Zions Bancorporation National Association UT Purchases Shares of 11,391 S&P Global Inc. (NYSE:SPGI)

Key Points

• Zions Bancorporation National Association UT purchased 11,391 shares of S&P Global Inc. valued at approximately $5.79 million in the first quarter of 2023.
• Major hedge funds like Vanguard Group and Goldman Sachs have increased their holdings in S&P Global, with a significant portion of the company (87.17%) now owned by institutional investors.
• S&P Global reported earnings of $4.43 per share for the second quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.96 per share set to be paid on September 10th.

Zions Bancorporation National Association UT purchased a new position in S&P Global Inc. (NYSE:SPGI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,391 shares of the business services provider's stock, valued at approximately $5,788,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPGI. GAMMA Investing LLC raised its stake in S&P Global by 60,982.3% in 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of 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 purchasing an additional 670,392 shares in the last quarter. Northern Trust Corp increased its position in shares of S&P Global by 19.1% during the fourth quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock worth $1,631,568,000 after purchasing an additional 525,347 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of S&P Global during the fourth quarter worth $238,503,000. Finally, BlueSpruce Investments LP acquired a new position in shares of S&P Global during the fourth quarter worth $178,858,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

S&P Global Stock Down 0.4%

SPGI stock traded down $2.14 during midday trading on Friday, hitting $556.99. The company's stock had a trading volume of 820,714 shares, compared to its average volume of 1,181,506. 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 52-week low of $427.14 and a 52-week high of $566.42. The firm has a market capitalization of $170.05 billion, a P/E ratio of 42.85, a PEG ratio of 2.98 and a beta of 1.19. The firm has a 50-day simple moving average of $525.43 and a 200-day simple moving average of $511.04.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating the consensus estimate of $4.18 by $0.25. The company had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.04 EPS. As a group, equities analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio (DPR) is currently 29.54%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SPGI. Robert W. Baird dropped their price objective on shares of S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Argus raised shares of S&P Global to a "strong-buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their price objective on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Morgan Stanley boosted their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Barclays increased their target price on shares of S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, S&P Global has a consensus rating of "Moderate Buy" and an average price target of $611.69.

S&P Global 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.