Principal Financial Group Inc. Acquires 162,654 Shares of S&P Global Inc. $SPGI

Key Points

• Principal Financial Group increased its S&P Global stake by 47.2% in the first quarter, buying 162,654 additional shares and bringing its total holding to 507,130 shares worth about $215.7 million.
• S&P Global reported strong quarterly results, with earnings of $4.97 per share and revenue of $4.17 billion, both ahead of analyst estimates; revenue also rose 10.4% year over year.
• The company announced a quarterly dividend of $0.97 per share, payable September 10, alongside continued positive analyst sentiment, with a consensus rating of “Moderate Buy” and an average price target of $532.

Principal Financial Group Inc. grew its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 47.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 507,130 shares of the business services provider's stock after acquiring an additional 162,654 shares during the quarter. Principal Financial Group Inc. owned 0.17% of S&P Global worth $215,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Schwartz Investment Counsel Inc. boosted its holdings in S&P Global by 9.2% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 177,550 shares of the business services provider's stock valued at $75,519,000 after purchasing an additional 15,000 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of S&P Global by 87.5% during the 1st quarter. Chicago Partners Investment Group LLC now owns 4,503 shares of the business services provider's stock worth $2,022,000 after purchasing an additional 2,101 shares during the period. GHE LLC raised its position in shares of S&P Global by 73.2% during the first quarter. GHE LLC now owns 20,748 shares of the business services provider's stock valued at $8,825,000 after buying an additional 8,767 shares during the last quarter. Hibernia Wealth Partners LLC raised its position in shares of S&P Global by 3.3% during the first quarter. Hibernia Wealth Partners LLC now owns 754 shares of the business services provider's stock valued at $321,000 after buying an additional 24 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of S&P Global by 18.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 67,793 shares of the business services provider's stock valued at $28,835,000 after buying an additional 10,320 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

S&P Global Price Performance

NYSE:SPGI opened at $439.14 on Wednesday. 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 company has a 50-day moving average of $419.75 and a 200-day moving average of $446.36. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $579.05. The company has a market capitalization of $129.99 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 2.09 and a beta of 1.08.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share for the quarter, beating analysts' consensus estimates of $4.82 by $0.15. The business had revenue of $4.17 billion for the quarter, compared to analysts' expectations of $4.08 billion. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.37 earnings per share. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. As a group, equities research analysts anticipate that S&P Global Inc. will post 19.49 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

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

Insider Activity

In related news, CEO Catherine R. Clay acquired 2,500 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $431.39 per share, for a total transaction of $1,078,475.00. Following the purchase, the chief executive officer owned 2,500 shares in the company, valued at approximately $1,078,475. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Martina Cheung bought 2,322 shares of the company's stock in a transaction dated Wednesday, April 29th. The stock was bought at an average cost of $429.93 per share, with a total value of $998,297.46. Following the completion of the acquisition, the chief executive officer owned 27,518 shares in the company, valued at $11,830,813.74. This represents a 9.22% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 5,974 shares of company stock worth $2,576,775. Company insiders own 0.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPGI. Rothschild & Co Redburn decreased their target price on S&P Global from $540.00 to $520.00 and set a "buy" rating on the stock in a research report on Thursday, June 18th. Mizuho upped their price target on S&P Global from $551.00 to $554.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. UBS Group reduced their price objective on S&P Global from $550.00 to $525.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Weiss Ratings reissued a "hold (c)" rating on shares of S&P Global in a report on Monday, July 6th. Finally, Jefferies Financial Group boosted their price objective on S&P Global from $500.00 to $535.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Seventeen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, S&P Global currently has a consensus rating of "Moderate Buy" and an average price target of $532.00.

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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