Meritage Group LP Boosts Holdings in S&P Global Inc. $SPGI

Key Points

• Meritage Group increased its S&P Global stake by 0.6% in the second quarter to 507,635 shares valued at approximately $206.7 million, making SPGI its sixth-largest holding. Institutional investors collectively own 87.17% of the company.
• Analyst sentiment remains positive overall, with 18 Buy ratings, one Hold and one Sell, resulting in a “Moderate Buy” consensus and an average price target of $523.59. However, several firms recently adjusted their targets, including RBC, which lowered its target to $510.
• S&P Global exceeded quarterly expectations with adjusted earnings of $4.83 per share and revenue of $4.15 billion, up 10.4% year over year. The company also declared a quarterly dividend of $0.97 per share, representing a 0.9% yield.

Meritage Group LP grew its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 507,635 shares of the business services provider's stock after acquiring an additional 3,225 shares during the quarter. S&P Global comprises about 8.0% of Meritage Group LP's investment portfolio, making the stock its 6th biggest holding. Meritage Group LP owned 0.17% of S&P Global worth $206,739,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SPGI. Cibc World Market Inc. raised its holdings in shares of S&P Global by 11.5% during the second quarter. Cibc World Market Inc. now owns 26,682 shares of the business services provider's stock valued at $10,278,000 after purchasing an additional 2,752 shares during the last quarter. Covington Investment Advisors Inc. boosted its holdings in S&P Global by 9.7% in the second quarter. Covington Investment Advisors Inc. now owns 34,091 shares of the business services provider's stock worth $13,884,000 after purchasing an additional 3,019 shares during the last quarter. Saranac Partners Ltd purchased a new stake in S&P Global in the second quarter worth approximately $316,000. Polymer Capital Management HK LTD boosted its holdings in S&P Global by 30.0% in the second quarter. Polymer Capital Management HK LTD now owns 2,480 shares of the business services provider's stock worth $1,010,000 after purchasing an additional 572 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in S&P Global by 34.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,188 shares of the business services provider's stock worth $9,036,000 after purchasing an additional 5,731 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on SPGI. Royal Bank Of Canada decreased their target price on shares of S&P Global from $560.00 to $510.00 and set an "outperform" rating for the company in a research note on Tuesday, July 7th. Rothschild & Co Redburn dropped their price target on S&P Global from $540.00 to $520.00 and set a "buy" rating on the stock in a research note on Thursday, June 18th. Zacks Research lowered S&P Global from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. BMO Capital Markets upped their price objective on S&P Global from $495.00 to $505.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Finally, Stifel Nicolaus increased their target price on S&P Global from $489.00 to $521.00 and gave the company a "buy" rating in a report on Friday, July 17th. Eighteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $523.59.

S&P Global Stock Performance

Shares of NYSE SPGI opened at $431.10 on Monday. S&P Global Inc. has a 12-month low of $381.61 and a 12-month high of $559.44. The firm has a market capitalization of $127.09 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.07. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $422.87 and a 200 day moving average of $424.74.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $4.83 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.09 billion. S&P Global had a net margin of 31.37% and a return on equity of 17.74%. The company's quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $4.43 earnings per share. S&P Global has set its FY 2026 guidance at 17.500-17.750 EPS. On average, research analysts anticipate that S&P Global Inc. will post 17.75 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 26th. S&P Global's dividend payout ratio is 23.69%.

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.

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