Cannell & Spears LLC Lowers Stake in S&P Global Inc. $SPGI

Cannell & Spears LLC cut its position in shares of S&P Global Inc. (NYSE:SPGI) by 41.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,999 shares of the business services provider’s stock after selling 2,803 shares during the period. Cannell & Spears LLC’s holdings in S&P Global were worth $1,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of S&P Global by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 30,374,366 shares of the business services provider’s stock valued at $15,873,340,000 after acquiring an additional 117,728 shares in the last quarter. State Street Corp grew its stake in shares of S&P Global by 1.1% in the fourth quarter. State Street Corp now owns 14,259,690 shares of the business services provider’s stock valued at $7,451,971,000 after buying an additional 157,301 shares in the last quarter. TCI Fund Management Ltd. grew its stake in shares of S&P Global by 5.4% in the fourth quarter. TCI Fund Management Ltd. now owns 11,790,310 shares of the business services provider’s stock valued at $6,161,498,000 after buying an additional 600,440 shares in the last quarter. Morgan Stanley raised its holdings in shares of S&P Global by 3.3% during the 4th quarter. Morgan Stanley now owns 8,333,099 shares of the business services provider’s stock valued at $4,354,796,000 after buying an additional 263,051 shares during the period. Finally, Norges Bank purchased a new stake in shares of S&P Global during the 4th quarter valued at about $2,398,991,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Edward Jr. Moritz acquired 1,152 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $434.03 per share, with a total value of $500,002.56. Following the completion of the acquisition, the director directly owned 1,152 shares in the company, valued at $500,002.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Martina Cheung acquired 2,322 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was purchased at an average cost of $429.93 per share, with a total value of $998,297.46. Following the completion of the acquisition, the chief executive officer owned 27,518 shares of the company’s stock, valued at $11,830,813.74. The trade was a 9.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 5,974 shares of company stock worth $2,576,775. 0.03% of the stock is currently owned by corporate insiders.

S&P Global Stock Up 1.5%

Shares of NYSE:SPGI opened at $426.19 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $423.27 and a 200 day simple moving average of $442.10. The firm has a market cap of $126.15 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. S&P Global Inc. has a 12-month low of $381.61 and a 12-month high of $579.05.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.15. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the company posted $4.37 earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. On average, equities research analysts anticipate that S&P Global Inc. will post 18.37 EPS for the current fiscal year.

S&P Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 26th. S&P Global’s dividend payout ratio is 24.56%.

Analysts Set New Price Targets

Several equities analysts recently commented on SPGI shares. Morgan Stanley reduced their price target on S&P Global from $557.00 to $525.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Royal Bank Of Canada dropped their price objective on shares of S&P Global from $560.00 to $510.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Zacks Research cut shares of S&P Global from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Rothschild & Co Redburn decreased their target price on shares of S&P Global from $540.00 to $520.00 and set a “buy” rating for the company in a research note on Thursday, June 18th. Finally, Barclays lowered their price target on shares of S&P Global from $565.00 to $555.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Eighteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $533.59.

About S&P Global

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.