Logan Capital Management Inc. Trims Stock Position in S&P Global Inc. $SPGI

Key Points

• Logan Capital Management Inc. reduced its stake in S&P Global Inc. by 5.2% during the first quarter, holding 21,488 shares valued at approximately $10.9 million.
• Other institutional investors such as Vanguard Group and UBS AM have recently increased their holdings in S&P Global, contributing to 87.17% of the company's stock being owned by institutional investors.
• S&P Global reported $4.43 EPS for the last quarter, surpassing analyst expectations, while also announcing a quarterly dividend of $0.96 per share to be paid on September 10th.

Logan Capital Management Inc. lowered its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,488 shares of the business services provider's stock after selling 1,174 shares during the quarter. Logan Capital Management Inc.'s holdings in S&P Global were worth $10,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPGI. Peloton Wealth Strategists grew its holdings in shares of S&P Global by 3.0% in the first quarter. Peloton Wealth Strategists now owns 4,400 shares of the business services provider's stock valued at $2,236,000 after purchasing an additional 127 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of S&P Global in the 1st quarter worth $313,000. Ascent Group LLC increased its holdings in shares of S&P Global by 0.5% in the 1st quarter. Ascent Group LLC now owns 9,011 shares of the business services provider's stock worth $4,578,000 after buying an additional 43 shares during the last quarter. Vancity Investment Management Ltd bought a new stake in shares of S&P Global in the 1st quarter worth about $35,205,000. Finally, United Services Automobile Association purchased a new stake in shares of S&P Global during the 1st quarter valued at about $3,692,000. Institutional investors own 87.17% of the company's stock.

S&P Global Stock Down 1.0%

Shares of SPGI traded down $5.62 during mid-day trading on Friday, hitting $545.26. The company's stock had a trading volume of 1,008,379 shares, compared to its average volume of 993,151. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The company's 50-day moving average is $542.91 and its 200-day moving average is $515.19. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $579.05. The firm has a market capitalization of $166.47 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 2.95 and a beta of 1.20.

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

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend 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 payout ratio is 29.54%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SPGI shares. BMO Capital Markets boosted their price objective on S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Barclays lifted their target price on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Argus upgraded S&P Global to a "strong-buy" rating in a report on Friday, May 16th. Oppenheimer lifted their price objective on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company increased 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 note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, S&P Global currently 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.