Select Equity Group L.P. Reduces Stock Holdings in S&P Global Inc. $SPGI

Key Points

• Select Equity Group L.P. sold 20,295 shares of S&P Global Inc., reducing its stake by 20.8%, leaving it with 77,279 shares valued at approximately $39.27 million.
• Analysts have raised their price targets for S&P Global, with BMO Capital Markets setting a new target of $621.00, and a consensus target price of $611.69 reflecting a general Buy sentiment.
• S&P Global reported a 5.8% year-over-year revenue increase for the last quarter, posting $4.43 EPS that exceeded analyst expectations, and has set a FY 2025 EPS guidance of 17.000-17.250.

Select Equity Group L.P. decreased its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 20.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,279 shares of the business services provider's stock after selling 20,295 shares during the quarter. Select Equity Group L.P.'s holdings in S&P Global were worth $39,265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new stake in S&P Global in the fourth quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in S&P Global in the first quarter worth approximately $26,000. Costello Asset Management INC purchased a new stake in S&P Global in the first quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in S&P Global in the first quarter worth approximately $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in S&P Global by 103.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Wells Fargo & Company upped their target price 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. Barclays upped their target price on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Oppenheimer increased 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. Finally, BMO Capital Markets increased their price objective on S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $611.69.

S&P Global Trading Up 0.3%

Shares of NYSE:SPGI traded up $1.64 during trading on Tuesday, reaching $547.51. 631,745 shares of the company traded hands, compared to its average volume of 1,003,596. The firm has a market capitalization of $167.16 billion, a price-to-earnings ratio of 42.12, a P/E/G ratio of 2.92 and a beta of 1.20. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $579.05. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The business's fifty day moving average is $541.94 and its 200-day moving average is $514.81.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, topping 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 company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the firm posted $4.04 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. S&P Global's dividend payout ratio (DPR) is presently 29.54%.

About S&P Global

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.