Vancity Investment Management Ltd Buys Shares of 69,288 S&P Global Inc. $SPGI

Key Points

• Vancity Investment Management Ltd has acquired 69,288 shares of S&P Global Inc., representing approximately $35.2 million and making it the firm's 6th largest holding.
• Several institutional investors have recently increased their stakes in S&P Global, with 87.17% of the stock owned by such investors.
• S&P Global reported a quarterly EPS of $4.43, beating estimates, and recently announced a quarterly dividend of $0.96 per share, indicating a solid financial outlook.

Vancity Investment Management Ltd acquired a new stake in S&P Global Inc. (NYSE:SPGI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 69,288 shares of the business services provider's stock, valued at approximately $35,205,000. S&P Global accounts for 4.8% of Vancity Investment Management Ltd's holdings, making the stock its 6th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of S&P Global in the 4th quarter valued at about $25,000. Cheviot Value Management LLC acquired a new stake in shares of S&P Global in the 1st quarter valued at approximately $26,000. Costello Asset Management INC acquired a new stake in shares of S&P Global in the 1st quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new position in S&P Global during the first quarter worth $28,000. Finally, CBIZ Investment Advisory Services LLC raised its holdings in S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider's stock worth $31,000 after purchasing an additional 31 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Oppenheimer raised their price target on S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Barclays raised their target price on S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. UBS Group increased their price target on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. BMO Capital Markets upped their price objective on S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Argus upgraded S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $611.69.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $537.61 on Monday. S&P Global Inc. has a twelve month low of $427.14 and a twelve month 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. The company has a market cap of $164.13 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 2.88 and a beta of 1.20. The business has a 50 day moving average price of $541.21 and a 200 day moving average price of $514.49.

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 for the quarter, beating the consensus estimate of $4.18 by $0.25. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The company's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Research analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

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

Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc. (NYSE:SPGI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.