S&P Global Inc. $SPGI Stock Holdings Decreased by Progressive Investment Management Corp

Key Points

• Progressive Investment Management Corp reduced its stake in S&P Global Inc. by 1.8%, holding 27,896 shares valued at approximately $14.17 million, making it the firm's 9th largest holding.
• S&P Global reported a quarterly earnings per share (EPS) of $4.43, exceeding analyst expectations by $0.25, with revenues of $3.76 billion, reflecting a year-over-year increase of 5.8%.
• The firm plans to pay a quarterly dividend of $0.96 on September 10, equating to an annualized yield of 0.7% and representing a payout ratio of 29.54%.

Progressive Investment Management Corp cut its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,896 shares of the business services provider's stock after selling 509 shares during the quarter. S&P Global accounts for 4.0% of Progressive Investment Management Corp's investment portfolio, making the stock its 9th largest holding. Progressive Investment Management Corp's holdings in S&P Global were worth $14,174,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SPGI. Minot DeBlois Advisors LLC bought a new stake in S&P Global during the fourth quarter worth $25,000. Cheviot Value Management LLC purchased a new position in shares of S&P Global during the 1st quarter valued at about $26,000. Costello Asset Management INC purchased a new position in S&P Global in the 1st quarter worth approximately $26,000. Anderson Financial Strategies LLC bought a new stake in shares of S&P Global in the 4th quarter worth approximately $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of S&P Global during the first quarter valued at approximately $28,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Robert W. Baird lowered their price objective on S&P Global from $616.00 to $589.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley upped their price objective on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Stifel Nicolaus decreased their price objective on S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price objective on S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, S&P Global has a consensus rating of "Buy" and an average target price of $611.69.

S&P Global Price Performance

Shares of NYSE:SPGI traded up $4.3970 during trading on Wednesday, reaching $558.8270. 851,186 shares of the company's stock traded hands, compared to its average volume of 1,278,174. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The firm has a market cap of $170.61 billion, a PE ratio of 43.04, a P/E/G ratio of 2.95 and a beta of 1.19. The company has a 50-day simple moving average of $531.39 and a 200-day simple moving average of $512.95.

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

S&P Global Dividend Announcement

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