S&P Global Inc. $SPGI Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its S&P Global stake by 90.6% in the second quarter, selling 107,676 shares and retaining 11,141 shares valued at approximately $4.54 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly bullish, with 18 Buy ratings, one Hold and one Sell; S&P Global has a “Moderate Buy” consensus rating and an average price target of $523.59.
• S&P Global reported quarterly EPS of $4.83 and revenue of $4.15 billion, exceeding estimates, while revenue rose 10.4% year over year. The company also declared a quarterly dividend of $0.97 per share, yielding approximately 0.9% annually.

Assenagon Asset Management S.A. lessened its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 90.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,141 shares of the business services provider's stock after selling 107,676 shares during the period. Assenagon Asset Management S.A.'s holdings in S&P Global were worth $4,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Joseph Group Capital Management acquired a new position in shares of S&P Global during the 4th quarter valued at $29,000. North Star Investment Management Corp. boosted its stake in S&P Global by 134.6% during the fourth quarter. North Star Investment Management Corp. now owns 61 shares of the business services provider's stock valued at $32,000 after buying an additional 35 shares in the last quarter. Palladiem LLC acquired a new position in S&P Global during the fourth quarter worth about $36,000. Palisade Asset Management LLC bought a new stake in S&P Global in the third quarter worth about $36,000. Finally, Swiss RE Ltd. acquired a new stake in S&P Global in the 4th quarter valued at about $39,000. Institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SPGI. Barclays lowered their price objective on shares of S&P Global from $555.00 to $553.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of S&P Global to a "hold" rating in a research report on Saturday, July 4th. The Goldman Sachs Group cut their price objective on S&P Global from $539.00 to $490.00 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Morgan Stanley decreased their target price on S&P Global from $557.00 to $525.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. Finally, Daiwa Securities Group cut their target price on S&P Global from $490.00 to $485.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, S&P Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $523.59.

S&P Global Stock Up 0.3%

S&P Global stock opened at $410.10 on Thursday. The firm has a market cap of $120.90 billion, a PE ratio of 25.04, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95. The firm's 50 day moving average price is $422.62 and its two-hundred day moving average price is $429.99. S&P Global Inc. has a twelve month low of $381.61 and a twelve month high of $579.05.

S&P Global (NYSE:SPGI - Get Free Report) last issued its earnings results on Tuesday, July 28th. The business services provider reported $4.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.81 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.09 billion. S&P Global had a net margin of 31.37% and a return on equity of 17.74%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $4.43 EPS. S&P Global has set its FY 2026 guidance at 17.500-17.750 EPS. On average, research analysts predict that S&P Global Inc. will post 17.75 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be paid a $0.97 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 dividend on an annualized basis and a yield of 0.9%. S&P Global's payout ratio is 23.69%.

S&P Global Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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