Sawgrass Asset Management LLC Sells 1,636 Shares of S&P Global Inc. $SPGI

Sawgrass Asset Management LLC lessened its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,752 shares of the business services provider’s stock after selling 1,636 shares during the quarter. Sawgrass Asset Management LLC’s holdings in S&P Global were worth $4,260,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of S&P Global by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 30,094,919 shares of the business services provider’s stock valued at $15,868,750,000 after purchasing an additional 315,916 shares in the last quarter. TCI Fund Management Ltd. boosted its holdings in S&P Global by 7.0% in the second quarter. TCI Fund Management Ltd. now owns 11,091,623 shares of the business services provider’s stock worth $5,848,502,000 after purchasing an additional 730,354 shares in the last quarter. Geode Capital Management LLC increased its position in S&P Global by 0.6% during the second quarter. Geode Capital Management LLC now owns 6,793,282 shares of the business services provider’s stock worth $3,565,889,000 after buying an additional 42,724 shares during the last quarter. Norges Bank bought a new position in S&P Global during the second quarter valued at about $2,188,945,000. Finally, Valeo Financial Advisors LLC increased its holdings in shares of S&P Global by 70,734.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock valued at $1,670,671,000 after acquiring an additional 3,163,938 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

S&P Global Stock Down 1.2%

SPGI opened at $533.12 on Friday. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The company has a market capitalization of $161.43 billion, a P/E ratio of 38.77, a P/E/G ratio of 2.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s fifty day moving average price is $514.76 and its two-hundred day moving average price is $517.32.

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

S&P Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be given a dividend of $0.97 per share. This is a boost from S&P Global’s previous quarterly dividend of $0.96. The ex-dividend date is Wednesday, February 25th. This represents a $3.88 annualized dividend and a dividend yield of 0.7%. S&P Global’s dividend payout ratio is 27.93%.

Analyst Upgrades and Downgrades

SPGI has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of S&P Global from $620.00 to $627.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $640.00 target price on shares of S&P Global in a report on Tuesday, December 16th. Seaport Research Partners upgraded S&P Global to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of S&P Global in a research report on Monday, December 29th. Finally, Evercore ISI boosted their target price on shares of S&P Global from $629.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $615.64.

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.