Gabelli Funds LLC Cuts Stock Position in S&P Global Inc. $SPGI

Gabelli Funds LLC lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 7.0% during the 2nd quarter, Holdings Channel reports. The firm owned 105,032 shares of the business services provider’s stock after selling 7,923 shares during the period. Gabelli Funds LLC’s holdings in S&P Global were worth $42,775,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SPGI. Dorsey Asset Management LLC purchased a new position in shares of S&P Global during the 1st quarter worth about $94,716,000. Troy Asset Management Ltd grew its holdings in S&P Global by 26.2% during the 4th quarter. Troy Asset Management Ltd now owns 41,706 shares of the business services provider’s stock valued at $21,795,000 after purchasing an additional 8,652 shares during the last quarter. Capital International Inc. CA raised its position in S&P Global by 11.6% in the 4th quarter. Capital International Inc. CA now owns 70,716 shares of the business services provider’s stock worth $36,955,000 after purchasing an additional 7,343 shares during the period. Pictet Asset Management Holding SA raised its position in S&P Global by 6.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 205,642 shares of the business services provider’s stock worth $107,480,000 after purchasing an additional 11,843 shares during the period. Finally, ABN Amro Investment Solutions lifted its stake in S&P Global by 6.3% in the fourth quarter. ABN Amro Investment Solutions now owns 151,284 shares of the business services provider’s stock worth $79,060,000 after purchasing an additional 8,997 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SPGI. BMO Capital Markets boosted their price objective on S&P Global from $495.00 to $505.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Mizuho boosted their target price on shares of S&P Global from $551.00 to $554.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Stifel Nicolaus upped their price target on shares of S&P Global from $489.00 to $521.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Morgan Stanley reduced their price target on shares of S&P Global from $557.00 to $525.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of S&P Global from $539.00 to $490.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Eighteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $523.59.

S&P Global Trading Down 0.2%

NYSE SPGI opened at $431.10 on Friday. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $559.44. The company has a 50 day moving average price of $422.87 and a 200 day moving average price of $425.46. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market cap of $127.09 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.07.

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

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a $0.97 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.9%. S&P Global’s dividend payout ratio is presently 23.69%.

S&P Global 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.