Tocqueville Asset Management L.P. Buys 34,663 Shares of S&P Global Inc. $SPGI

Key Points

• Tocqueville Asset Management increased its S&P Global stake by 87.8% in the second quarter, purchasing 34,663 additional shares and bringing its holdings to 74,136 shares valued at approximately $30.2 million.
• Analysts remain broadly positive, with 18 Buy ratings, one Hold and one Sell. S&P Global has a consensus rating of “Moderate Buy” and an average price target of $523.59.
• S&P Global reported quarterly EPS of $4.83, slightly above expectations, while revenue rose 10.4% year over year to $4.15 billion. The company also declared a quarterly dividend of $0.97 per share, representing a 0.9% yield.

Tocqueville Asset Management L.P. boosted its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 87.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,136 shares of the business services provider's stock after purchasing an additional 34,663 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in S&P Global were worth $30,193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPGI. Rehmann Capital Advisory Group raised its holdings in shares of S&P Global by 1.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,925 shares of the business services provider's stock valued at $937,000 after acquiring an additional 22 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of S&P Global by 14.2% during the fourth quarter. Salomon & Ludwin LLC now owns 185 shares of the business services provider's stock worth $99,000 after purchasing an additional 23 shares in the last quarter. Washington Trust Bank grew its holdings in shares of S&P Global by 1.2% during the fourth quarter. Washington Trust Bank now owns 1,888 shares of the business services provider's stock worth $987,000 after purchasing an additional 23 shares in the last quarter. Hibernia Wealth Partners LLC increased its position in shares of S&P Global by 3.3% in the first quarter. Hibernia Wealth Partners LLC now owns 754 shares of the business services provider's stock worth $321,000 after purchasing an additional 24 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in shares of S&P Global by 1.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,521 shares of the business services provider's stock worth $795,000 after purchasing an additional 25 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of S&P Global from $539.00 to $490.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings reissued a "hold (c)" rating on shares of S&P Global in a research note on Monday, July 6th. BMO Capital Markets raised their price target on S&P Global from $495.00 to $505.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Citigroup lifted their price target on S&P Global from $454.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Finally, Barclays cut their price objective on S&P Global from $555.00 to $553.00 and set an "overweight" rating for the company in a report on Wednesday, July 29th. 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 company's stock. According to MarketBeat, S&P Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $523.59.

S&P Global Trading Up 2.1%

Shares of SPGI opened at $427.02 on Thursday. The firm has a market cap of $125.89 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.88 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. S&P Global Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $559.60. The firm has a 50 day moving average price of $422.28 and a 200-day moving average price of $426.09.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $4.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.81 by $0.02. S&P Global had a net margin of 31.37% and a return on equity of 17.74%. The company had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.09 billion. During the same quarter in the prior year, the company earned $4.43 EPS. The firm's 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. As a group, equities research analysts forecast that S&P Global Inc. will post 17.75 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 Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, August 26th. S&P Global's dividend payout ratio is presently 23.69%.

S&P Global Company Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source