Corebridge Financial Inc. Reduces Holdings in S&P Global Inc. (NYSE:SPGI)

Corebridge Financial Inc. lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,644 shares of the business services provider’s stock after selling 1,566 shares during the quarter. Corebridge Financial Inc.’s holdings in S&P Global were worth $44,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB grew its stake in S&P Global by 11.8% during the 3rd quarter. Swedbank AB now owns 871,588 shares of the business services provider’s stock valued at $450,280,000 after purchasing an additional 92,115 shares during the last quarter. Howard Capital Management Group LLC lifted its holdings in shares of S&P Global by 3.2% during the third quarter. Howard Capital Management Group LLC now owns 911 shares of the business services provider’s stock worth $471,000 after purchasing an additional 28 shares during the period. Eagle Asset Management Inc. boosted its position in S&P Global by 53.8% in the third quarter. Eagle Asset Management Inc. now owns 5,536 shares of the business services provider’s stock valued at $2,784,000 after buying an additional 1,936 shares during the last quarter. GenTrust LLC acquired a new position in S&P Global in the 3rd quarter worth approximately $274,000. Finally, Great Valley Advisor Group Inc. raised its position in S&P Global by 11.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 591 shares of the business services provider’s stock worth $305,000 after buying an additional 62 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Performance

NYSE:SPGI opened at $497.62 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $153.17 billion, a PE ratio of 40.29, a P/E/G ratio of 2.41 and a beta of 1.20. S&P Global Inc. has a fifty-two week low of $407.69 and a fifty-two week high of $545.39. The company has a fifty day moving average of $513.85 and a two-hundred day moving average of $510.40.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same quarter in the prior year, the firm posted $3.13 earnings per share. As a group, research analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th were paid a $0.96 dividend. The ex-dividend date was Wednesday, February 26th. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.77%. S&P Global’s payout ratio is currently 31.09%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SPGI. Evercore ISI increased their price objective on shares of S&P Global from $599.00 to $608.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price target on S&P Global from $617.00 to $633.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Citigroup initiated coverage on S&P Global in a report on Friday, December 20th. They issued a “buy” rating and a $600.00 price objective for the company. UBS Group lifted their price target on S&P Global from $610.00 to $640.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets boosted their price target on S&P Global from $576.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and an average target price of $590.86.

S&P Global Company 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.