S&P Global Inc. $SPGI Shares Sold by Allstate Corp

Key Points

• Allstate Corp reduced its stake in S&P Global Inc. by 4.9% during the 1st quarter, ending with 9,014 shares worth approximately $4.58 million.
• S&P Global reported earnings of $4.43 per share, exceeding estimates, with a revenue of $3.76 billion, up 5.8% from the previous year.
• The company announced a quarterly dividend of $0.96 per share, yielding 0.7%, with a payout ratio of 29.54%.

Allstate Corp lessened its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,014 shares of the business services provider's stock after selling 469 shares during the quarter. Allstate Corp's holdings in S&P Global were worth $4,580,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new stake in shares of S&P Global in the fourth quarter worth $25,000. Cheviot Value Management LLC acquired a new stake in shares of S&P Global in the 1st quarter worth about $26,000. Costello Asset Management INC bought a new stake in S&P Global in the 1st quarter valued at about $26,000. Anderson Financial Strategies LLC bought a new position in S&P Global in the 4th quarter worth about $27,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of S&P Global in the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

S&P Global Trading Down 0.9%

Shares of SPGI stock opened at $552.2660 on Friday. The company has a market cap of $168.61 billion, a P/E ratio of 42.48, a PEG ratio of 2.98 and a beta of 1.19. The stock has a 50 day simple moving average of $533.20 and a two-hundred day simple moving average of $513.49. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the firm posted $4.04 EPS. The business's revenue 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 earnings per share for the current year.

S&P Global Dividend Announcement

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. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is 29.54%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Oppenheimer upped their target price on S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Barclays upped their target price on shares of S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Stifel Nicolaus dropped their price objective on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley increased their target price on shares of S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets upped their price objective on S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $611.69.

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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