The Manufacturers Life Insurance Company Buys 299,454 Shares of S&P Global Inc. $SPGI

Key Points

• The Manufacturers Life Insurance Company increased its S&P Global stake by 76.5% in the second quarter, purchasing 299,454 shares and bringing its holdings to 690,931 shares worth approximately $281.4 million.
• Institutional ownership remains high at 87.17%, while analysts maintain a generally positive outlook: 18 rate the stock a Buy, with a consensus price target of $523.59 versus its reported price of $410.77.
• S&P Global exceeded quarterly earnings and revenue expectations, reporting $4.83 in EPS and $4.15 billion in revenue, up 10.4% year over year. The company also pays a quarterly dividend of $0.97 per share, yielding about 0.9% annually.

The Manufacturers Life Insurance Company boosted its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 76.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,931 shares of the business services provider's stock after purchasing an additional 299,454 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.23% of S&P Global worth $281,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SPGI. California State Teachers Retirement System increased its holdings in shares of S&P Global by 39,515.8% in the 2nd quarter. California State Teachers Retirement System now owns 187,868,631 shares of the business services provider's stock worth $76,511,379,000 after buying an additional 187,394,404 shares during the last quarter. State Street Corp increased its stake in S&P Global by 1.1% in the fourth quarter. State Street Corp now owns 14,259,690 shares of the business services provider's stock valued at $7,451,971,000 after acquiring an additional 157,301 shares during the last quarter. TCI Fund Management Ltd. increased its stake in S&P Global by 5.4% in the fourth quarter. TCI Fund Management Ltd. now owns 11,790,310 shares of the business services provider's stock valued at $6,161,498,000 after acquiring an additional 600,440 shares during the last quarter. Morgan Stanley raised its position in S&P Global by 3.3% during the fourth quarter. Morgan Stanley now owns 8,333,099 shares of the business services provider's stock valued at $4,354,796,000 after purchasing an additional 263,051 shares in the last quarter. Finally, Norges Bank purchased a new stake in S&P Global during the fourth quarter valued at about $2,398,991,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPGI. JPMorgan Chase & Co. cut their price objective on S&P Global from $555.00 to $530.00 and set an "overweight" rating for the company in a report on Wednesday, July 29th. Bank of America decreased their price objective on S&P Global from $575.00 to $550.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Rothschild & Co Redburn dropped their target price on S&P Global from $540.00 to $520.00 and set a "buy" rating for the company in a research report on Thursday, June 18th. The Goldman Sachs Group cut their target price on S&P Global from $539.00 to $490.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Finally, BMO Capital Markets increased their price target on shares of S&P Global from $495.00 to $505.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Eighteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $523.59.

S&P Global Stock Performance

NYSE:SPGI opened at $410.77 on Friday. The firm has a market cap of $121.10 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50 day moving average price of $428.94 and a 200-day moving average price of $425.77. S&P Global Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $552.25.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Tuesday, July 28th. The business services provider reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $4.09 billion. During the same period last year, the firm earned $4.43 earnings per share. S&P Global's quarterly revenue was up 10.4% on a year-over-year basis. S&P Global has set its FY 2026 guidance at 17.500-17.750 EPS. Equities research analysts predict that S&P Global Inc. will post 17.75 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 26th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, August 26th. S&P Global's dividend payout ratio is currently 23.69%.

About S&P Global

S&P Global Inc NYSE: SPGI provides financial information, analytics, benchmarks and credit ratings to businesses, governments and investors worldwide. Its services are used to evaluate credit risk, analyze markets, value assets, assess commodities and support investment and business decisions.

The company operates through businesses that include S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers financial and industry data, analytics and workflow tools; S&P Global Commodity Insights, which supplies information and pricing assessments for energy and commodity markets; and S&P Dow Jones Indices, which develops and maintains market indexes such as the S&P 500.

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