Harbor Investment Advisory LLC Cuts Stake in S&P Global Inc. $SPGI

Key Points

• Harbor Investment Advisory LLC reduced its stake in S&P Global Inc. by 17.1%, holding 2,898 shares after selling 596 shares during the 2nd quarter, valued at approximately $1,528,000.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, made significant adjustments to their positions in S&P Global, raising holdings dramatically in the first quarter of 2023.
• S&P Global's recent quarterly earnings exceeded analysts' expectations, reporting $4.43 earnings per share and $3.76 billion in revenue, with a net margin of 27.30%.

Harbor Investment Advisory LLC reduced its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 17.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,898 shares of the business services provider's stock after selling 596 shares during the quarter. Harbor Investment Advisory LLC's holdings in S&P Global were worth $1,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SPGI. Nuveen LLC acquired a new stake in shares of S&P Global during the first quarter worth $1,103,665,000. GAMMA Investing LLC lifted its stake 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 worth $1,086,877,000 after buying an additional 2,135,599 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake 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 worth $826,819,000 after buying an additional 670,392 shares during the period. Price T Rowe Associates Inc. MD lifted its stake 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 worth $1,497,493,000 after buying an additional 614,809 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of S&P Global during the fourth quarter worth $238,503,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SPGI shares. Barclays lifted their price objective on shares of S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. BMO Capital Markets boosted their target price on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their target price 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. Morgan Stanley boosted their target price on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. One equities 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $611.69.

S&P Global Trading Down 1.0%

Shares of S&P Global stock opened at $545.26 on Friday. The firm has a 50-day simple moving average of $542.91 and a two-hundred day simple moving average of $515.09. The company has a market cap of $166.47 billion, a P/E ratio of 41.94, a price-to-earnings-growth ratio of 2.95 and a beta of 1.20. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, equities 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th were given a $0.96 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.7%. S&P Global's dividend payout ratio is 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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