Resona Asset Management Co. Ltd. Has $58.98 Million Position in S&P Global Inc. $SPGI

Resona Asset Management Co. Ltd. raised its stake in S&P Global Inc. (NYSE:SPGI) by 8.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 120,899 shares of the business services provider’s stock after buying an additional 9,595 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in S&P Global were worth $58,975,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SPGI. MTM Investment Management LLC acquired a new stake in shares of S&P Global during the 2nd quarter worth approximately $27,000. J.Safra Asset Management Corp bought a new position in S&P Global in the third quarter valued at about $29,000. Spurstone Advisory Services LLC acquired a new position in S&P Global during the second quarter worth about $34,000. Howard Hughes Medical Institute acquired a new position in S&P Global during the second quarter worth about $36,000. Finally, First Pacific Financial lifted its stake in S&P Global by 51.0% in the 3rd quarter. First Pacific Financial now owns 74 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $533.12 on Friday. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The stock’s 50 day moving average is $514.76 and its 200-day moving average is $517.38. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $161.43 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 2.30 and a beta of 1.21.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 30th. The business services provider reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of $4.26 by $0.47. S&P Global had a net margin of 28.10% and a return on equity of 15.90%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business posted $3.89 EPS. S&P Global’s quarterly revenue was up 8.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 14.800-15.050 EPS. Sell-side analysts forecast that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be issued a $0.97 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from S&P Global’s previous quarterly dividend of $0.96. S&P Global’s dividend payout ratio (DPR) is currently 28.22%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Seaport Research Partners raised S&P Global to a “strong-buy” rating in a research note on Wednesday, October 1st. Stifel Nicolaus reduced their price objective on shares of S&P Global from $625.00 to $599.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Mizuho lifted their target price on shares of S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of S&P Global in a report on Monday, December 29th. Finally, Morgan Stanley increased their price target on S&P Global from $620.00 to $627.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $615.64.

S&P Global Company Profile

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.