Tribune Investment Group LP Sells 16,500 Shares of S&P Global Inc. $SPGI

Key Points

• Tribune Investment Group LP reduced its stake in S&P Global Inc. by 66%, selling 16,500 shares during the first quarter, and now holds 8,500 shares valued at approximately $4.3 million.
• S&P Global recently reported unexpectedly strong earnings for the quarter, with EPS of $4.43 vs. the expected $4.18, and revenue of $3.76 billion beating estimates as well.
• The company announced a quarterly dividend of $0.96 per share, with a payout ratio of 29.54% and an upcoming ex-dividend date of August 26th.

Tribune Investment Group LP cut its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 66.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,500 shares of the business services provider's stock after selling 16,500 shares during the period. S&P Global accounts for 1.9% of Tribune Investment Group LP's holdings, making the stock its 27th largest position. Tribune Investment Group LP's holdings in S&P Global were worth $4,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Candriam S.C.A. lifted its position in S&P Global by 5.3% during the first quarter. Candriam S.C.A. now owns 130,833 shares of the business services provider's stock worth $66,476,000 after acquiring an additional 6,597 shares during the last quarter. Aspire Growth Partners LLC lifted its position in S&P Global by 21.2% during the first quarter. Aspire Growth Partners LLC now owns 515 shares of the business services provider's stock worth $261,000 after acquiring an additional 90 shares during the last quarter. GM Advisory Group LLC lifted its position in S&P Global by 1.7% during the first quarter. GM Advisory Group LLC now owns 2,973 shares of the business services provider's stock worth $1,511,000 after acquiring an additional 50 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in S&P Global by 1,259.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 35,318 shares of the business services provider's stock worth $17,946,000 after acquiring an additional 32,720 shares during the last quarter. Finally, GDS Wealth Management lifted its position in S&P Global by 6.0% during the first quarter. GDS Wealth Management now owns 30,808 shares of the business services provider's stock worth $15,654,000 after acquiring an additional 1,753 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Morgan Stanley lifted their price target on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird dropped their price target on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Stifel Nicolaus dropped their price target on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Argus upgraded shares of S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $611.69.

S&P Global Price Performance

NYSE:SPGI traded up $3.49 during mid-day trading on Friday, reaching $555.93. The stock had a trading volume of 1,060,179 shares, compared to its average volume of 1,224,779. The stock has a 50-day simple moving average of $534.30 and a two-hundred day simple moving average of $513.79. The stock has a market capitalization of $169.73 billion, a PE ratio of 42.76, a P/E/G ratio of 2.98 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick 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 announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.25. The business had revenue of $3.76 billion for the quarter, compared to analysts' expectations of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. On average, equities analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

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