Federated Hermes Inc. Has $103.07 Million Stock Position in S&P Global Inc. (NYSE:SPGI)

Key Points

• Federated Hermes Inc. has reduced its holdings in S&P Global Inc. by 1.2%, now owning approximately 202,848 shares valued at $103 million.
• Analysts remain optimistic about S&P Global, with 14 out of 17 analysts rating the stock as a "buy" or "strong buy" and a current average price target of $601.07.
• S&P Global recently announced a quarterly dividend of $0.96 per share, set to be paid on September 10th, representing a 0.72% yield.

Federated Hermes Inc. decreased its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,848 shares of the business services provider's stock after selling 2,361 shares during the quarter. Federated Hermes Inc. owned 0.07% of S&P Global worth $103,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Stegent Equity Advisors Inc. lifted its holdings in S&P Global by 3.1% in the 1st quarter. Stegent Equity Advisors Inc. now owns 659 shares of the business services provider's stock valued at $335,000 after purchasing an additional 20 shares in the last quarter. Integrated Investment Consultants LLC grew its position in S&P Global by 2.8% in the 1st quarter. Integrated Investment Consultants LLC now owns 762 shares of the business services provider's stock valued at $387,000 after acquiring an additional 21 shares in the last quarter. Invenio Wealth Partners LLC grew its position in S&P Global by 4.0% in the 4th quarter. Invenio Wealth Partners LLC now owns 574 shares of the business services provider's stock valued at $286,000 after acquiring an additional 22 shares in the last quarter. Retirement Planning Group LLC grew its position 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 worth $2,870,000 after buying an additional 22 shares in the last quarter. Finally, Burford Brothers Inc. lifted its stake in S&P Global by 2.8% during the first quarter. Burford Brothers Inc. now owns 794 shares of the business services provider's stock worth $403,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Insider Buying and Selling at S&P Global

In related news, EVP Sally Moore sold 500 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the sale, the executive vice president directly owned 5,131 shares in the company, valued at $2,619,016.33. This represents a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company's stock.

S&P Global Stock Down 0.1%

Shares of NYSE:SPGI traded down $0.46 on Wednesday, reaching $530.33. The company had a trading volume of 1,263,670 shares, compared to its average volume of 853,609. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $545.39. The stock has a 50-day moving average price of $518.79 and a 200 day moving average price of $508.02. The stock has a market capitalization of $162.65 billion, a P/E ratio of 41.66, a P/E/G ratio of 2.56 and a beta of 1.19. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.14. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.01 EPS. On average, equities analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be issued a $0.96 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.72%. S&P Global's dividend payout ratio (DPR) is 30.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target 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. UBS Group upped their price objective on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Oppenheimer increased their target price on S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Stifel Nicolaus cut their price objective on S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Argus upgraded S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $601.07.

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.