Veritas Asset Management LLP Acquires New Holdings in S&P Global Inc. $SPGI

Key Points

• Veritas Asset Management acquired 830,609 shares of S&P Global worth approximately $338.3 million, making SPGI about 6.1% of its portfolio and its eighth-largest holding.
• S&P Global reported quarterly EPS of $4.83, slightly above estimates, while revenue rose 10.4% year over year to $4.15 billion. Institutional investors collectively own approximately 87.17% of the company.
• SPGI recently declared a quarterly dividend of $0.97 per share, equivalent to a 0.9% annual yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $523.59, compared with a recent share price of $418.15.

Veritas Asset Management LLP acquired a new position in S&P Global Inc. (NYSE:SPGI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 830,609 shares of the business services provider's stock, valued at approximately $338,274,000. S&P Global makes up about 6.1% of Veritas Asset Management LLP's holdings, making the stock its 8th largest holding. Veritas Asset Management LLP owned about 0.28% of S&P Global as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SPGI. Jackson Hill Advisors LLC boosted its position in S&P Global by 7.5% during the 2nd quarter. Jackson Hill Advisors LLC now owns 50,000 shares of the business services provider's stock valued at $20,363,000 after acquiring an additional 3,500 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of S&P Global by 12.9% in the 2nd quarter. Principal Financial Group Inc. now owns 572,659 shares of the business services provider's stock valued at $233,228,000 after acquiring an additional 65,529 shares during the period. Titan Global Capital Management USA LLC raised its position in shares of S&P Global by 0.6% in the 2nd quarter. Titan Global Capital Management USA LLC now owns 58,190 shares of the business services provider's stock worth $23,698,000 after acquiring an additional 326 shares in the last quarter. Chilton Capital Management LLC raised its position in shares of S&P Global by 331.4% in the 2nd quarter. Chilton Capital Management LLC now owns 371 shares of the business services provider's stock worth $151,000 after acquiring an additional 285 shares in the last quarter. Finally, Okabena Investment Services Inc. lifted its stake in shares of S&P Global by 157.9% during the 2nd quarter. Okabena Investment Services Inc. now owns 5,419 shares of the business services provider's stock worth $2,207,000 after purchasing an additional 3,318 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

S&P Global Price Performance

Shares of SPGI stock opened at $418.15 on Friday. S&P Global Inc. has a fifty-two week low of $381.61 and a fifty-two week high of $565.28. The firm has a market capitalization of $123.27 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95. The stock's 50-day simple moving average is $422.53 and its 200-day simple moving average is $429.14.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $4.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.02. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.09 billion. S&P Global had a net margin of 31.37% and a return on equity of 17.74%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.43 earnings per share. S&P Global has set its FY 2026 guidance at 17.500-17.750 EPS. As a group, equities analysts forecast that S&P Global Inc. will post 17.75 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.97 per share. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 dividend on an annualized basis and a yield of 0.9%. S&P Global's dividend payout ratio is presently 23.69%.

Wall Street Analysts Forecast Growth

SPGI has been the topic of a number of recent research reports. Citigroup raised their price objective on S&P Global from $454.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Morgan Stanley cut their price objective on shares of S&P Global from $557.00 to $525.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. Zacks Research lowered shares of S&P Global from a "hold" rating to a "strong sell" rating in a research note on Monday, July 20th. UBS Group lowered their target price on shares of S&P Global from $550.00 to $525.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Finally, Mizuho upped their price target on S&P Global from $551.00 to $554.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $523.59.

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.

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