Riverbridge Partners LLC Trims Stock Position in S&P Global Inc. $SPGI

Key Points

• Riverbridge Partners LLC has reduced its stake in S&P Global Inc. by 2.8%, holding 167,416 shares valued at approximately $88.3 million, which represents 1.4% of its investment portfolio.
• S&P Global reported earnings of $4.43 per share, exceeding analysts' estimates of $4.18, along with revenue of $3.76 billion for the last quarter, showing a 5.8% year-over-year increase.
• Barclays, UBS, and JPMorgan have all increased their target prices for S&P Global stock, which now has a consensus rating of "Buy" and a target price of $614.46.

Riverbridge Partners LLC cut its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 167,416 shares of the business services provider's stock after selling 4,836 shares during the period. S&P Global makes up 1.4% of Riverbridge Partners LLC's investment portfolio, making the stock its 24th biggest holding. Riverbridge Partners LLC owned 0.05% of S&P Global worth $88,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new stake in S&P Global during the 1st quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new position in S&P Global during the 1st quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in S&P Global during the 2nd quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new position in S&P Global during the 1st quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC increased its position in S&P Global by 103.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after purchasing an additional 31 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Performance

SPGI opened at $490.09 on Thursday. The stock has a market cap of $149.62 billion, a P/E ratio of 37.70, a P/E/G ratio of 2.66 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The stock's 50 day simple moving average is $541.27 and its 200 day simple moving average is $514.97. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $579.05.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. The business 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 company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, equities analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays boosted their target price on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. UBS Group boosted their target price on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their target price on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. BMO Capital Markets boosted their target price on S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to data from MarketBeat, S&P Global presently has a consensus rating of "Buy" and a consensus target price of $614.46.

S&P Global Company 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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