Truist Financial Corp Trims Stock Position in S&P Global Inc. $SPGI

Key Points

• Truist Financial Corp reduced its stake in S&P Global Inc. by 6.2% during Q2, selling 5,547 shares and now holding 83,868 shares valued at approximately $44 million.
• Major institutional investors, including Vanguard and Goldman Sachs, have increased their holdings in S&P Global, illustrating strong institutional support for the stock.
• Several analysts have upgraded their price targets for S&P Global, with a consensus target of $614.46 and a "Buy" rating, reflecting positive sentiment toward the company's future performance.

Truist Financial Corp lessened its position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,868 shares of the business services provider's stock after selling 5,547 shares during the quarter. Truist Financial Corp's holdings in S&P Global were worth $44,223,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in S&P Global by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider's stock valued at $15,130,711,000 after purchasing an additional 108,729 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in S&P Global by 3.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,186,250 shares of the business services provider's stock valued at $1,618,934,000 after purchasing an additional 114,843 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in S&P Global by 26.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock valued at $1,497,493,000 after purchasing an additional 614,809 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in S&P Global by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,762,187 shares of the business services provider's stock valued at $1,403,468,000 after purchasing an additional 97,324 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in S&P Global in the 1st quarter valued at approximately $1,103,665,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SPGI. Seaport Res Ptn upgraded shares of S&P Global to a "strong-buy" rating in a report on Wednesday. BMO Capital Markets lifted their target price on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Citigroup lifted their target price on shares of S&P Global from $600.00 to $635.00 and gave the company a "buy" rating in a report on Monday, September 15th. UBS Group boosted their price target on shares of S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price target on shares of S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. Based on data from MarketBeat, S&P Global currently has a consensus rating of "Buy" and a consensus target price of $614.46.

S&P Global Stock Performance

NYSE:SPGI opened at $476.29 on Friday. The company has a market cap of $145.41 billion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 2.58 and a beta of 1.19. The company has a fifty day simple moving average of $536.46 and a two-hundred day simple moving average of $514.96. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.76 billion during 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 company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, equities analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. 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.

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