Suncoast Equity Management Sells 4,264 Shares of S&P Global Inc. $SPGI

Suncoast Equity Management trimmed its position in S&P Global Inc. (NYSE:SPGI) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,096 shares of the business services provider’s stock after selling 4,264 shares during the quarter. S&P Global accounts for 2.5% of Suncoast Equity Management’s holdings, making the stock its 16th biggest holding. Suncoast Equity Management’s holdings in S&P Global were worth $19,995,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPGI. Brighton Jones LLC boosted its position in shares of S&P Global by 4.7% in the fourth quarter. Brighton Jones LLC now owns 3,176 shares of the business services provider’s stock valued at $1,582,000 after acquiring an additional 143 shares during the period. Sivia Capital Partners LLC grew its stake in shares of S&P Global by 7.8% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the business services provider’s stock valued at $547,000 after acquiring an additional 75 shares in the last quarter. Neuberger Berman Group LLC increased its position in S&P Global by 5.5% during the second quarter. Neuberger Berman Group LLC now owns 1,694,790 shares of the business services provider’s stock worth $893,511,000 after acquiring an additional 88,526 shares during the period. Jump Financial LLC bought a new position in S&P Global during the second quarter worth about $552,000. Finally, Main Street Financial Solutions LLC raised its stake in S&P Global by 17.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,212 shares of the business services provider’s stock worth $1,694,000 after purchasing an additional 472 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SPGI. Bank of America cut their price objective on shares of S&P Global from $575.00 to $550.00 and set a “buy” rating for the company in a report on Friday, July 10th. The Goldman Sachs Group lowered their target price on shares of S&P Global from $539.00 to $490.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of S&P Global in a research report on Monday, July 6th. JPMorgan Chase & Co. cut their price target on S&P Global from $555.00 to $530.00 and set an “overweight” rating for the company in a research note on Wednesday, July 29th. Finally, Morgan Stanley cut their price target on S&P Global from $557.00 to $525.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. Eighteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and an average target price of $523.59.

S&P Global Stock Down 1.1%

SPGI stock opened at $418.15 on Friday. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $565.28. The business has a 50-day simple moving average of $422.53 and a 200 day simple moving average of $429.14. 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 company has a market cap of $123.27 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07.

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

S&P Global Dividend Announcement

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

About S&P Global

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.