Demars Financial Group LLC acquired a new position in S&P Global Inc. (NYSE:SPGI – Free Report) during the first quarter, HoldingsChannel reports. The institutional investor acquired 2,940 shares of the business services provider’s stock, valued at approximately $1,250,000. S&P Global comprises about 0.4% of Demars Financial Group LLC’s portfolio, making the stock its 29th biggest position.
Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in S&P Global by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 30,374,366 shares of the business services provider’s stock valued at $15,873,340,000 after purchasing an additional 117,728 shares in the last quarter. State Street Corp increased its holdings in shares of S&P Global by 1.1% in the 4th quarter. State Street Corp now owns 14,259,690 shares of the business services provider’s stock worth $7,451,971,000 after buying an additional 157,301 shares during the last quarter. TCI Fund Management Ltd. increased its holdings in shares of S&P Global by 5.4% in the 4th quarter. TCI Fund Management Ltd. now owns 11,790,310 shares of the business services provider’s stock worth $6,161,498,000 after buying an additional 600,440 shares during the last quarter. Morgan Stanley raised its position in shares of S&P Global by 3.3% during the 4th quarter. Morgan Stanley now owns 8,333,099 shares of the business services provider’s stock valued at $4,354,796,000 after buying an additional 263,051 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of S&P Global by 4.6% during the 3rd quarter. Wellington Management Group LLP now owns 6,231,644 shares of the business services provider’s stock valued at $3,033,003,000 after buying an additional 274,285 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.
S&P Global Trading Down 2.8%
SPGI opened at $430.93 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s 50 day moving average price is $419.40 and its 200-day moving average price is $448.79. S&P Global Inc. has a one year low of $381.61 and a one year high of $579.05. The stock has a market cap of $127.56 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 1.89 and a beta of 1.08.
S&P Global Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be paid a $0.97 dividend. 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 (DPR) is presently 24.56%.
Wall Street Analysts Forecast Growth
SPGI has been the subject of several recent research reports. Mizuho lifted 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. UBS Group lowered their price objective on S&P Global from $550.00 to $525.00 and set a “buy” rating for the company in a research note on Tuesday. Wall Street Zen upgraded S&P Global to a “hold” rating in a report on Saturday, July 4th. JPMorgan Chase & Co. decreased their price target on S&P Global from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Evercore dropped their price objective on shares of S&P Global from $625.00 to $560.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Seventeen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, S&P Global presently has a consensus rating of “Moderate Buy” and an average price target of $533.47.
Get Our Latest Stock Analysis on SPGI
Key Headlines Impacting S&P Global
Here are the key news stories impacting S&P Global this week:
- Positive Sentiment: BMO Capital Markets raised its price target to $505 and reiterated an outperform rating, indicating continued confidence in S&P Global’s longer-term earnings power. Benzinga report
- Positive Sentiment: JPMorgan kept an overweight rating and still sees upside, despite cutting its target to $535 from $550. Benzinga report
- Positive Sentiment: Barclays, Morgan Stanley, UBS, and RBC all maintained bullish views on SPGI, with revised targets ranging from $510 to $555, suggesting analysts still expect the stock to recover from current levels. Benzinga report
- Neutral Sentiment: Coverage highlighted conflicting analyst sentiment on S&P Global and Bank of Nova Scotia, which adds noise but does not signal a major change in fundamentals. The Globe and Mail article
- Neutral Sentiment: Reports on leadership and operations changes, plus the Mobility spin-off and Market Intelligence rework, point to ongoing strategic restructuring that could improve focus over time but may create short-term uncertainty. Yahoo Finance leadership article Yahoo Finance spin-off article
Insider Transactions at S&P Global
In related news, CEO Martina Cheung acquired 2,322 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was bought at an average price of $429.93 per share, for a total transaction of $998,297.46. Following the acquisition, the chief executive officer directly owned 27,518 shares of the company’s stock, valued at $11,830,813.74. This represents a 9.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Catherine R. Clay acquired 2,500 shares of the stock in a transaction on Friday, May 1st. The stock was bought at an average cost of $431.39 per share, with a total value of $1,078,475.00. Following the completion of the transaction, the chief executive officer owned 2,500 shares in the company, valued at $1,078,475. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 5,974 shares of company stock worth $2,576,775. 0.03% of the stock is currently owned by insiders.
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.
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