Park National Corp OH Sells 15,932 Shares of S&P Global Inc. $SPGI

Key Points

• Park National Corp OH reduced its S&P Global stake by 30.7% in the first quarter, selling 15,932 shares and leaving it with 35,994 shares worth about $15.31 million.
• S&P Global’s latest quarter beat expectations, with EPS of $4.97 and revenue of $4.17 billion, while revenue rose 10.4% year over year.
• Analysts remain broadly positive on the stock: 18 Buy ratings and one Hold support a consensus “Moderate Buy” rating, with an average price target of $545.28.

Park National Corp OH cut its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 30.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,994 shares of the business services provider's stock after selling 15,932 shares during the quarter. Park National Corp OH's holdings in S&P Global were worth $15,310,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Joseph Group Capital Management acquired a new stake in S&P Global in the fourth quarter worth $29,000. North Star Investment Management Corp. grew its holdings in shares of S&P Global by 134.6% in the 4th quarter. North Star Investment Management Corp. now owns 61 shares of the business services provider's stock valued at $32,000 after buying an additional 35 shares during the period. Palladiem LLC acquired a new position in shares of S&P Global in the 4th quarter valued at $36,000. Palisade Asset Management LLC bought a new stake in shares of S&P Global in the 3rd quarter valued at $36,000. Finally, Swiss RE Ltd. bought a new stake in shares of S&P Global in the 4th quarter valued at $39,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays restated an "overweight" rating and set a $565.00 target price on shares of S&P Global in a report on Monday, February 23rd. Evercore lowered their price objective on shares of S&P Global from $625.00 to $560.00 and set an "outperform" rating for the company in a research report on Thursday, April 16th. Weiss Ratings lowered shares of S&P Global from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, March 11th. Rothschild & Co Redburn cut their price objective on shares of S&P Global from $540.00 to $520.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Mizuho upped their target price on shares of S&P Global from $551.00 to $554.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Eighteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $545.28.

S&P Global Stock Performance

NYSE SPGI opened at $411.32 on Friday. The firm has a market capitalization of $121.75 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 1.75 and a beta of 1.08. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34. The firm's fifty day moving average price is $423.56 and its two-hundred day moving average price is $456.29. S&P Global Inc. has a 1 year low of $381.61 and a 1 year high of $579.05.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $4.08 billion. S&P Global had a return on equity of 17.26% and a net margin of 30.37%.The business's revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous 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 19.61 EPS for the current year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 29th were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 29th. This represents a $3.88 annualized dividend and a yield of 0.9%. S&P Global's dividend payout ratio (DPR) is presently 24.56%.

Insider Transactions at S&P Global

In related news, Director Robert Edward Jr. Moritz acquired 1,152 shares of the company's stock in a transaction on Thursday, April 30th. The stock was purchased at an average cost of $434.03 per share, with a total value of $500,002.56. Following the acquisition, the director directly owned 1,152 shares of the company's stock, valued at approximately $500,002.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Catherine R. Clay purchased 2,500 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost of $431.39 per share, with a total value of $1,078,475.00. Following the purchase, the chief executive officer owned 2,500 shares of the company's stock, valued at $1,078,475. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 5,974 shares of company stock valued at $2,576,775. 0.03% of the stock is currently owned by corporate insiders.

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.