Panagora Asset Management Inc. Sells 46,053 Shares of S&P Global Inc. $SPGI

Key Points

• Panagora Asset Management Inc. has decreased its holdings in S&P Global Inc. by 33.6%, owning 90,823 shares after selling 46,053 shares during the first quarter.
• Wells Fargo & Company has raised the price target for S&P Global shares from $632.00 to $660.00, with a consensus rating of "Buy" among analysts.
• S&P Global reported $4.43 earnings per share for the last quarter, exceeding analysts' expectations, with quarterly revenue of $3.76 billion marking a 5.8% increase year-over-year.

Panagora Asset Management Inc. decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 33.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,823 shares of the business services provider's stock after selling 46,053 shares during the quarter. Panagora Asset Management Inc.'s holdings in S&P Global were worth $46,147,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Graham Capital Management L.P. acquired a new stake in shares of S&P Global during the 4th quarter worth approximately $14,040,000. GAMMA Investing LLC grew its position in shares of S&P Global by 20.2% during the 1st quarter. GAMMA Investing LLC now owns 4,210 shares of the business services provider's stock worth $2,139,000 after buying an additional 708 shares during the period. E Fund Management Co. Ltd. grew its position in shares of S&P Global by 59.7% during the 1st quarter. E Fund Management Co. Ltd. now owns 2,909 shares of the business services provider's stock worth $1,478,000 after buying an additional 1,088 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of S&P Global by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 86,794 shares of the business services provider's stock worth $44,102,000 after buying an additional 1,166 shares during the period. Finally, Alaethes Wealth LLC acquired a new stake in shares of S&P Global during the 4th quarter worth approximately $2,029,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SPGI shares. UBS Group boosted their price objective on shares of S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective 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. Oppenheimer boosted their price objective 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. Argus upgraded shares of S&P Global to a "strong-buy" rating in a report on Friday, May 16th. Finally, Morgan Stanley boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $611.69.

S&P Global Stock Up 0.2%

Shares of S&P Global stock traded up $1.06 on Monday, hitting $548.61. The company had a trading volume of 886,915 shares, compared to its average volume of 1,134,315. The firm has a market capitalization of $167.49 billion, a P/E ratio of 42.20, a P/E/G ratio of 2.94 and a beta of 1.20. S&P Global Inc. has a twelve month low of $427.14 and a twelve month 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 stock has a 50-day moving average of $539.66 and a 200-day moving average of $514.53.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.25. The company 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Research analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio is 29.54%.

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.