Royal Bank of Canada Acquires 50,120 Shares of S&P Global Inc. $SPGI

Royal Bank of Canada increased its holdings in S&P Global Inc. (NYSE:SPGI) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,820,687 shares of the business services provider’s stock after purchasing an additional 50,120 shares during the quarter. Royal Bank of Canada owned approximately 0.59% of S&P Global worth $925,090,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Armistice Capital LLC acquired a new stake in shares of S&P Global during the first quarter worth $511,000. Quarry LP bought a new position in S&P Global in the first quarter worth approximately $307,000. Nomura Holdings Inc. grew its position in S&P Global by 6.7% in the 1st quarter. Nomura Holdings Inc. now owns 17,581 shares of the business services provider’s stock valued at $8,933,000 after purchasing an additional 1,100 shares during the period. Saudi Central Bank acquired a new position in shares of S&P Global during the first quarter valued at about $64,000. Finally, Benchmark Investment Advisors LLC increased its holdings in S&P Global by 362.9% during the 1st quarter. Benchmark Investment Advisors LLC now owns 2,736 shares of the business services provider’s stock worth $1,390,000 after purchasing an additional 2,145 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Performance

S&P Global stock opened at $548.61 on Friday. The firm has a market cap of $167.49 billion, a P/E ratio of 42.20, a P/E/G ratio of 2.94 and a beta of 1.19. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $579.05. The firm has a 50-day moving average of $538.99 and a 200-day moving average of $514.66. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.25. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Sell-side analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $0.96 per share. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.7%. S&P Global’s dividend payout ratio is 29.54%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPGI shares. Wells Fargo & Company raised their price target on shares of S&P Global from $632.00 to $660.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Oppenheimer increased their price target on S&P Global from $567.00 to $592.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Morgan Stanley lifted their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. BMO Capital Markets upped their price target on S&P Global from $604.00 to $621.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Argus upgraded S&P Global to a “strong-buy” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $611.69.

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.