Hardy Reed LLC Lowers Stock Holdings in S&P Global Inc. $SPGI

Hardy Reed LLC lessened its stake in shares of S&P Global Inc. (NYSE:SPGI) by 12.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 731 shares of the business services provider’s stock after selling 106 shares during the quarter. Hardy Reed LLC’s holdings in S&P Global were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of SPGI. Spear Holdings RSC Ltd grew its position in S&P Global by 75.3% in the 2nd quarter. Spear Holdings RSC Ltd now owns 138,300 shares of the business services provider’s stock valued at $72,924,000 after buying an additional 59,400 shares during the last quarter. Meitav Investment House Ltd. lifted its stake in shares of S&P Global by 2.1% in the 2nd quarter. Meitav Investment House Ltd. now owns 4,875 shares of the business services provider’s stock worth $2,539,000 after acquiring an additional 100 shares during the period. Motiv8 Investments LLC boosted its holdings in shares of S&P Global by 10.8% in the second quarter. Motiv8 Investments LLC now owns 2,478 shares of the business services provider’s stock valued at $1,307,000 after acquiring an additional 242 shares in the last quarter. D.B. Root & Company LLC increased its stake in shares of S&P Global by 128.6% during the second quarter. D.B. Root & Company LLC now owns 1,054 shares of the business services provider’s stock worth $556,000 after acquiring an additional 593 shares during the period. Finally, Relyea Zuckerberg Hanson LLC increased its stake in shares of S&P Global by 4.4% during the second quarter. Relyea Zuckerberg Hanson LLC now owns 964 shares of the business services provider’s stock worth $508,000 after acquiring an additional 41 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on SPGI. Barclays raised their price objective on shares of S&P Global from $610.00 to $620.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Citigroup raised their price target on S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a report on Monday, September 15th. Wells Fargo & Company lifted their price target on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Oppenheimer raised their target price on S&P Global from $567.00 to $592.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of S&P Global from $575.00 to $625.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $614.46.

S&P Global Trading Down 0.3%

Shares of SPGI opened at $478.28 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $534.32 and a 200-day simple moving average of $515.02. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $579.05. The stock has a market cap of $146.02 billion, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 2.55 and a beta of 1.19.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping the consensus estimate 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%.S&P Global’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. Equities analysts forecast that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $0.96 per share. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. S&P Global’s payout ratio is 29.54%.

About S&P Global

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.