Perpetual Ltd Sells 148,167 Shares of S&P Global Inc. $SPGI

Key Points

• Perpetual Ltd significantly reduced its holdings in S&P Global Inc. by 99.4%, selling 148,167 shares to own just 847 shares worth approximately $447,000 after the second quarter.
• Several analysts have upgraded their price targets for S&P Global, with the average target price now around $614.46, indicating a general optimism about the stock's future performance.
• S&P Global announced a quarterly dividend of $0.96 per share, which will be paid on December 10, reflecting a 0.8% yield and a payout ratio of 29.54%.

Perpetual Ltd cut its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 99.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 847 shares of the business services provider's stock after selling 148,167 shares during the period. Perpetual Ltd's holdings in S&P Global were worth $447,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cheviot Value Management LLC bought a new position in shares of S&P Global during the 1st quarter worth approximately $26,000. Costello Asset Management INC bought a new position in shares of S&P Global during the 1st quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of S&P Global during the 2nd quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC bought a new position in shares of S&P Global during the 1st quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of S&P Global by 103.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after buying an additional 31 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

S&P Global Trading Down 0.2%

Shares of SPGI stock traded down $1.03 during trading hours on Monday, reaching $506.13. The company's stock had a trading volume of 1,754,447 shares, compared to its average volume of 1,222,694. The stock has a market capitalization of $154.52 billion, a P/E ratio of 38.93, a P/E/G ratio of 2.71 and a beta of 1.20. S&P Global Inc. has a one year low of $427.14 and a one year high of $579.05. The firm's fifty day simple moving average is $542.96 and its 200 day simple moving average is $515.21. 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 issued its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Equities research analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPGI. Barclays increased their price target on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Morgan Stanley raised their target price on S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. BMO Capital Markets raised their target price 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. Finally, Wells Fargo & Company raised their target price on S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $614.46.

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.