported $4.43 EPS for the last quarter, exceeding analyst expectations, and forecasted FY 2025 EPS guidance between 17.000-17.250.
• The company announced a quarterly dividend of $0.96 per share, reflecting an annual yield of 0.7%, with an ex-dividend date of August 26th.

First Manhattan CO. LLC. reduced its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,082 shares of the business services provider's stock after selling 21,795 shares during the quarter. S&P Global accounts for approximately 0.9% of First Manhattan CO. LLC.'s investment portfolio, making the stock its 21st largest holding. First Manhattan CO. LLC. owned approximately 0.20% of S&P Global worth $308,966,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SPGI. Nuveen LLC purchased a new stake in shares of S&P Global during the first quarter worth about $1,103,665,000. GAMMA Investing LLC increased its holdings in shares of S&P Global by 60,982.3% during the first quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock valued at $1,086,877,000 after acquiring an additional 2,135,599 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of S&P Global by 70.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock valued at $826,819,000 after acquiring an additional 670,392 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of S&P Global by 26.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock valued at $1,497,493,000 after acquiring an additional 614,809 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of S&P Global during the fourth quarter valued at about $238,503,000. 87.17% of the stock is currently owned by institutional investors.

S&P Global Price Performance

Shares of NYSE SPGI opened at $548.61 on Monday. The business's 50 day moving average price is $538.99 and its 200 day moving average price is $514.47. The firm has a market cap of $167.49 billion, a P/E ratio of 42.20, a P/E/G ratio of 2.94 and a beta of 1.20. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34.

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

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio is currently 29.54%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays upped their price objective on shares of S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company upped their price objective on shares of S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Morgan Stanley upped their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Argus upgraded S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. One 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, the stock has a consensus rating of "Buy" and a consensus target price of $611.69.

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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