Penobscot Investment Management Company Inc. Has $9.49 Million Stock Position in S&P Global Inc. $SPGI

Penobscot Investment Management Company Inc. lessened its stake in S&P Global Inc. (NYSE:SPGI) by 0.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,004 shares of the business services provider’s stock after selling 142 shares during the quarter. S&P Global accounts for 0.8% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 29th biggest position. Penobscot Investment Management Company Inc.’s holdings in S&P Global were worth $9,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in S&P Global by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 29,779,003 shares of the business services provider’s stock worth $15,130,711,000 after purchasing an additional 108,729 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of S&P Global by 3.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,186,250 shares of the business services provider’s stock worth $1,618,934,000 after buying an additional 114,843 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of S&P Global by 26.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider’s stock worth $1,497,493,000 after buying an additional 614,809 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of S&P Global by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,762,187 shares of the business services provider’s stock worth $1,403,468,000 after buying an additional 97,324 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in S&P Global in the 1st quarter valued at approximately $1,103,665,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of S&P Global in a research report on Saturday, September 27th. Barclays raised their target price 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. Morgan Stanley boosted their price target on shares of S&P Global from $595.00 to $615.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Wells Fargo & Company raised their price objective on S&P Global from $660.00 to $661.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, UBS Group lifted their target price on S&P Global from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $614.46.

S&P Global Trading Up 0.7%

Shares of NYSE:SPGI opened at $479.88 on Friday. S&P Global Inc. has a 52-week low of $427.14 and a 52-week high of $579.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $146.51 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 2.55 and a beta of 1.19. The company has a 50-day simple moving average of $535.36 and a 200 day simple moving average of $514.89.

S&P Global (NYSE:SPGI) last released its quarterly earnings data 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 return on equity of 15.11% and a net margin of 27.30%.The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the company earned $4.04 earnings per share. The business’s revenue for the quarter 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. Sell-side analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

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 given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. S&P Global’s payout ratio is 29.54%.

S&P Global 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.