Corebridge Financial Inc. Lowers Stake in S&P Global Inc. $SPGI

Corebridge Financial Inc. reduced its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 4.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 84,589 shares of the business services provider’s stock after selling 4,055 shares during the period. Corebridge Financial Inc.’s holdings in S&P Global were worth $42,980,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Stegent Equity Advisors Inc. grew its position in S&P Global by 3.1% during the 1st quarter. Stegent Equity Advisors Inc. now owns 659 shares of the business services provider’s stock worth $335,000 after purchasing an additional 20 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its stake in shares of S&P Global by 0.7% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 2,859 shares of the business services provider’s stock worth $1,453,000 after acquiring an additional 20 shares during the period. Integrated Investment Consultants LLC lifted its stake in shares of S&P Global by 2.8% in the 1st quarter. Integrated Investment Consultants LLC now owns 762 shares of the business services provider’s stock worth $387,000 after acquiring an additional 21 shares during the period. Hemington Wealth Management lifted its stake in shares of S&P Global by 8.0% in the 1st quarter. Hemington Wealth Management now owns 284 shares of the business services provider’s stock worth $144,000 after acquiring an additional 21 shares during the period. Finally, Retirement Planning Group LLC lifted its stake in shares of S&P Global by 0.4% in the 4th quarter. Retirement Planning Group LLC now owns 5,762 shares of the business services provider’s stock worth $2,870,000 after acquiring an additional 22 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SPGI. Wells Fargo & Company raised their target price on shares of S&P Global from $632.00 to $660.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Robert W. Baird reduced their target price on shares of S&P Global from $616.00 to $589.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Morgan Stanley raised their target price on shares of S&P Global from $595.00 to $615.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Argus upgraded shares of S&P Global to a “strong-buy” rating in a research note on Friday, May 16th. Finally, Barclays raised their target price on shares of S&P Global from $610.00 to $620.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $611.69.

S&P Global Stock Performance

Shares of SPGI opened at $555.93 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock has a market cap of $169.73 billion, a P/E ratio of 42.76, a PEG ratio of 2.98 and a beta of 1.19. The company has a 50-day moving average of $534.30 and a two-hundred day moving average of $513.75. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.25. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, research analysts predict 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, September 10th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.96 per share. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.7%. 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.