S&P Global Inc. $SPGI Stake Cut by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its stake in S&P Global by 4.5%, ending the quarter with 35,241 shares valued at approximately $18.6 million.
• Several analysts have increased their target prices for S&P Global, with estimates now between $604.00 and $661.00, indicating strong market confidence in the stock.
• S&P Global recently reported earnings per share of $4.43 for the last quarter, exceeding expectations and showcasing a year-over-year revenue increase of 5.8%.

State of Alaska Department of Revenue cut its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,241 shares of the business services provider's stock after selling 1,670 shares during the quarter. State of Alaska Department of Revenue's holdings in S&P Global were worth $18,582,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPGI. Cheviot Value Management LLC bought a new position in S&P Global during the first quarter worth $26,000. Costello Asset Management INC bought a new position in S&P Global during the first quarter worth $26,000. Oliver Lagore Vanvalin Investment Group bought a new position in S&P Global during the second quarter worth $26,000. Smallwood Wealth Investment Management LLC bought a new position in S&P Global during the first quarter worth $28,000. Finally, CBIZ Investment Advisory Services LLC lifted its stake in S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after purchasing an additional 31 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets increased their target price on S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their target price on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Citigroup increased their target price on S&P Global from $600.00 to $635.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Morgan Stanley increased their target price on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their target price on S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $614.46.

S&P Global Trading Up 0.6%

NYSE:SPGI opened at $487.66 on Friday. S&P Global Inc. has a 1 year low of $427.14 and a 1 year high of $579.05. The stock has a market cap of $148.88 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 2.60 and a beta of 1.20. The business has a fifty day moving average of $539.72 and a 200-day moving average of $514.99. 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 released its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.65 billion. During the same quarter in the prior year, the business posted $4.04 earnings per share. The company'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. Equities analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be paid a $0.96 dividend. 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 dividend 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.

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