Manning & Napier Advisors LLC Trims Stake in S&P Global Inc. $SPGI

Key Points

• Manning & Napier Advisors trimmed its S&P Global stake by 7% in the fourth quarter, selling 13,024 shares and leaving it with 172,209 shares valued at about $90.9 million.
• S&P Global beat earnings and revenue expectations in its latest quarterly report, posting EPS of $4.97 versus $4.82 expected and revenue of $4.17 billion, up 10.4% year over year.
• Analysts remain broadly positive on the stock, with a consensus rating of “Buy” and an average price target of $550, even though some firms recently cut their targets and one downgraded the shares to Hold.

Manning & Napier Advisors LLC lessened its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,209 shares of the business services provider's stock after selling 13,024 shares during the quarter. Manning & Napier Advisors LLC owned 0.06% of S&P Global worth $90,873,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SPGI. YANKCOM Partnership raised its position in S&P Global by 7.9% in the 4th quarter. YANKCOM Partnership now owns 259 shares of the business services provider's stock worth $135,000 after purchasing an additional 19 shares during the period. LeConte Wealth Management LLC boosted its position in shares of S&P Global by 4.1% during the fourth quarter. LeConte Wealth Management LLC now owns 511 shares of the business services provider's stock valued at $267,000 after buying an additional 20 shares during the period. Elwood & Goetz Wealth Advisory Group LLC grew its stake in shares of S&P Global by 3.3% during the fourth quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 632 shares of the business services provider's stock valued at $330,000 after buying an additional 20 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its stake in shares of S&P Global by 15.6% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 148 shares of the business services provider's stock valued at $77,000 after buying an additional 20 shares during the last quarter. Finally, Forbes J M & Co. LLP raised its holdings in shares of S&P Global by 3.5% in the third quarter. Forbes J M & Co. LLP now owns 627 shares of the business services provider's stock worth $305,000 after buying an additional 21 shares during the period. 87.17% of the stock is currently owned by institutional investors.

S&P Global Stock Performance

SPGI stock opened at $419.85 on Friday. S&P Global Inc. has a 1-year low of $381.61 and a 1-year high of $579.05. The business has a 50-day moving average price of $431.09 and a 200 day moving average price of $472.16. The company has a market capitalization of $124.27 billion, a P/E ratio of 26.57, a PEG ratio of 1.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.68 and a quick ratio of 0.68.

S&P Global (NYSE:SPGI - Get Free Report) last issued its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.15. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The company had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same period in the prior year, the business earned $4.37 EPS. The firm's quarterly revenue was up 10.4% on a year-over-year basis. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. As a group, equities research analysts forecast that S&P Global Inc. will post 19.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada decreased their price target on S&P Global from $620.00 to $560.00 and set an "outperform" rating for the company in a research note on Wednesday, February 11th. Weiss Ratings lowered S&P Global from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, March 11th. Stifel Nicolaus decreased their target price on S&P Global from $599.00 to $489.00 and set a "buy" rating for the company in a research report on Wednesday, February 11th. Jefferies Financial Group boosted their target price on shares of S&P Global from $500.00 to $535.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Finally, Morgan Stanley upped their price target on shares of S&P Global from $556.00 to $557.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $550.00.

Insider Activity

In other S&P Global news, CEO Martina Cheung acquired 2,322 shares of the business's stock in a transaction that occurred on Wednesday, April 29th. The shares were bought at an average cost of $429.93 per share, with a total value of $998,297.46. Following the completion of the acquisition, the chief executive officer directly owned 27,518 shares in the company, valued at $11,830,813.74. This represents a 9.22% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Edward Jr. Moritz acquired 1,152 shares of S&P Global stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average cost of $434.03 per share, with a total value of $500,002.56. Following the purchase, the director directly owned 1,152 shares of the company's stock, valued at $500,002.56. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 5,974 shares of company stock worth $2,576,775. Corporate insiders own 0.03% of the company's stock.

S&P Global Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.