Confluence Wealth Services Inc. Raises Position in S&P Global Inc. $SPGI

Confluence Wealth Services Inc. increased its position in shares of S&P Global Inc. (NYSE:SPGI) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,039 shares of the business services provider’s stock after purchasing an additional 34 shares during the period. Confluence Wealth Services Inc.’s holdings in S&P Global were worth $1,075,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SPGI. Costello Asset Management INC acquired a new position in S&P Global during the first quarter worth $26,000. Cheviot Value Management LLC purchased a new stake in shares of S&P Global during the 1st quarter worth $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of S&P Global during the 2nd quarter worth $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of S&P Global in the first quarter valued at about $28,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in S&P Global by 103.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock worth $31,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SPGI shares. Citigroup lifted their price target on shares of S&P Global from $600.00 to $635.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Oppenheimer boosted their target price on S&P Global from $567.00 to $592.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Barclays raised their price target on 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 increased their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company lifted their target price on shares of S&P Global from $660.00 to $661.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $614.46.

S&P Global Stock Down 0.3%

SPGI stock opened at $478.28 on Tuesday. The company has a 50 day moving average price of $534.32 and a two-hundred day moving average price of $515.02. 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 stock has a market capitalization of $146.02 billion, a P/E ratio of 36.79, a PEG ratio of 2.55 and a beta of 1.19. S&P Global Inc. has a one year low of $427.14 and a one year high of $579.05.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.25. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, sell-side analysts expect that S&P Global Inc. will post 17.11 EPS 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. Stockholders of record on Tuesday, November 25th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global’s dividend payout ratio is presently 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.