S&P Global Inc. $SPGI Shares Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its S&P Global stake by 26.9% in the second quarter, acquiring 36,262 additional shares for a total holding valued at approximately $65.8 million. Institutional investors collectively own 87.17% of the company.
• Analyst sentiment remains positive, with 18 Buy ratings, one Hold and one Sell; the stock has a consensus rating of Moderate Buy and an average price target of $523.59.
• S&P Global beat quarterly expectations with adjusted earnings of $4.83 per share and revenue of $4.15 billion, while announcing a quarterly dividend of $0.97 per share, representing a 0.9% annualized yield.

Bank of Nova Scotia increased its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 26.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,875 shares of the business services provider's stock after purchasing an additional 36,262 shares during the quarter. Bank of Nova Scotia owned approximately 0.06% of S&P Global worth $65,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Compass Financial Management LLC purchased a new stake in S&P Global during the second quarter worth approximately $60,000. Weitz Investment Management Inc. boosted its position in S&P Global by 1.4% during the 2nd quarter. Weitz Investment Management Inc. now owns 7,150 shares of the business services provider's stock valued at $2,912,000 after purchasing an additional 100 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of S&P Global by 3.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 117,890 shares of the business services provider's stock worth $48,011,000 after acquiring an additional 3,974 shares during the period. WealthShield Partners LLC lifted its holdings in S&P Global by 6.3% in the second quarter. WealthShield Partners LLC now owns 6,074 shares of the business services provider's stock worth $2,474,000 after purchasing an additional 360 shares during the period. Finally, Farringdon Capital Ltd. bought a new stake in S&P Global during the second quarter worth approximately $3,770,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

SPGI has been the subject of a number of recent analyst reports. Bank of America decreased their price objective on shares of S&P Global from $575.00 to $550.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Mizuho lifted their target price on S&P Global from $551.00 to $554.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Morgan Stanley lowered their price target on shares of S&P Global from $557.00 to $525.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of S&P Global in a report on Monday, July 6th. Finally, The Goldman Sachs Group cut their price target on S&P Global from $539.00 to $490.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. Eighteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $523.59.

S&P Global Price Performance

Shares of SPGI opened at $431.10 on Friday. S&P Global Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $559.44. The firm has a market capitalization of $127.09 billion, a PE ratio of 26.32, a PEG ratio of 1.94 and a beta of 1.07. The company's 50-day moving average is $422.87 and its 200-day moving average is $425.46. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $4.83 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.02. The firm had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.09 billion. S&P Global had a return on equity of 17.74% and a net margin of 31.37%.The company's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.43 EPS. S&P Global has set its FY 2026 guidance at 17.500-17.750 EPS. Equities analysts forecast that S&P Global Inc. will post 17.75 EPS for the current year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 26th. S&P Global's dividend payout ratio (DPR) is currently 23.69%.

S&P Global Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.

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