Kanawha Capital Management LLC Has $6.01 Million Stock Holdings in S&P Global Inc. (NYSE:SPGI)

04 Nov 2024, 13:16 by Amy Steele · The Cerbat Gem

Kanawha Capital Management LLC boosted its holdings in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 52.2% during the third quarter, HoldingsChannel reports. The fund owned 11,640 shares of the business services provider’s stock after purchasing an additional 3,991 shares during the quarter. Kanawha Capital Management LLC’s holdings in S&P Global were worth $6,013,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPGI. First National Corp MA ADV boosted its holdings in S&P Global by 0.9% in the third quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock valued at $1,211,000 after acquiring an additional 20 shares during the last quarter. Kathleen S. Wright Associates Inc. lifted its position in shares of S&P Global by 25.0% in the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock worth $51,000 after purchasing an additional 20 shares during the period. Trust Point Inc. boosted its stake in shares of S&P Global by 1.4% in the 3rd quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after purchasing an additional 20 shares during the last quarter. Sapient Capital LLC increased its position in shares of S&P Global by 2.5% during the second quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock worth $385,000 after buying an additional 21 shares during the period. Finally, Chatham Capital Group Inc. increased its position in shares of S&P Global by 0.5% during the second quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock worth $2,007,000 after buying an additional 21 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPGI shares. Stifel Nicolaus upped their price target on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Royal Bank of Canada upped their target price on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their target price on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays boosted their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $571.31.

Read Our Latest Report on SPGI

Insiders Place Their Bets

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by insiders.

S&P Global Stock Performance

Shares of S&P Global stock opened at $483.31 on Monday. S&P Global Inc. has a 52 week low of $365.00 and a 52 week high of $533.29. The company has a quick ratio of 1.03, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $512.45 and a 200-day moving average price of $473.62. The company has a market cap of $149.97 billion, a PE ratio of 42.66, a price-to-earnings-growth ratio of 2.47 and a beta of 1.18.

S&P Global (NYSE:SPGI – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the firm posted $3.21 EPS. S&P Global’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts anticipate that S&P Global Inc. will post 15.16 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.75%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

About S&P Global

(Free Report)