AdvisorNet Financial Inc Reduces Holdings in S&P Global Inc. $SPGI

AdvisorNet Financial Inc lowered its position in shares of S&P Global Inc. (NYSE:SPGI) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,385 shares of the business services provider’s stock after selling 185 shares during the quarter. AdvisorNet Financial Inc’s holdings in S&P Global were worth $1,258,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SPGI. Costello Asset Management INC purchased a new stake in S&P Global during the 1st quarter worth $26,000. Cheviot Value Management LLC acquired a new stake in S&P Global during the first quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in S&P Global during the second quarter worth about $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in S&P Global during the first quarter worth about $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in S&P Global by 103.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SPGI. Wells Fargo & Company upped their price target on shares of S&P Global from $660.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays upped their price target 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. Oppenheimer increased their target price on shares of S&P Global from $567.00 to $592.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. increased 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. Finally, UBS Group increased their price target on shares of S&P Global from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $614.46.

S&P Global Stock Performance

Shares of SPGI stock opened at $506.13 on Tuesday. The company has a market cap of $154.52 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.71 and a beta of 1.20. S&P Global Inc. has a 52 week low of $427.14 and a 52 week high of $579.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $542.48 and a 200-day moving average of $515.27.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.25. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the firm posted $4.04 EPS. S&P Global’s revenue was up 5.8% compared to the same quarter last year. 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 earnings per share for the current year.

S&P Global Dividend Announcement

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

S&P Global Company 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.