Canoe Financial LP Has $41.75 Million Stake in S&P Global Inc. $SPGI

Key Points

• Canoe Financial LP reduced its holdings in S&P Global by 14.3%, now owning 79,184 shares valued at approximately $41.75 million.
• Analysts have adjusted their price targets for S&P Global shares, with Barclays and UBS both lifting their objectives to $620 while the average target price is now $614.38.
• S&P Global reported a quarterly EPS of $4.43, exceeding analysts' expectations, alongside a revenue increase of 5.8% year-over-year.

Canoe Financial LP cut its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 79,184 shares of the business services provider's stock after selling 13,195 shares during the period. Canoe Financial LP's holdings in S&P Global were worth $41,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of S&P Global by 4.7% during the fourth quarter. Brighton Jones LLC now owns 3,176 shares of the business services provider's stock worth $1,582,000 after purchasing an additional 143 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in S&P Global by 3.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 74,479 shares of the business services provider's stock worth $37,093,000 after acquiring an additional 2,413 shares during the last quarter. GHE LLC lifted its holdings in S&P Global by 2.1% in the fourth quarter. GHE LLC now owns 13,504 shares of the business services provider's stock worth $6,725,000 after acquiring an additional 274 shares during the last quarter. State of Wyoming lifted its holdings in S&P Global by 94.8% in the fourth quarter. State of Wyoming now owns 261 shares of the business services provider's stock worth $130,000 after acquiring an additional 127 shares during the last quarter. Finally, Woodline Partners LP bought a new position in S&P Global in the fourth quarter worth about $9,500,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SPGI. JPMorgan Chase & Co. raised their price target on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. UBS Group raised their price target on shares of S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Oppenheimer raised their price objective on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Barclays raised their price objective 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. Finally, Morgan Stanley raised their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $614.46.

S&P Global Price Performance

Shares of SPGI stock traded down $7.98 during trading hours on Tuesday, reaching $497.59. 784,998 shares of the company were exchanged, compared to its average volume of 1,279,692. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The stock's fifty day moving average is $542.48 and its two-hundred day moving average is $515.27. The company has a market cap of $151.91 billion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 2.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the firm posted $4.04 earnings per share. S&P Global'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. Sell-side analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. S&P Global's payout ratio is presently 29.54%.

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.