USS Investment Management Ltd Sells 11,400 Shares of S&P Global Inc. $SPGI

Key Points

• USS Investment Management Ltd reduced its stake in S&P Global Inc. by 2.3%, selling 11,400 shares during the first quarter, now holding 489,851 shares valued at approximately $248.97 million.
• S&P Global reported a 5.8% increase in quarterly revenue year-over-year, reaching $3.76 billion, and beat earnings expectations by reporting $4.43 EPS for the quarter.
• The company declared a quarterly dividend of $0.96 per share, with a new annualized dividend yield of 0.7%, reflecting a payout ratio of 29.54%.

USS Investment Management Ltd lowered its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 489,851 shares of the business services provider's stock after selling 11,400 shares during the quarter. S&P Global accounts for about 1.9% of USS Investment Management Ltd's investment portfolio, making the stock its 8th biggest position. USS Investment Management Ltd owned about 0.16% of S&P Global worth $248,974,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPGI. Nuveen LLC bought a new stake in S&P Global during the first quarter worth about $1,103,665,000. GAMMA Investing LLC grew its stake in S&P Global by 60,982.3% during the first quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock worth $1,086,877,000 after buying an additional 2,135,599 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in S&P Global by 70.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock worth $826,819,000 after buying an additional 670,392 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in S&P Global by 26.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock worth $1,497,493,000 after buying an additional 614,809 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in S&P Global during the fourth quarter worth about $238,503,000. Institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPGI. Wells Fargo & Company upped their price objective on shares of S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group upped their price objective 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. Morgan Stanley upped their price objective on shares of S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. BMO Capital Markets upped their price objective on shares of S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Argus raised shares of S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $611.69.

S&P Global Price Performance

Shares of SPGI stock traded up $1.64 during trading hours on Tuesday, reaching $547.51. 631,745 shares of the company were exchanged, compared to its average volume of 1,003,596. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The stock's fifty day moving average is $541.94 and its two-hundred day moving average is $514.81. The company has a market cap of $167.16 billion, a price-to-earnings ratio of 42.12, a P/E/G ratio of 2.92 and a beta of 1.20. 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 (NYSE:SPGI - Get Free Report) last announced its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the prior year, the business earned $4.04 earnings per share. S&P Global's quarterly revenue was up 5.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Sell-side analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio is presently 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.