Alta Capital Management LLC Sells 12,687 Shares of S&P Global Inc. $SPGI

Key Points

• Alta Capital Management reduced its stake in S&P Global by 15.3% in the fourth quarter, selling 12,687 shares and leaving it with 70,457 shares worth about $36.8 million.
• S&P Global reported strong quarterly results, with EPS of $4.97 beating estimates and revenue of $4.17 billion topping forecasts, while revenue rose 10.4% year over year.
• Insider buying and analyst support remain positive: CEO Martina Cheung and Director Robert Edward Jr. Moritz both bought shares, and the stock still carries a consensus “Moderate Buy” rating with a $550 average target price.

Alta Capital Management LLC cut its holdings in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,457 shares of the business services provider's stock after selling 12,687 shares during the period. S&P Global accounts for 2.5% of Alta Capital Management LLC's holdings, making the stock its 14th biggest holding. Alta Capital Management LLC's holdings in S&P Global were worth $36,821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in S&P Global by 17.7% during the third quarter. Jones Financial Companies Lllp now owns 66,809 shares of the business services provider's stock valued at $32,541,000 after acquiring an additional 10,044 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in S&P Global by 324.8% during the third quarter. Prime Capital Investment Advisors LLC now owns 28,094 shares of the business services provider's stock valued at $13,673,000 after acquiring an additional 21,481 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in S&P Global by 3.3% during the third quarter. Envestnet Asset Management Inc. now owns 938,251 shares of the business services provider's stock valued at $456,656,000 after acquiring an additional 30,080 shares during the last quarter. Collier Financial purchased a new stake in S&P Global during the third quarter valued at approximately $2,865,000. Finally, Candriam S.C.A. lifted its position in S&P Global by 13.4% during the third quarter. Candriam S.C.A. now owns 124,659 shares of the business services provider's stock valued at $60,673,000 after acquiring an additional 14,700 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

S&P Global Trading Up 3.5%

NYSE SPGI opened at $417.30 on Tuesday. The company has a fifty day simple moving average of $427.27 and a two-hundred day simple moving average of $468.58. The stock has a market cap of $123.52 billion, a P/E ratio of 26.41, a P/E/G ratio of 1.72 and a beta of 1.11. S&P Global Inc. has a 12-month low of $381.61 and a 12-month high of $579.05. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last issued its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.15. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The firm had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the company posted $4.37 earnings per share. The firm's revenue was up 10.4% compared to the same quarter last year. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. On average, analysts forecast that S&P Global Inc. will post 19.59 earnings per share for the current year.

Insider Buying and Selling

In other S&P Global news, CEO Martina Cheung bought 2,322 shares of S&P Global stock in a transaction that occurred on Wednesday, April 29th. The stock was purchased at an average price of $429.93 per share, with a total value of $998,297.46. Following the completion of the acquisition, the chief executive officer directly owned 27,518 shares in the company, valued at approximately $11,830,813.74. This trade represents a 9.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz bought 1,152 shares of S&P Global stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost of $434.03 per share, with a total value of $500,002.56. Following the acquisition, the director owned 1,152 shares of the company's stock, valued at $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. Insiders acquired a total of 5,974 shares of company stock valued at $2,576,775 over the last 90 days. Insiders own 0.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SPGI shares. Morgan Stanley increased their target price on shares of S&P Global from $556.00 to $557.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. UBS Group decreased their price target on shares of S&P Global from $620.00 to $550.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. Weiss Ratings cut shares of S&P Global from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, March 11th. JPMorgan Chase & Co. raised their price target on shares of S&P Global from $530.00 to $550.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company decreased their price target on shares of S&P Global from $530.00 to $525.00 and set an "overweight" rating for the company in a report on Monday, April 13th. Sixteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $550.00.

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.