LGT Fund Management Co Ltd. Acquires 5,908 Shares of S&P Global Inc. $SPGI

LGT Fund Management Co Ltd. lifted its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 18.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,553 shares of the business services provider’s stock after purchasing an additional 5,908 shares during the quarter. S&P Global accounts for 1.7% of LGT Fund Management Co Ltd.’s holdings, making the stock its 12th largest position. LGT Fund Management Co Ltd.’s holdings in S&P Global were worth $19,801,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Tanglewood Wealth Management Inc. bought a new position in shares of S&P Global during the second quarter worth approximately $211,000. Quent Capital LLC increased its holdings in shares of S&P Global by 1.9% during the second quarter. Quent Capital LLC now owns 1,082 shares of the business services provider’s stock worth $571,000 after purchasing an additional 20 shares during the period. QRG Capital Management Inc. boosted its position in shares of S&P Global by 8.2% during the 2nd quarter. QRG Capital Management Inc. now owns 27,480 shares of the business services provider’s stock worth $14,490,000 after acquiring an additional 2,087 shares in the last quarter. Ascent Group LLC increased its stake in S&P Global by 0.4% in the second quarter. Ascent Group LLC now owns 9,051 shares of the business services provider’s stock valued at $4,772,000 after acquiring an additional 40 shares during the last quarter. Finally, Asset Advisors Investment Management LLC increased its stake in S&P Global by 28.5% in the second quarter. Asset Advisors Investment Management LLC now owns 4,198 shares of the business services provider’s stock valued at $2,214,000 after acquiring an additional 932 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on SPGI. 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 research note on Friday, August 1st. Seaport Res Ptn raised shares of S&P Global to a “strong-buy” rating in a research note on Wednesday. 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 research note on Thursday, July 31st. Wells Fargo & Company lifted their price objective on shares of S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Finally, UBS Group lifted their price objective on shares of S&P Global from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $614.46.

S&P Global Stock Performance

Shares of S&P Global stock opened at $479.88 on Friday. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $146.51 billion, a P/E ratio of 36.91, a P/E/G ratio of 2.55 and a beta of 1.19. The company’s 50 day moving average price is $535.36 and its two-hundred day moving average price is $514.89.

S&P Global (NYSE:SPGI) last issued its earnings results 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. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the business posted $4.04 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. On average, equities analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a $0.96 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a yield of 0.8%. S&P Global’s dividend payout ratio (DPR) is currently 29.54%.

About S&P Global

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.