Soroban Capital Partners LP Increases Stock Holdings in S&P Global Inc. $SPGI

Soroban Capital Partners LP lifted its holdings in S&P Global Inc. (NYSE:SPGI) by 260.3% during the first quarter, Holdings Channel reports. The institutional investor owned 1,688,643 shares of the business services provider’s stock after acquiring an additional 1,219,990 shares during the quarter. S&P Global makes up approximately 1.4% of Soroban Capital Partners LP’s investment portfolio, making the stock its 9th biggest position. Soroban Capital Partners LP’s holdings in S&P Global were worth $718,247,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SPGI. Brighton Jones LLC lifted its position in S&P Global by 4.7% during the 4th quarter. Brighton Jones LLC now owns 3,176 shares of the business services provider’s stock valued at $1,582,000 after acquiring an additional 143 shares during the period. Sivia Capital Partners LLC grew its holdings in S&P Global by 7.8% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the business services provider’s stock worth $547,000 after purchasing an additional 75 shares during the period. Neuberger Berman Group LLC grew its holdings in S&P Global by 5.5% in the second quarter. Neuberger Berman Group LLC now owns 1,694,790 shares of the business services provider’s stock worth $893,511,000 after purchasing an additional 88,526 shares during the period. Jump Financial LLC bought a new position in shares of S&P Global during the second quarter valued at approximately $552,000. Finally, Main Street Financial Solutions LLC increased its stake in shares of S&P Global by 17.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,212 shares of the business services provider’s stock valued at $1,694,000 after purchasing an additional 472 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on SPGI shares. Barclays dropped their target price on S&P Global from $565.00 to $555.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Zacks Research downgraded S&P Global from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Wall Street Zen raised S&P Global to a “hold” rating in a research report on Saturday, July 4th. Rothschild & Co Redburn dropped their price target on shares of S&P Global from $540.00 to $520.00 and set a “buy” rating on the stock in a research note on Thursday, June 18th. Finally, Stifel Nicolaus increased their price objective on shares of S&P Global from $489.00 to $521.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Eighteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.59.

S&P Global Stock Performance

Shares of SPGI stock opened at $439.25 on Tuesday. The company has a 50 day moving average price of $423.71 and a 200-day moving average price of $440.76. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $579.05. The firm has a market capitalization of $130.02 billion, a PE ratio of 27.80, a P/E/G ratio of 2.16 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Tuesday, April 28th. The business services provider reported $4.97 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.15. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.08 billion. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.37 earnings per share. As a group, equities research analysts expect that S&P Global Inc. will post 18.37 earnings per share for the current year.

S&P Global Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Catherine R. Clay purchased 2,500 shares of the stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $431.39 per share, with a total value of $1,078,475.00. Following the acquisition, the chief executive officer directly owned 2,500 shares of the company’s stock, valued at $1,078,475. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz purchased 1,152 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $434.03 per share, for a total transaction of $500,002.56. Following the completion of the purchase, the director owned 1,152 shares in the company, valued at approximately $500,002.56. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 5,974 shares of company stock valued at $2,576,775. Company insiders own 0.03% of the company’s stock.

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.