NorthCrest Asset Manangement LLC Grows Holdings in S&P Global Inc. $SPGI

Key Points

• NorthCrest Asset Management LLC increased its stake in S&P Global Inc. by 39.4% in the second quarter, holding shares worth $1.62 million after purchasing an additional 865 shares.
• S&P Global reported a quarterly earnings per share of $4.43, exceeding analysts' estimates, and had a revenue of $3.76 billion, marking a 5.8% year-over-year increase.
• The company announced a quarterly dividend of $0.96 per share, with an upcoming ex-dividend date of November 25th, representing an annualized yield of 0.8%.

NorthCrest Asset Manangement LLC lifted its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 39.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,061 shares of the business services provider's stock after purchasing an additional 865 shares during the period. NorthCrest Asset Manangement LLC's holdings in S&P Global were worth $1,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in S&P Global by 0.4% in the first quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider's stock worth $15,130,711,000 after purchasing an additional 108,729 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in S&P Global by 3.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,186,250 shares of the business services provider's stock worth $1,618,934,000 after purchasing an additional 114,843 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in S&P Global by 26.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock worth $1,497,493,000 after purchasing an additional 614,809 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in S&P Global by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,762,187 shares of the business services provider's stock worth $1,403,468,000 after purchasing an additional 97,324 shares in the last quarter. Finally, Nuveen LLC bought a new position in S&P Global in the first quarter worth approximately $1,103,665,000. Institutional investors own 87.17% of the company's stock.

S&P Global Stock Performance

Shares of NYSE SPGI traded down $10.25 during midday trading on Tuesday, reaching $495.33. The company had a trading volume of 505,110 shares, compared to its average volume of 1,278,085. The business's 50-day simple moving average is $542.48 and its 200 day simple moving average is $515.27. The stock has a market cap of $151.22 billion, a P/E ratio of 38.19, a P/E/G ratio of 2.71 and a beta of 1.20. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $579.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34.

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

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. S&P Global's dividend payout ratio (DPR) is 29.54%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. BMO Capital Markets increased 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. Oppenheimer increased their price objective on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Citigroup increased their price objective on shares of S&P Global from $600.00 to $635.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Barclays increased their price objective on shares of S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to data from MarketBeat, S&P Global presently has an average rating of "Buy" and an average price target of $614.46.

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.