Avanza Fonder AB Cuts Stock Holdings in S&P Global Inc. $SPGI

Key Points

• Avanza Fonder AB reduced its stake in S&P Global Inc. by 4.8% during the second quarter, owning 20,943 shares valued at approximately $11 million after selling 1,063 shares.
• Several hedge funds increased their stakes in S&P Global, with Sowell Financial Services LLC raising its position by 4.5% and others like Orrstown Financial Services Inc. increasing theirs by 11.4%.
• Equities analysts have adjusted their price targets upward, with BMO raising its target for S&P Global to $621, and Wells Fargo and Citi giving it "overweight" and "buy" ratings respectively.

Avanza Fonder AB reduced its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,943 shares of the business services provider's stock after selling 1,063 shares during the period. Avanza Fonder AB's holdings in S&P Global were worth $11,043,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in S&P Global by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider's stock worth $15,130,711,000 after buying an additional 108,729 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of S&P Global by 3.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,186,250 shares of the business services provider's stock worth $1,618,934,000 after purchasing an additional 114,843 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of S&P Global by 26.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock worth $1,497,493,000 after purchasing an additional 614,809 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of S&P Global by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,762,187 shares of the business services provider's stock worth $1,403,468,000 after purchasing an additional 97,324 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of S&P Global during the 1st quarter worth approximately $1,103,665,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Trading Down 0.2%

NYSE:SPGI traded down $1.03 during trading hours on Monday, reaching $506.13. 1,754,447 shares of the stock were exchanged, compared to its average volume of 1,283,000. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $542.96 and a two-hundred day moving average of $515.21. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The company has a market capitalization of $154.52 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 2.71 and a beta of 1.20.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.76 billion for the quarter, compared to analysts' expectations of $3.65 billion. During the same period in the prior year, the firm earned $4.04 earnings per share. The firm'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. On average, equities analysts predict 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, December 10th. Stockholders of record on Tuesday, November 25th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. S&P Global's dividend payout ratio is currently 29.54%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SPGI. Barclays boosted their target price on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. UBS Group boosted their target price on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Citigroup boosted their target price on S&P Global from $600.00 to $635.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Wells Fargo & Company boosted their target price on S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Oppenheimer boosted their target price on S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $614.46.

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.