Glenview Trust co Sells 692 Shares of S&P Global Inc. $SPGI

Key Points

• Glenview Trust Co reduced its stake in S&P Global Inc. by 2.5%, selling 692 shares in the first quarter, leaving them with 27,112 shares valued at $13.78 million.
• S&P Global recently reported earnings of $4.43 per share, exceeding analysts' expectations, with quarterly revenue rising 5.8% year-over-year to $3.76 billion.
• The company has announced a quarterly dividend of $0.96 per share, which reflects an annualized yield of 0.7% and a dividend payout ratio of 29.54%.

Glenview Trust co cut its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,112 shares of the business services provider's stock after selling 692 shares during the quarter. Glenview Trust co's holdings in S&P Global were worth $13,776,000 as of its most recent filing with the Securities & Exchange Commission.

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

S&P Global Trading Up 0.3%

NYSE:SPGI opened at $547.51 on Wednesday. The company has a market cap of $167.16 billion, a P/E ratio of 42.12, a P/E/G ratio of 2.92 and a beta of 1.20. The stock's fifty day moving average price is $541.94 and its two-hundred day moving average price is $514.81. S&P Global Inc. has a 1 year low of $427.14 and a 1 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 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 for the quarter, compared to the consensus estimate of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

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

Analyst Ratings Changes

SPGI has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Argus upgraded S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. BMO Capital Markets upped their price objective on S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Barclays upped their price objective on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Oppenheimer upped 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, S&P Global presently has an average rating of "Buy" and a consensus target price of $611.69.

S&P Global 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.

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