Voya Investment Management LLC Reduces Position in S&P Global Inc. $SPGI

Key Points

• Voya Investment Management LLC reduced its stake in S&P Global Inc. by 0.8%, now holding 62,467 shares valued at approximately $31.7 million.
• Equities analysts have raised their price targets for S&P Global, with a new average target price of $611.69 and multiple analysts rating the stock as "Buy" or "Overweight."
• S&P Global recently reported $4.43 earnings per share for the quarter, surpassing expectations and indicating a 5.8% year-over-year revenue growth.

Voya Investment Management LLC cut its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,467 shares of the business services provider's stock after selling 512 shares during the quarter. Voya Investment Management LLC's holdings in S&P Global were worth $31,739,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Stegent Equity Advisors Inc. increased its position in shares of S&P Global by 3.1% during the first quarter. Stegent Equity Advisors Inc. now owns 659 shares of the business services provider's stock worth $335,000 after acquiring an additional 20 shares during the period. Foster Dykema Cabot & Partners LLC increased its holdings in S&P Global by 0.7% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 2,859 shares of the business services provider's stock valued at $1,453,000 after buying an additional 20 shares during the period. Integrated Investment Consultants LLC increased its holdings in S&P Global by 2.8% during the first quarter. Integrated Investment Consultants LLC now owns 762 shares of the business services provider's stock valued at $387,000 after buying an additional 21 shares during the period. Hemington Wealth Management increased its holdings in S&P Global by 8.0% during the first quarter. Hemington Wealth Management now owns 284 shares of the business services provider's stock valued at $144,000 after buying an additional 21 shares during the period. Finally, Retirement Planning Group LLC increased its holdings in S&P Global by 0.4% during the fourth quarter. Retirement Planning Group LLC now owns 5,762 shares of the business services provider's stock valued at $2,870,000 after buying an additional 22 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SPGI shares. Barclays lifted their price objective on shares of S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. BMO Capital Markets lifted their price objective 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 raised their target price on shares of S&P Global from $600.00 to $635.00 and gave the company a "buy" rating in a research note on Monday. Oppenheimer raised their target price on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, S&P Global presently has an average rating of "Buy" and an average price target of $614.38.

S&P Global Stock Performance

Shares of SPGI traded up $2.69 during trading hours on Wednesday, reaching $543.98. 875,164 shares of the company traded hands, compared to its average volume of 1,251,644. The stock has a market capitalization of $166.08 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.91 and a beta of 1.20. 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 Inc. has a 12-month low of $427.14 and a 12-month high of $579.05. The business has a fifty day moving average price of $543.48 and a 200-day moving average price of $515.27.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, beating analysts' consensus estimates of $4.18 by $0.25. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Equities analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.7%. 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.