Alta Capital Management LLC Grows Stake in S&P Global Inc. $SPGI

Key Points

• Alta Capital Management LLC increased its stake in S&P Global Inc. by 3.4% in Q2, now owning 87,137 shares valued at approximately $45.9 million.
• Several hedge funds have significantly increased their holdings in S&P Global, with Valeo Financial Advisors growing its stake by an astonishing 70,734.1%.
• S&P Global recently announced a quarterly $0.96 dividend with a projected annualized payout of $3.84, representing a 0.8% dividend yield.

Alta Capital Management LLC grew its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,137 shares of the business services provider's stock after purchasing an additional 2,860 shares during the period. S&P Global makes up 2.6% of Alta Capital Management LLC's holdings, making the stock its 14th largest position. Alta Capital Management LLC's holdings in S&P Global were worth $45,947,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SPGI. Valeo Financial Advisors LLC grew its stake in shares of S&P Global by 70,734.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider's stock valued at $1,670,671,000 after buying an additional 3,163,938 shares during the period. Nuveen LLC purchased a new stake in S&P Global in the first quarter valued at $1,103,665,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of S&P Global by 70.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock valued at $826,819,000 after buying an additional 670,392 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of S&P Global by 26.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock valued at $1,497,493,000 after buying an additional 614,809 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of S&P Global by 37.9% during the first quarter. Alliancebernstein L.P. now owns 766,154 shares of the business services provider's stock worth $389,283,000 after acquiring an additional 210,373 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Stock Performance

Shares of SPGI opened at $482.74 on Thursday. The firm's 50 day moving average is $525.15 and its 200-day moving average is $513.76. The stock has a market capitalization of $147.38 billion, a P/E ratio of 37.13, a P/E/G ratio of 2.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05.

S&P Global (NYSE:SPGI - Get Free Report) last released its earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. The business had revenue of $1.87 billion for the quarter. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. Equities research analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global's payout ratio is presently 29.54%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SPGI. Evercore ISI upped their target price on shares of S&P Global from $613.00 to $619.00 and gave the stock an "outperform" rating in a research report on Tuesday. Seaport Res Ptn raised shares of S&P Global to a "strong-buy" rating in a research note on Wednesday, October 1st. Wells Fargo & Company increased their price target on shares of S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of S&P Global in a research note on Wednesday, October 8th. Finally, Oppenheimer increased their price objective on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $615.69.

S&P Global Company 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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