Covington Investment Advisors Inc. Buys 3,019 Shares of S&P Global Inc. $SPGI

Covington Investment Advisors Inc. grew its stake in S&P Global Inc. (NYSE:SPGI) by 9.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 34,091 shares of the business services provider’s stock after buying an additional 3,019 shares during the quarter. S&P Global makes up approximately 1.8% of Covington Investment Advisors Inc.’s portfolio, making the stock its 19th largest holding. Covington Investment Advisors Inc.’s holdings in S&P Global were worth $13,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of S&P Global in the 4th quarter valued at approximately $2,398,991,000. EdgePoint Investment Group Inc. bought a new stake in S&P Global during the first quarter worth approximately $702,911,000. Cardano Risk Management B.V. boosted its position in S&P Global by 858.3% during the fourth quarter. Cardano Risk Management B.V. now owns 1,760,230 shares of the business services provider’s stock worth $919,879,000 after purchasing an additional 1,576,544 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in S&P Global by 2,256.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,446,633 shares of the business services provider’s stock valued at $755,996,000 after purchasing an additional 1,385,249 shares during the last quarter. Finally, Soroban Capital Partners LP grew its holdings in S&P Global by 260.3% during the first quarter. Soroban Capital Partners LP now owns 1,688,643 shares of the business services provider’s stock valued at $718,247,000 after purchasing an additional 1,219,990 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPGI. JPMorgan Chase & Co. reduced their price objective on shares of S&P Global from $555.00 to $530.00 and set an “overweight” rating for the company in a research note on Wednesday, July 29th. Stifel Nicolaus raised their target price on shares of S&P Global from $489.00 to $521.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Jefferies Financial Group lifted their target price on shares of S&P Global from $500.00 to $535.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Robert W. Baird cut their target price on shares of S&P Global from $521.00 to $513.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, Morgan Stanley decreased their price target on shares of S&P Global from $557.00 to $525.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Eighteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $523.59.

S&P Global Stock Down 0.0%

SPGI opened at $431.10 on Monday. S&P Global Inc. has a 1-year low of $381.61 and a 1-year high of $559.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $127.09 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.94 and a beta of 1.07. The business has a 50 day moving average of $422.87 and a 200-day moving average of $424.74.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, July 28th. The business services provider reported $4.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.02. S&P Global had a net margin of 31.37% and a return on equity of 17.74%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the firm posted $4.43 earnings per share. S&P Global’s revenue was up 10.4% compared to the same quarter last year. S&P Global has set its FY 2026 guidance at 17.500-17.750 EPS. As a group, sell-side analysts anticipate that S&P Global Inc. will post 17.75 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, August 26th. S&P Global’s dividend payout ratio (DPR) is currently 23.69%.

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.