Eventide Asset Management LLC Increases Stock Position in S&P Global Inc. $SPGI

Key Points

• Eventide Asset Management LLC increased its stake in S&P Global by 5.2% in Q1 2023, owning 18,535 shares valued at $9.41 million.
• Analysts remain optimistic, with price targets for S&P Global ranging from $575 to $660, and 14 analysts rating it a "Buy" or "Strong Buy."
• S&P Global reported earnings of $4.43 per share for the last quarter, surpassing estimates, and also announced a quarterly dividend of $0.96 per share.

Eventide Asset Management LLC increased its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,535 shares of the business services provider's stock after acquiring an additional 913 shares during the period. Eventide Asset Management LLC's holdings in S&P Global were worth $9,411,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SPGI. Minot DeBlois Advisors LLC purchased a new stake in S&P Global during the fourth quarter worth $25,000. Cheviot Value Management LLC purchased a new position in shares of S&P Global in the first quarter valued at $26,000. Costello Asset Management INC acquired a new position in shares of S&P Global during the 1st quarter worth $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of S&P Global in the 1st quarter worth about $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of S&P Global by 103.3% in the 1st 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. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SPGI shares. UBS Group raised their target price on shares of S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Argus upgraded shares of S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. Morgan Stanley raised their price objective on shares of S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. BMO Capital Markets lifted their price objective 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, Wells Fargo & Company upped their target price on S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, S&P Global presently has an average rating of "Buy" and an average price target of $611.69.

S&P Global Trading Up 0.3%

Shares of NYSE:SPGI traded up $1.64 during midday trading on Tuesday, reaching $547.51. The company's stock had a trading volume of 625,162 shares, compared to its average volume of 1,262,309. The firm has a market cap of $167.16 billion, a price-to-earnings ratio of 42.12, a price-to-earnings-growth ratio of 2.88 and a beta of 1.20. The business has a 50 day moving average price of $541.58 and a 200 day moving average price of $514.58. S&P Global Inc. has a 1 year low of $427.14 and a 1 year 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.

S&P Global (NYSE:SPGI - Get Free Report) last released its earnings results 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 firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business posted $4.04 earnings per share. The firm's revenue for the quarter 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. Research analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be issued 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 is Tuesday, August 26th. S&P Global's dividend payout ratio is presently 29.54%.

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.