Gabelli Funds LLC Decreases Stock Holdings in S&P Global Inc. $SPGI

Key Points

• Gabelli Funds LLC reduced its stake in S&P Global by 7.8% during the first quarter, selling 10,358 shares to end the period with 121,945 shares valued at approximately $61.96 million.
• Notable institutional activity includes Nuveen LLC purchasing a stake worth $1.1 billion and GAMMA Investing LLC increasing its holdings by over 60,000%, now owning 2.14 million shares valued at roughly $1.08 billion.
• S&P Global recently declared a quarterly dividend of $0.96 per share, with an annualized payout of $3.84 and a dividend yield of 0.7%.

Gabelli Funds LLC decreased its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,945 shares of the business services provider's stock after selling 10,358 shares during the quarter. Gabelli Funds LLC's holdings in S&P Global were worth $61,960,000 as of its most recent filing with the Securities and Exchange Commission.

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

S&P Global Stock Performance

Shares of NYSE:SPGI traded up $1.06 during trading on Friday, hitting $548.61. 886,915 shares of the stock were exchanged, compared to its average volume of 1,274,653. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $579.05. The company has a market capitalization of $167.49 billion, a price-to-earnings ratio of 42.20, a price-to-earnings-growth ratio of 2.94 and a beta of 1.19. The company's fifty day simple moving average is $538.10 and its 200-day simple moving average is $514.72. 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, topping analysts' consensus estimates of $4.18 by $0.25. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. S&P Global's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Sell-side analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.96 per share. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a yield of 0.7%. S&P Global's dividend payout ratio (DPR) is presently 29.54%.

Wall Street Analysts Forecast Growth

SPGI has been the topic of several recent analyst reports. Morgan Stanley boosted their target price 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. Barclays upped their price target on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company raised their target price on S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. BMO Capital Markets lifted their target price on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Argus upgraded shares of S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $611.69.

About S&P Global

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.