Synovus Financial Corp Has $1.71 Million Position in S&P Global Inc. $SPGI

Key Points

• Synovus Financial Corp reduced its stake in S&P Global Inc. by 66.7% in the first quarter, now holding shares valued at $1.71 million.
• S&P Global reported quarterly earnings of $4.43 per share, exceeding analyst estimates and indicating a year-over-year revenue increase of 5.8%.
• The company declared a quarterly dividend of $0.96 per share, representing an annualized yield of 0.7%.

Synovus Financial Corp trimmed its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 66.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,371 shares of the business services provider's stock after selling 6,765 shares during the quarter. Synovus Financial Corp's holdings in S&P Global were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SPGI. Minot DeBlois Advisors LLC bought a new position in S&P Global in the fourth quarter worth $25,000. Costello Asset Management INC bought a new position in S&P Global in the first quarter worth $26,000. Cheviot Value Management LLC bought a new position in S&P Global in the first quarter worth $26,000. Anderson Financial Strategies LLC bought a new position in S&P Global in the fourth quarter worth $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in S&P Global in the first quarter worth $28,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SPGI shares. Argus upgraded S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. UBS Group increased their price objective on S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Morgan Stanley increased their price objective on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their target price on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Wells Fargo & Company lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, S&P Global currently has an average rating of "Buy" and a consensus target price of $611.69.

S&P Global Stock Up 0.2%

NYSE SPGI traded up $1.06 during trading on Friday, hitting $548.61. The stock had a trading volume of 886,915 shares, compared to its average volume of 1,184,245. The company has a market capitalization of $167.49 billion, a PE ratio of 42.20, a P/E/G ratio of 2.93 and a beta of 1.19. The company's 50-day moving average price is $538.99 and its two-hundred day moving average price is $514.77. 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 Inc. has a 12 month low of $427.14 and a 12 month high of $579.05.

S&P Global (NYSE:SPGI - Get Free Report) last released its earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating the consensus estimate of $4.18 by $0.25. The firm had revenue of $3.76 billion for the quarter, compared to analysts' expectations of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, sell-side analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The business also recently declared 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 of this dividend is Tuesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.7%. S&P Global's payout ratio is 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.