Alberta Investment Management Corp Lowers Position in S&P Global Inc. (NYSE:SPGI)

Key Points

• Alberta Investment Management Corp reduced its holdings in S&P Global Inc. by 53.1% in Q1, owning 23,135 shares valued at approximately $11.76 million after selling 26,142 shares.
• S&P Global reported quarterly earnings of $4.43 per share, exceeding analyst expectations, and had revenues of $3.76 billion, reflecting a 5.8% increase year-over-year.
• The company announced a quarterly dividend of $0.96 payable on September 10, 2023, with a 0.7% dividend yield and a payout ratio of 30.16%.

Alberta Investment Management Corp lessened its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 53.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,135 shares of the business services provider's stock after selling 26,142 shares during the period. Alberta Investment Management Corp's holdings in S&P Global were worth $11,755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in S&P Global by 31.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,285 shares of the business services provider's stock valued at $2,177,000 after acquiring an additional 1,015 shares during the last quarter. Harbour Investments Inc. increased its stake in S&P Global by 8.4% in the first quarter. Harbour Investments Inc. now owns 324 shares of the business services provider's stock valued at $164,000 after acquiring an additional 25 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its stake in S&P Global by 45.5% in the first quarter. Sound View Wealth Advisors Group LLC now owns 735 shares of the business services provider's stock valued at $374,000 after acquiring an additional 230 shares during the last quarter. Hoxton Planning & Management LLC bought a new position in S&P Global in the first quarter valued at $796,000. Finally, Natixis Advisors LLC increased its stake in S&P Global by 8.8% in the first quarter. Natixis Advisors LLC now owns 258,187 shares of the business services provider's stock valued at $131,185,000 after acquiring an additional 20,778 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

S&P Global Trading Down 1.1%

Shares of SPGI stock opened at $544.86 on Friday. The stock has a market capitalization of $167.11 billion, a PE ratio of 41.91, a P/E/G ratio of 2.66 and a beta of 1.19. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $558.86. The business has a 50-day moving average of $520.65 and a 200 day moving average of $509.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.90.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results 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 company 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%. S&P Global's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $4.04 earnings per share. As a group, sell-side analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

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 paid a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.7%. S&P Global's dividend payout ratio (DPR) is presently 30.16%.

Analyst Ratings Changes

A number of research analysts recently commented on SPGI shares. Stifel Nicolaus reduced their target price on S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird reduced their target price on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Argus raised S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. increased their target price on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, BMO Capital Markets raised their price objective on S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, S&P Global has an average rating of "Moderate Buy" and an average target price of $611.69.

Insider Activity

In related news, EVP Sally Moore sold 500 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the sale, the executive vice president directly owned 5,131 shares of the company's stock, valued at $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by insiders.

S&P Global 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.

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