Varma Mutual Pension Insurance Co Buys 2,500 Shares of S&P Global Inc. $SPGI

Varma Mutual Pension Insurance Co boosted its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,007 shares of the business services provider's stock after purchasing an additional 2,500 shares during the quarter. Varma Mutual Pension Insurance Co's holdings in S&P Global were worth $27,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPGI. Westpac Banking Corp boosted its holdings in shares of S&P Global by 48.6% during the 2nd quarter. Westpac Banking Corp now owns 5,421 shares of the business services provider's stock valued at $2,208,000 after purchasing an additional 1,774 shares during the last quarter. TRB Wealth Management LLC increased its holdings in shares of S&P Global by 25.8% in the second quarter. TRB Wealth Management LLC now owns 1,352 shares of the business services provider's stock worth $551,000 after purchasing an additional 277 shares during the last quarter. Long Corridor Asset Management Ltd increased its holdings in shares of S&P Global by 172.7% in the second quarter. Long Corridor Asset Management Ltd now owns 30,000 shares of the business services provider's stock worth $12,218,000 after purchasing an additional 19,000 shares during the last quarter. Heartland Bank & Trust Co lifted its position in shares of S&P Global by 14.7% in the second quarter. Heartland Bank & Trust Co now owns 789 shares of the business services provider's stock worth $321,000 after buying an additional 101 shares in the last quarter. Finally, Heron Bay Capital Management purchased a new stake in shares of S&P Global in the second quarter worth about $19,880,000. Institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPGI. Weiss Ratings reissued a "hold (c)" rating on shares of S&P Global in a research note on Monday, July 6th. Daiwa Securities Group reduced their price objective on S&P Global from $490.00 to $485.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. Mizuho upped their price objective on S&P Global from $551.00 to $554.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Bank of America lowered their target price on S&P Global from $575.00 to $550.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Finally, Wall Street Zen raised shares of S&P Global to a "hold" rating in a report on Saturday, July 4th. Eighteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $523.59.

S&P Global Stock Down 0.2%

Shares of NYSE SPGI opened at $431.10 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. S&P Global Inc. has a 12-month low of $381.61 and a 12-month high of $559.44. The firm's 50-day moving average price is $422.87 and its 200-day moving average price is $425.46. The stock has a market capitalization of $127.09 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.94 and a beta of 1.07.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $4.83 EPS for the quarter, topping the consensus estimate of $4.81 by $0.02. S&P Global had a return on equity of 17.74% and a net margin of 31.37%.The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the business posted $4.43 earnings per share. 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. On average, equities research analysts anticipate that S&P Global Inc. will post 17.75 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 26th. S&P Global's dividend payout ratio (DPR) is presently 23.69%.

About S&P Global

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