S&P Global Inc. $SPGI Shares Sold by BlackRock Inc.

Key Points

• BlackRock reduced its S&P Global stake by 0.4% in the second quarter, selling 89,866 shares. It still held 23.98 million shares worth approximately $9.77 billion, representing about 8.13% of the company.
• Analysts remain broadly positive, 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 beat quarterly estimates with adjusted EPS of $4.83 and revenue of $4.15 billion, while revenue rose 10.4% year over year. The company also declared a quarterly dividend of $0.97 per share, yielding approximately 0.9%.

BlackRock Inc. cut its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 0.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 23,981,586 shares of the business services provider's stock after selling 89,866 shares during the period. BlackRock Inc. owned approximately 8.13% of S&P Global worth $9,766,741,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

SPGI has been the topic of several recent analyst reports. Wall Street Zen upgraded S&P Global to a "hold" rating in a research note on Saturday, July 4th. Morgan Stanley lowered their price objective on S&P Global from $557.00 to $525.00 and set an "overweight" rating for the company in a research note on Tuesday, July 7th. Citigroup lifted their price objective on S&P Global from $454.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of S&P Global in a research report on Monday, July 6th. Finally, Barclays reduced their target price on S&P Global from $555.00 to $553.00 and set an "overweight" rating for the company in a research note on Wednesday, July 29th. Eighteen 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. According to MarketBeat.com, S&P Global currently has an average rating of "Moderate Buy" and an average target price of $523.59.

S&P Global Stock Down 2.0%

Shares of S&P Global stock opened at $410.48 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market cap of $121.01 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.88 and a beta of 1.07. S&P Global Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $559.60. The business has a 50-day moving average price of $422.40 and a 200 day moving average price of $427.58.

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

S&P Global Announces Dividend

The company also recently declared 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 26th. S&P Global's dividend payout ratio 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.

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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