KLP Kapitalforvaltning AS Buys 3,600 Shares of S&P Global Inc. $SPGI

Key Points

• KLP Kapitalforvaltning AS increased its ownership of S&P Global shares by 2.9% in Q2, acquiring an additional 3,600 shares to hold a total of 129,638 shares valued at approximately $68.36 million.
• Wall Street analysts have generally positive outlooks for S&P Global, with several firms raising their target prices and a consensus target of $614.46, highlighting strong buy ratings from multiple analysts.
• S&P Global recorded $4.43 EPS in its latest earnings report, exceeding expectations and showing a revenue increase of 5.8% year-over-year, alongside a quarterly dividend announcement of $0.96.

KLP Kapitalforvaltning AS grew its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,638 shares of the business services provider's stock after buying an additional 3,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in S&P Global were worth $68,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SPGI. Cheviot Value Management LLC purchased a new stake in S&P Global during the first quarter valued at $26,000. Costello Asset Management INC bought a new stake in shares of S&P Global during the 1st quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of S&P Global during the 2nd quarter valued at about $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of S&P Global during the 1st quarter valued at about $28,000. Finally, CBIZ Investment Advisory Services LLC lifted its stake in shares of S&P Global by 103.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after purchasing an additional 31 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several recent research reports. Barclays boosted their target price on shares of S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. UBS Group boosted their price objective on shares of S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Morgan Stanley raised their target price on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of S&P Global in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. upped their price target on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $614.46.

S&P Global Trading Down 0.3%

Shares of S&P Global stock opened at $478.28 on Tuesday. 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. The company has a market capitalization of $146.02 billion, a P/E ratio of 36.79, a P/E/G ratio of 2.55 and a beta of 1.19. The company has a fifty day moving average of $534.32 and a 200 day moving average of $515.02.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating the consensus estimate of $4.18 by $0.25. The business 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 revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. On average, sell-side analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global's dividend 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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