NewEdge Wealth LLC Sells 4,391 Shares of S&P Global Inc. $SPGI

Key Points

• NewEdge Wealth LLC reduced its S&P Global stake by 61.6% in the first quarter, selling 4,391 shares and retaining 2,735 shares valued at approximately $1.16 million.
• Institutional investors own 87.17% of S&P Global, while analysts maintain a broadly positive outlook: 18 rate it Buy, with an average target price of $533.59 versus the reported share price of $426.19.
• S&P Global exceeded quarterly earnings and revenue estimates, reporting $4.97 EPS and $4.17 billion in revenue. The company also declared a quarterly dividend of $0.97, equivalent to a 0.9% annual yield.

NewEdge Wealth LLC lessened its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 61.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,735 shares of the business services provider's stock after selling 4,391 shares during the period. NewEdge Wealth LLC's holdings in S&P Global were worth $1,163,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SPGI. Norges Bank bought a new position in S&P Global in the 4th quarter valued at $2,398,991,000. Cardano Risk Management B.V. raised its stake in shares of S&P Global by 858.3% during the 4th quarter. Cardano Risk Management B.V. now owns 1,760,230 shares of the business services provider's stock worth $919,879,000 after purchasing an additional 1,576,544 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of S&P Global by 2,256.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,446,633 shares of the business services provider's stock worth $755,996,000 after buying an additional 1,385,249 shares during the last quarter. Capital International Investors grew its position in S&P Global by 43.6% during the fourth quarter. Capital International Investors now owns 3,037,912 shares of the business services provider's stock valued at $1,587,910,000 after buying an additional 922,433 shares during the period. Finally, TCI Fund Management Ltd. grew its position in S&P Global by 5.4% during the fourth quarter. TCI Fund Management Ltd. now owns 11,790,310 shares of the business services provider's stock valued at $6,161,498,000 after buying an additional 600,440 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of S&P Global from $535.00 to $555.00 and gave the stock an "overweight" rating in a research report on Monday, July 20th. BMO Capital Markets increased their target price on shares of S&P Global from $495.00 to $505.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Rothschild & Co Redburn decreased their price target on shares of S&P Global from $540.00 to $520.00 and set a "buy" rating for the company in a research note on Thursday, June 18th. Royal Bank Of Canada lowered their price target on shares of S&P Global from $560.00 to $510.00 and set an "outperform" rating on the stock in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of S&P Global in a research note on Monday, July 6th. Eighteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, S&P Global presently has an average rating of "Moderate Buy" and an average target price of $533.59.

S&P Global Trading Down 0.0%

Shares of S&P Global stock opened at $426.19 on Monday. The stock has a market capitalization of $126.15 billion, a P/E ratio of 26.97, a P/E/G ratio of 2.16 and a beta of 1.08. S&P Global Inc. has a 52-week low of $381.61 and a 52-week high of $579.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 0.68. The stock's 50-day simple moving average is $423.27 and its 200 day simple moving average is $441.46.

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 for the quarter, topping analysts' consensus estimates of $4.82 by $0.15. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.08 billion. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The company's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned $4.37 earnings per share. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. As a group, research analysts anticipate that S&P Global Inc. will post 18.37 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.88 annualized dividend and a yield of 0.9%. S&P Global's dividend payout ratio (DPR) is 24.56%.

Insider Buying and Selling

In related news, CEO Catherine R. Clay bought 2,500 shares of the company's stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $431.39 per share, for a total transaction of $1,078,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,500 shares in the company, valued at approximately $1,078,475. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 1,152 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was bought at an average cost of $434.03 per share, with a total value of $500,002.56. Following the completion of the acquisition, the director directly owned 1,152 shares of the company's stock, valued at approximately $500,002.56. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 5,974 shares of company stock valued at $2,576,775. Company 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.

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