S&P Global Inc. (NYSE:SPGI) Stake Lifted by Provident Investment Management Inc.

Key Points

• Provident Investment Management Inc. increased its stake in S&P Global by 6.8%, now holding 11,387 shares valued at approximately $5.79 million, which makes S&P Global its 21st largest investment.
• S&P Global recently reported an EPS of $4.43 for its last quarter, surpassing analyst expectations of $4.18, and saw a quarterly revenue of $3.76 billion, up 5.8% year-over-year.
• The company announced a quarterly dividend of $0.96, with a yield of 0.7%, signaling a stable return for investors amidst its solid financial performance.

Provident Investment Management Inc. increased its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,387 shares of the business services provider's stock after purchasing an additional 730 shares during the quarter. S&P Global makes up approximately 0.5% of Provident Investment Management Inc.'s holdings, making the stock its 21st largest holding. Provident Investment Management Inc.'s holdings in S&P Global were worth $5,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC purchased a new stake in S&P Global in the 4th quarter valued at about $25,000. Cheviot Value Management LLC purchased a new stake in S&P Global in the 1st quarter valued at about $26,000. Costello Asset Management INC purchased a new stake in S&P Global in the 1st quarter valued at about $26,000. Anderson Financial Strategies LLC purchased a new stake in S&P Global in the 4th quarter valued at about $27,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in S&P Global in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

S&P Global Stock Down 0.4%

Shares of SPGI traded down $2.14 during trading on Friday, reaching $556.99. The company's stock had a trading volume of 820,714 shares, compared to its average volume of 1,181,274. The company has a fifty day moving average of $525.43 and a two-hundred day moving average of $511.06. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $566.42. The company has a market cap of $170.05 billion, a price-to-earnings ratio of 42.85, a P/E/G ratio of 2.98 and a beta of 1.19. The company has a quick ratio of 0.90, a current 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 results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the business earned $4.04 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

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 issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's payout ratio is 29.54%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SPGI shares. Oppenheimer lifted their price objective on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Morgan Stanley lifted their price objective on S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird reduced their price objective on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price objective on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, UBS Group lifted their price objective on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $611.69.

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.