S&P Global (SPGI) Stock Price, News & Forecast Before the Bell – December 1, 2025

As U.S. markets get ready to open on Monday, December 1, 2025, S&P Global Inc. (NYSE: SPGI) enters the new month trading just under the $500 mark after a strong run into the end of November and a flurry of fresh institutional, analyst and valuation commentary between November 28–30, 2025.

Below is a comprehensive, Google News–style look at S&P Global’s stock price, latest news, analysis and forecasts heading into today’s session.

SPGI stock price snapshot heading into December 1, 2025

• Last regular-session close (Fri, Nov 28, 2025):
  $498.83, up 0.65% on the day, marking a third straight daily gain. ^[1]
• After-hours (Nov 28, 5:00 p.m. ET):
  SPGI edged slightly lower to about $498.35, suggesting no strong directional conviction into the weekend. ^[2]
• Intraday range on Nov 28:
  Low around $495.7, high just above $500, with relatively tight <1% intraday volatility. ^[3]
• Market capitalization: about $151 billion. ^[4]
• Valuation ratios (trailing):
  • P/E (ttm): ~36x
  • Forward P/E: ~26x
  • Price-to-book: ~4.5x (based on book value per share around $109) ^[5]
• Dividends:
  • Annualized dividend $3.84 per share (yield ~0.8%)
  • Most recent ex-dividend date: November 25, 2025
  • S&P Global has raised its dividend for 12 consecutive years and paid dividends for 55 straight years, according to recent Investor Day materials. ^[6]
• Trading range & performance:
  • 52‑week range: approx. $427 – $579 ^[7]
  • Last 30 days: up about 5–6% ^[8]
  • Last 12 months: down roughly 4–5%, underperforming the broader S&P 500, which is up about 16% year to date. ^[9]

In short, S&P Global stock heads into December near the upper half of its 12‑month range, with recent momentum but still lagging the broader market over the past year.

Why SPGI rallied into the end of November

Although most of the headline corporate news for S&P Global landed earlier in the quarter, investors spent the last days of November digesting three big fundamental pillars: a strong Q3 earnings beat, a detailed long‑term growth roadmap, and continued capital allocation to acquisitions and buybacks.

1. Q3 2025 earnings: broad‑based growth and guidance raised

On October 30, 2025, S&P Global reported Q3 2025 results that beat Wall Street expectations across revenue and earnings: ^[10]

• Revenue: about $3.89 billion, up ~9% year over year, slightly ahead of analyst estimates.
• Organic constant-currency revenue growth:+9%.
• Adjusted operating profit: up 16% year over year, with ~180 bps of margin expansion.
• Adjusted diluted EPS:$4.73, up 22% year over year and roughly 7% above consensus.
• Ratings segment: double‑digit organic growth as tighter credit spreads fueled a rebound in bond issuance.
• Indices segment: ~11% organic growth as assets and derivatives tied to S&P indices continued to rise.

Management also raised full‑year 2025 guidance, tightening revenue growth expectations and lifting the midpoint of adjusted EPS guidance into the $17.60–$17.85 range, up from prior guidance around $17.00–$17.25. ^[11]

This combination of accelerating earnings, stronger margins and higher guidance underpins much of the bullish analyst commentary appearing between November 28–30.

2. Investor Day: medium‑term targets and a 30 million‑share buyback

At its Investor Day on November 13, 2025, S&P Global laid out its “next phase” growth strategy and announced a sizable new share repurchase program of up to 30 million shares—nearly 10% of current shares outstanding. ^[12]

Key medium‑term targets from Investor Day include: ^[13]

• Organic constant‑currency revenue growth:7–9% per year
• Adjusted operating margin expansion:50–75 bps per year
• Adjusted diluted EPS:double‑digit annual growth

Segment‑specific revenue growth targets were also provided, such as 6–9% for Ratings and 10–12% for S&P Dow Jones Indices, reinforcing the view that the company expects robust demand for its ratings, benchmarks and data over multiple years. ^[14]

The company further reiterated a capital‑return framework targeting the return of roughly 85% of adjusted free cash flow to shareholders via dividends and buybacks, including a $2.5 billion accelerated share repurchase expected in Q4 2025. ^[15]

3. Private markets and AI: With Intelligence and data‑platform expansion

On November 25, 2025, S&P Global completed its $1.8 billion acquisition of With Intelligence, a private‑markets data and workflow provider. The deal extends S&P Global’s reach across alternative investments and private markets workflows, with coverage of over 70,000 funds, 30,000 investors and 350,000 deals, and is expected to deliver meaningful revenue and cost synergies. ^[16]

This transaction follows other moves such as:

• AI‑driven product launches on platforms like Capital IQ Pro and Platts,
• a report on “AI agent‑ready” infrastructure, and
• the rebranding of S&P Global Commodity Insights as “S&P Global Energy” to reflect a broader energy‑focused mandate. ^[17]

The result: heading into the final trading day of November, SPGI is widely perceived as a high‑quality, data‑and‑AI‑driven compounder, which helps explain its premium valuation.

Fresh news & analysis on SPGI from November 28–30, 2025

Between November 28 and 30, several new pieces of research, news and forecasts surfaced that investors are digesting before the bell on December 1.

1. Institutional flows: big money shuffles its SPGI exposure

MarketBeat published multiple 13F‑based updates over the weekend: ^[18]

• Mackenzie Financial Corp increased its SPGI position by about 1.4% in Q2, to roughly 1.17 million shares valued around $617 million, representing about 0.38% of the company.
• Northwestern Mutual Wealth Management boosted its holdings by roughly 11% to over 130,000 shares.
• Meanwhile, Edgewood Management LLC trimmed its position by about 7.1%, but SPGI still accounts for approximately 4.2% of its portfolio and remains one of its largest holdings.

Across these filings, MarketBeat notes that institutional and hedge fund investors own roughly 87% of S&P Global’s outstanding shares, underscoring the stock’s status as an institutional core holding. ^[19]

Takeaway: despite some profit‑taking by select managers, net institutional ownership remains very high, which tends to support liquidity but can also amplify moves if sentiment shifts.

2. Analyst consensus: strong buy, double‑digit upside

A fresh MarketBeat summary dated November 30, 2025 highlights that: ^[20]

• 17 sell‑side analysts currently cover SPGI.
• The stock carries an average rating of “Buy” (often framed as Strong Buy).
• The average 12‑month price target sits around $613 per share, with estimates ranging from roughly $546 on the low end to $661 at the high end.

That implies about 22–23% upside from Friday’s close near $499. Similar numbers appear on StockAnalysis.com, which shows a consensus target around $609 and a “Strong Buy” consensus. ^[21]

Recent target changes cited in this window include: ^[22]

• BMO Capital: price target raised from $538 to $546 (Outperform).
• Evercore ISI: raised from $619 to $629 (Outperform).
• JPMorgan: trimmed from $635 to $615 but maintained an Overweight rating after Q3’s beat and guidance raise.

Takeaway: the sell‑side narrative remains broadly bullish, with most analysts seeing SPGI as a long‑term compounder justified by its dominant position in ratings, indices and data.

3. Valuation debate: premium multiples vs. “overvalued” models

On November 29–30, more valuation‑focused research painted a more cautious picture.

Simply Wall St & environmental‑data angle

A valuation report from Simply Wall St, updated November 30, assigns SPGI a valuation score of just 1/6, arguing that the shares are about 59% above its modeled fair value of roughly $313 per share, based on a discounted cash‑flow analysis. ^[23]

Key points from that analysis:

• PE ratio: about 35.8x, versus a U.S. capital‑markets industry average of 23.8x and a fair PE estimate of 18.2x for SPGI specifically. ^[24]
• Peer comparison: SPGI trades at a premium to peers like CME and ICE, though it’s closer to Moody’s on growth and valuation. ^[25]
• Analyst target overlay: the same dataset shows an average 12‑month target of around $609–$611, implying ~22% upside, even as the DCF model flags overvaluation. ^[26]

A related article titled “Has S&P Global’s Expansion Into Environmental Data Shifted Its True Value in 2025?” revisits SPGI’s push into environmental and ESG data, noting: ^[27]

• The stock is up roughly 1–1.5% over the last week and month but still down ~3.8% over the last year.
• Expansion into environmental and climate‑related datasets supports the growth story, but the shares still screen as expensive on most valuation metrics.

StockStory: high quality, but not cheap

A research update from StockStory, refreshed on November 29, describes SPGI as a “high quality” business with: ^[28]

• Five‑year annualized revenue growth: about 15.5%.
• Two‑year annual revenue growth: around 10.6%, still comfortably above many financial peers.
• Average ROE over five years: roughly 26%, described as “exceptional.”
• Forward P/E: about 25.8x, which the authors characterize as expensive, but potentially justified by quality and growth.

Their conclusion: SPGI is a great long‑term business that may still be worth owning even at a premium multiple, but they caution investors to be prepared for short‑term volatility if macro conditions or sentiment change.

Bottom line on valuation:
Across analyses published Nov 28–30, a consistent story emerges: Wall Street analysts are bullish with 20–25% upside targets, while independent valuation models often call the stock overvalued relative to DCF‑based fair value and peer multiples. The disagreement reflects SPGI’s blend of high quality + high expectations.

4. Technical and short‑term price forecasts into December 1

Short‑term, several algorithmic and technical services issued updated forecasts over the weekend.

StockInvest.us: “Hold/accumulate” with limited near‑term upside

A technical note updated November 28 by StockInvest.us highlights: ^[29]

• SPGI gained 0.65% on Friday, from $495.61 to $498.83, its third consecutive up day.
• The stock has risen in 7 of the last 10 sessions, but is still down about 0.8% over that 10‑day span.
• Price currently sits in the upper part of a wide, falling short‑term trend channel, which the model sees as a potential short‑term selling zone for traders.
• Volume fell on the up day, creating a bearish divergence that could foreshadow near‑term consolidation or pullback.

Their model: ^[30]

• Flags SPGI as a “hold/accumulate” rather than an outright buy.
• Projects a possible 3‑month decline of about 8.6%, with a 90% probability band between roughly $411 and $465 if current conditions persist.
• Suggests support around $493–$489 and near‑term resistance near $499–$500 based on volume and Fibonacci levels.

Most relevant for today’s session (Dec 1), StockInvest’s trading expectations call for: ^[31]

• A “fair opening price” around $498.24, very close to Friday’s close.
• An expected intraday range roughly between $494.7 and $503.0 (±1.7%), assuming normal volatility.

CoinCodex: quant model sees flat price action

A short‑term forecast table from CoinCodex similarly shows minimal price drift: ^[32]

• Nov 30, 2025: $498.83
• Dec 1, 2025: $498.56
• Dec 2, 2025: $498.50
• Dec 3, 2025: $498.63

In other words, its model expects SPGI to trade essentially sideways around the $498–$499 level in the very near term.

Important: these are algorithmic, price‑based models, not fundamental research. They should be treated as one input among many, not as guarantees.

Macro backdrop: a powerful late‑November rally

The broader market context matters for SPGI because its revenues are tightly linked to capital‑markets activity, index assets and risk appetite.

According to multiple market summaries: ^[33]

• In the final week of November, the S&P 500 rose about 3.7%, delivering its best Thanksgiving week performance since 2008.
• A combination of expectations for a Federal Reserve rate cut in December and the end of quantitative tightening fueled a broad risk‑asset rebound — from stocks to Treasuries, commodities and crypto.
• Reuters notes the S&P 500 is up around 16% in 2025, and investors are entering the historically strong month of December focused on AI profitability, macro data and the trajectory of interest rates.

For S&P Global, this environment is double‑edged:

• Positive: tighter credit spreads and strong risk appetite support bond issuance, a key driver for the Ratings segment, and keep assets in index‑linked products elevated. ^[34]
• Risk: if the market begins worrying again about overheated valuations or AI‑driven capex cycles, premium‑multiple names like SPGI can see multiple compression even if fundamentals remain solid. ^[35]

Fundamental snapshot: growth, margins and balance sheet

Pulling together the recent research updates:

• Revenue growth:
  • ~15.5% annualized over five years;
  • ~10.6% over the last two years;
  • 8.8–9% in the latest quarter. ^[36]
• Profitability:
  • Q3 pre‑tax profit margin around 41%;
  • Adjusted operating margin near 50%, with multiyear expansion. ^[37]
• Return on equity:
  • About 26% average ROE over the last five years, notably above the ~10% that’s typical for many financials. ^[38]
• Balance sheet:
  • Debt‑to‑equity ratio around 0.4x, which StockStory characterizes as comfortable and not a red flag for a financials business. ^[39]
• Capital returns:
  • Long history of dividend growth plus an aggressive buyback plan (new 30M‑share authorization + a $2.5B ASR in Q4) aimed at returning roughly 85% of adjusted free cash flow to shareholders over time. ^[40]

Together, these metrics underpin the “quality at a price” narrative: SPGI is highly profitable with strong competitive moats, but investors are paying a premium multiple for that quality and for the growth embedded in its AI, ESG and private‑markets expansions.

SPGI stock outlook before the market opens on December 1, 2025

Short‑term (today and the coming days)

Looking solely at information available before the opening bell:

• Price baseline: Friday’s close near $498.83 and after‑hours tick to about $498.35 leave SPGI effectively flat heading into Monday. ^[41]
• Technical ranges: short‑term models cluster around an opening near $498 with potential intraday swings roughly between $495 and $503, assuming typical volatility. ^[42]
• Momentum: the stock enjoys a three‑day winning streak and has been positive in 7 of the last 10 sessions, but recent gains came on lighter volume, which may invite consolidation rather than a straight continuation higher. ^[43]

In practice, SPGI’s intraday direction today is likely to track:

1. Moves in U.S. Treasury yields and credit spreads, which influence Ratings issuance; ^[44]
2. Broad market sentiment, especially if investors extend the late‑November rally or start to lock in profits; ^[45]
3. Any incremental headlines about private‑markets integration, AI products, or the upcoming Goldman Sachs financial services conference on December 9, where S&P Global’s CEO is slated to present. ^[46]

Given the flat near‑term quantitative forecasts and the premium valuation, the risk‑reward for short‑term traders today may skew towards range trading around the $500 level rather than a decisive breakout.

Medium‑term (next 12–18 months)

Across the research published Nov 28–30, the medium‑term picture is fairly consistent:

Bullish factors

• Strong Q3 beat and raised guidance;
• Medium‑term targets for 7–9% organic revenue growth and margin expansion; ^[47]
• Structural tailwinds in indexation, private‑markets data, ESG & environmental data and AI‑driven analytics; ^[48]
• Substantial capital returns through dividends and buybacks;
• Heavy institutional ownership and a consensus 12‑month price target in the $610 region, implying roughly 20–25% upside. ^[49]

Risks and cautions

• Valuation is elevated on P/E, DCF and peer comparisons, with some models suggesting 50–60% overvaluation relative to intrinsic value. ^[50]
• Technical models foresee a possible single‑digit percentage pullback over the next three months as the stock trades near the top of a falling short‑term trend channel. ^[51]
• SPGI’s business is partly cyclical: a slowdown in bond issuance, weaker equity markets or renewed macro stress could pressure Ratings and Indices revenues. ^[52]

What to watch on SPGI today

Investors following S&P Global stock before and during today’s session may want to keep an eye on:

1. Credit and rates markets
   • Moves in Treasury yields and credit spreads, which affect issuance volumes and Ratings revenue. ^[53]
2. Broad equity indices
   • Whether the S&P 500 can extend its best Thanksgiving‑week rally since 2008, or whether we see profit‑taking after a sharp November rebound. ^[54]
3. Follow‑through on institutional flows
   • Any new 13F or holdings disclosures could reinforce the picture of net accumulation vs. trimming among large funds. ^[55]
4. Newsflow around AI, ESG and private markets
   • Updates on the integration of With Intelligence, new AI‑enabled tools, or environmental/ESG data offerings could support the premium growth narrative. ^[56]
5. Conference calendar
   • The upcoming Goldman Sachs financial services conference on December 9 may bring fresh commentary on margins, capital returns and strategic priorities. ^[57]

Final thoughts

Heading into the December 1, 2025 open, S&P Global stock sits near $500, supported by strong fundamentals, upbeat analyst forecasts and heavy institutional ownership, but challenged by a rich valuation and some short‑term technical signals calling for consolidation.

For traders, the near‑term story looks like a tight trading range around key support/resistance levels near $495–$503. For longer‑term investors, the debate is whether SPGI’s quality, AI‑driven growth initiatives and private‑markets expansion justify paying mid‑30s earnings multiples.

Either way, SPGI remains one of the most closely watched financial‑data names as December trading begins.

Disclaimer: This article is for information and news purposes only and does not constitute financial advice, investment recommendation or an offer to buy or sell any security. Always do your own research or consult a licensed financial adviser before making investment decisions.

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