1248 Management LLC Makes New $644,000 Investment in S&P Global Inc. $SPGI

Key Points

• 1248 Management LLC made a new investment of approximately $644,000 in S&P Global Inc. by purchasing 1,267 shares during the first quarter.
• Major hedge funds like Graham Capital Management and E Fund Management have recently increased their stakes in S&P Global, highlighting strong interest in the company, which has 87.17% of its stock owned by institutional investors.
• S&P Global reported a 5.8% increase in quarterly revenue year-over-year, surpassing analyst expectations with an earnings per share of $4.43, above the consensus estimate of $4.18.

1248 Management LLC bought a new position in shares of S&P Global Inc. (NYSE:SPGI - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 1,267 shares of the business services provider's stock, valued at approximately $644,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Graham Capital Management L.P. acquired a new position in shares of S&P Global during the 4th quarter worth $14,040,000. GAMMA Investing LLC raised its stake in shares of S&P Global by 20.2% during the 1st quarter. GAMMA Investing LLC now owns 4,210 shares of the business services provider's stock worth $2,139,000 after buying an additional 708 shares during the last quarter. E Fund Management Co. Ltd. raised its stake in shares of S&P Global by 59.7% during the 1st quarter. E Fund Management Co. Ltd. now owns 2,909 shares of the business services provider's stock worth $1,478,000 after buying an additional 1,088 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of S&P Global by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 86,794 shares of the business services provider's stock worth $44,102,000 after buying an additional 1,166 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of S&P Global by 5.2% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 10,850 shares of the business services provider's stock worth $5,513,000 after buying an additional 536 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. UBS Group boosted their target price on shares of S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Argus raised shares of S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. Morgan Stanley boosted their target price 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 boosted their target price on shares of S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $611.69.

S&P Global Trading Up 0.2%

NYSE SPGI opened at $548.61 on Monday. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $579.05. The company has a 50-day moving average of $538.99 and a 200-day moving average of $514.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $167.49 billion, a P/E ratio of 42.20, a P/E/G ratio of 2.94 and a beta of 1.20.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.25. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the company posted $4.04 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, equities analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's dividend payout ratio is 29.54%.

About S&P Global

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.

Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc. (NYSE:SPGI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.