Prime Capital Investment Advisors LLC Cuts Stake in S&P Global Inc. $SPGI

Prime Capital Investment Advisors LLC reduced its stake in S&P Global Inc. (NYSE:SPGI) by 29.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,613 shares of the business services provider’s stock after selling 2,820 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in S&P Global were worth $3,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. D.B. Root & Company LLC boosted its holdings in shares of S&P Global by 128.6% in the 2nd quarter. D.B. Root & Company LLC now owns 1,054 shares of the business services provider’s stock worth $556,000 after buying an additional 593 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of S&P Global by 4.4% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 964 shares of the business services provider’s stock worth $508,000 after buying an additional 41 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in shares of S&P Global by 1.7% in the 2nd quarter. Confluence Wealth Services Inc. now owns 2,039 shares of the business services provider’s stock worth $1,075,000 after buying an additional 34 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in shares of S&P Global by 21.4% in the 2nd quarter. Valley National Advisers Inc. now owns 142 shares of the business services provider’s stock worth $74,000 after buying an additional 25 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of S&P Global by 70,734.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock worth $1,670,671,000 after buying an additional 3,163,938 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of S&P Global in a report on Saturday, September 27th. JPMorgan Chase & Co. upped their price objective on shares of S&P Global from $575.00 to $625.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Morgan Stanley upped their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Barclays upped their price objective on shares of S&P Global from $610.00 to $620.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, UBS Group upped their price objective on shares of S&P Global from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $614.46.

S&P Global Trading Up 0.5%

Shares of SPGI opened at $480.91 on Wednesday. The business’s 50-day moving average price is $533.31 and its 200-day moving average price is $514.78. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The stock has a market cap of $146.82 billion, a PE ratio of 36.99, a P/E/G ratio of 2.54 and a beta of 1.19. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34.

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

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global’s dividend payout ratio is 29.54%.

S&P Global 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.