QRG Capital Management Inc. Buys 2,087 Shares of S&P Global Inc. $SPGI

Key Points

• QRG Capital Management Inc. increased its holdings in S&P Global Inc. by 8.2%, acquiring an additional 2,087 shares in the second quarter, bringing their total to 27,480 shares, valued at $14.49 million.
• S&P Global reported earnings of $4.43 per share for the last quarter, exceeding analysts' expectations of $4.18, with a revenue of $3.76 billion.
• The company announced a quarterly dividend of $0.96 per share, with an ex-dividend date set for November 25th, representing a yield of 0.8%.

QRG Capital Management Inc. raised its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,480 shares of the business services provider's stock after purchasing an additional 2,087 shares during the quarter. QRG Capital Management Inc.'s holdings in S&P Global were worth $14,490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ascent Group LLC lifted its position in S&P Global by 0.4% in the second quarter. Ascent Group LLC now owns 9,051 shares of the business services provider's stock valued at $4,772,000 after purchasing an additional 40 shares during the last quarter. Asset Advisors Investment Management LLC lifted its position in S&P Global by 28.5% in the second quarter. Asset Advisors Investment Management LLC now owns 4,198 shares of the business services provider's stock valued at $2,214,000 after purchasing an additional 932 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in S&P Global by 11.0% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,758 shares of the business services provider's stock valued at $2,509,000 after purchasing an additional 473 shares during the last quarter. Synergy Asset Management LLC lifted its position in S&P Global by 4.1% in the second quarter. Synergy Asset Management LLC now owns 12,625 shares of the business services provider's stock valued at $6,657,000 after purchasing an additional 497 shares during the last quarter. Finally, Mattern Capital Management LLC lifted its position in S&P Global by 1.2% in the second quarter. Mattern Capital Management LLC now owns 21,166 shares of the business services provider's stock valued at $11,161,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

S&P Global Price Performance

Shares of SPGI stock opened at $479.88 on Friday. The stock has a market cap of $146.51 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.56 and a beta of 1.19. The business's fifty day moving average is $535.36 and its 200 day moving average is $515.03. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. 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 (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, topping the consensus estimate of $4.18 by $0.25. The company had revenue of $3.76 billion for the quarter, compared to analysts' expectations of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Research analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. S&P Global's payout ratio is 29.54%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SPGI shares. UBS Group boosted their target price 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. Seaport Res Ptn raised S&P Global to a "strong-buy" rating in a research note on Wednesday. Citigroup boosted their target price on S&P Global from $600.00 to $635.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Barclays boosted their target price on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley boosted their target price 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. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to data from MarketBeat.com, S&P Global presently has a consensus rating of "Buy" and an average price target of $614.46.

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.

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