Rafferty Asset Management LLC Sells 8,752 Shares of S&P Global Inc. $SPGI

Key Points

• Rafferty Asset Management LLC has reduced its stake in S&P Global Inc. by 7.8%, now holding 103,270 shares valued at $52.47 million after selling 8,752 shares.
• Analyst ratings for S&P Global show a consensus "Buy" with a target price of $611.69, while recent reports indicate price target increases from major brokerages, including JPMorgan and Wells Fargo.
• S&P Global announced a quarterly dividend of $0.96 per share, which will be paid on September 10, reflecting a 0.7% dividend yield.

Rafferty Asset Management LLC lowered its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,270 shares of the business services provider's stock after selling 8,752 shares during the period. Rafferty Asset Management LLC's holdings in S&P Global were worth $52,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stegent Equity Advisors Inc. grew its holdings in shares of S&P Global by 3.1% during the first quarter. Stegent Equity Advisors Inc. now owns 659 shares of the business services provider's stock valued at $335,000 after buying an additional 20 shares in the last quarter. Foster Dykema Cabot & Partners LLC grew its holdings in shares of S&P Global by 0.7% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 2,859 shares of the business services provider's stock valued at $1,453,000 after buying an additional 20 shares in the last quarter. Integrated Investment Consultants LLC grew its holdings in shares of S&P Global by 2.8% during the first quarter. Integrated Investment Consultants LLC now owns 762 shares of the business services provider's stock valued at $387,000 after buying an additional 21 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of S&P Global by 8.0% during the first quarter. Hemington Wealth Management now owns 284 shares of the business services provider's stock valued at $144,000 after buying an additional 21 shares in the last quarter. Finally, Retirement Planning Group LLC grew its holdings in shares of S&P Global by 0.4% during the fourth quarter. Retirement Planning Group LLC now owns 5,762 shares of the business services provider's stock valued at $2,870,000 after buying an additional 22 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

S&P Global Stock Up 0.2%

Shares of NYSE:SPGI traded up $1.06 on Friday, reaching $548.61. The company had a trading volume of 886,915 shares, compared to its average volume of 1,274,653. 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. The stock has a market capitalization of $167.49 billion, a P/E ratio of 42.20, a P/E/G ratio of 2.94 and a beta of 1.19. The stock has a 50-day moving average price of $538.10 and a 200 day moving average price of $514.72.

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 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 business had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.65 billion. During the same quarter in the previous year, the firm earned $4.04 EPS. The firm'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. On average, equities analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 currently 29.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SPGI. UBS Group lifted their price target on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. BMO Capital Markets lifted their price target on S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Wells Fargo & Company lifted their price objective on S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Argus raised S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. Finally, Barclays lifted their price objective on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "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.