Bank of Nova Scotia Has $57.26 Million Holdings in S&P Global Inc. $SPGI

Bank of Nova Scotia lowered its stake in shares of S&P Global Inc. (NYSE:SPGI) by 50.4% during the first quarter, HoldingsChannel reports. The fund owned 134,613 shares of the business services provider’s stock after selling 136,852 shares during the quarter. Bank of Nova Scotia’s holdings in S&P Global were worth $57,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SPGI. PBCay One RSC Ltd increased its position in shares of S&P Global by 18.6% during the first quarter. PBCay One RSC Ltd now owns 175,577 shares of the business services provider’s stock valued at $74,680,000 after purchasing an additional 27,590 shares during the period. State of Wyoming lifted its position in S&P Global by 89.2% in the first quarter. State of Wyoming now owns 263 shares of the business services provider’s stock worth $112,000 after purchasing an additional 124 shares during the period. GSG Advisors LLC boosted its stake in S&P Global by 2.5% during the first quarter. GSG Advisors LLC now owns 2,390 shares of the business services provider’s stock worth $1,016,000 after buying an additional 59 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in S&P Global by 48.5% during the first quarter. Coronation Fund Managers Ltd. now owns 98,247 shares of the business services provider’s stock worth $41,788,000 after buying an additional 32,088 shares in the last quarter. Finally, Aureus Asset Management LLC increased its holdings in S&P Global by 23.4% in the 1st quarter. Aureus Asset Management LLC now owns 89,050 shares of the business services provider’s stock valued at $37,876,000 after buying an additional 16,893 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Stock Performance

SPGI stock opened at $426.19 on Friday. The business’s fifty day moving average is $423.27 and its 200-day moving average is $442.10. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.34. The company has a market cap of $126.15 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08. S&P Global Inc. has a twelve month low of $381.61 and a twelve month high of $579.05.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.15. S&P Global had a return on equity of 17.26% and a net margin of 30.37%.The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $4.37 earnings per share. The company’s revenue for the quarter 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. Equities research analysts forecast that S&P Global Inc. will post 18.37 EPS for the current year.

S&P Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SPGI shares. Zacks Research cut shares of S&P Global from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Daiwa Securities Group dropped their price target on shares of S&P Global from $490.00 to $485.00 and set an “outperform” rating for the company in a research report on Wednesday, May 20th. Jefferies Financial Group lifted their price objective on S&P Global from $500.00 to $535.00 and gave the company a “buy” rating in a report on Monday, April 27th. Robert W. Baird raised their target price on S&P Global from $520.00 to $521.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley decreased their price target on S&P Global from $557.00 to $525.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Eighteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $533.59.

Insiders Place Their Bets

In related news, CEO Catherine R. Clay acquired 2,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $431.39 per share, for a total transaction of $1,078,475.00. Following the acquisition, the chief executive officer directly owned 2,500 shares of the company’s stock, valued at approximately $1,078,475. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Martina Cheung acquired 2,322 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was bought at an average cost of $429.93 per share, with a total value of $998,297.46. Following the acquisition, the chief executive officer owned 27,518 shares in the company, valued at $11,830,813.74. The trade was a 9.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 5,974 shares of company stock valued at $2,576,775 in the last quarter. 0.03% of the stock is currently owned by insiders.

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.