Dorsey Asset Management LLC acquired a new stake in S&P Global Inc. (NYSE:SPGI – Free Report) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 222,683 shares of the business services provider’s stock, valued at approximately $94,716,000. S&P Global comprises 7.5% of Dorsey Asset Management LLC’s portfolio, making the stock its 7th biggest holding.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of S&P Global by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 30,374,366 shares of the business services provider’s stock valued at $15,873,340,000 after acquiring an additional 117,728 shares during the period. State Street Corp boosted its stake in S&P Global by 1.1% during 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 purchasing an additional 157,301 shares during the period. TCI Fund Management Ltd. boosted its stake in S&P Global by 5.4% during 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 purchasing an additional 600,440 shares during the period. Morgan Stanley grew its position in 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 worth $4,354,796,000 after purchasing an additional 263,051 shares during the last quarter. Finally, Norges Bank purchased a new position in S&P Global during the 4th quarter worth $2,398,991,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on SPGI shares. Mizuho upped their target price on shares of S&P Global from $551.00 to $554.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Royal Bank Of Canada lowered their price target on S&P Global from $560.00 to $510.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Stifel Nicolaus boosted their price target on S&P Global from $489.00 to $521.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Daiwa Securities Group reduced their price objective on S&P Global from $490.00 to $485.00 and set an “outperform” rating for the company in a research note on Wednesday, May 20th. Finally, Evercore decreased their price objective on S&P Global from $625.00 to $560.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Eighteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $533.59.
S&P Global Stock Up 1.5%
Shares of S&P Global stock opened at $426.19 on Friday. The company has a market cap of $126.15 billion, a P/E ratio of 26.97, a PEG ratio of 2.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 0.68. S&P Global Inc. has a one year low of $381.61 and a one year high of $579.05. The firm has a fifty day moving average of $423.27 and a two-hundred day moving average of $442.10.
S&P Global (NYSE:SPGI – Get Free Report) last issued its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.15. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.08 billion. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.37 earnings per share. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. On average, analysts forecast that S&P Global Inc. will post 18.37 earnings per share for the current year.
S&P Global Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given 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%.
Insider Buying and Selling at S&P Global
In other S&P Global news, CEO Catherine R. Clay bought 2,500 shares of the company’s stock in a transaction on Friday, May 1st. The shares were bought at an average price of $431.39 per share, for a total transaction of $1,078,475.00. Following the transaction, the chief executive officer owned 2,500 shares of the company’s stock, valued at approximately $1,078,475. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Martina Cheung bought 2,322 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were acquired at an average price of $429.93 per share, for a total transaction of $998,297.46. Following the transaction, the chief executive officer directly owned 27,518 shares in the company, valued at $11,830,813.74. This trade represents a 9.22% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 5,974 shares of company stock valued at $2,576,775. 0.03% of the stock is owned by corporate 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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