Modern Wealth Management LLC Takes $267,000 Position in S&P Global Inc. $SPGI

Key Points

• Modern Wealth Management LLC has initiated a position in S&P Global Inc. worth approximately $267,000 by acquiring 525 shares during the first quarter.
• S&P Global reported a quarterly earnings per share of $4.43, surpassing analysts' expectations of $4.18, with a revenue increase of 5.8% year-over-year.
• Institutional investors and hedge funds hold 87.17% of S&P Global's stock, indicating significant backing from large financial entities.

Modern Wealth Management LLC bought a new stake in S&P Global Inc. (NYSE:SPGI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 525 shares of the business services provider's stock, valued at approximately $267,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new stake in S&P Global in the first quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new stake in S&P Global in the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in S&P Global in the first quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC raised its holdings in S&P Global by 103.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock valued at $31,000 after acquiring an additional 31 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in S&P Global in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Stock Performance

NYSE:SPGI opened at $543.51 on Tuesday. The firm's fifty day moving average price is $543.18 and its 200 day moving average price is $515.09. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $579.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $165.93 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 2.91 and a beta of 1.20.

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

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is 29.54%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SPGI shares. Wells Fargo & Company upped their target price on shares of S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Oppenheimer upped their target price on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Morgan Stanley upped their target price on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Barclays upped their target price on shares of S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $614.38.

S&P Global Company 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.

Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc. (NYSE:SPGI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.