Assenagon Asset Management S.A. Sells 276,761 Shares of S&P Global Inc. $SPGI

Key Points

• Assenagon Asset Management cut its stake in S&P Global by 70% in the first quarter, selling 276,761 shares and leaving it with 118,817 shares worth about $50.5 million.
• Insiders were buying: Director Robert Edward Jr. Moritz and CEO Martina Cheung both purchased shares in late April, and insiders bought 5,974 shares total over the past three months.
• S&P Global posted better-than-expected Q1 results, with EPS of $4.97 and revenue of $4.17 billion, while analysts remain mostly bullish with a consensus Moderate Buy rating and a $545.28 price target.

Assenagon Asset Management S.A. lessened its stake in shares of S&P Global Inc. (NYSE:SPGI - Free Report) by 70.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,817 shares of the business services provider's stock after selling 276,761 shares during the quarter. Assenagon Asset Management S.A.'s holdings in S&P Global were worth $50,538,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cidel Asset Management Inc. boosted its position in S&P Global by 36.4% during the first quarter. Cidel Asset Management Inc. now owns 1,095 shares of the business services provider's stock worth $466,000 after purchasing an additional 292 shares during the period. HHM Wealth Advisors LLC boosted its position in shares of S&P Global by 12.6% during the 1st quarter. HHM Wealth Advisors LLC now owns 268 shares of the business services provider's stock valued at $114,000 after acquiring an additional 30 shares during the last quarter. Signal Advisors Wealth LLC raised its position in shares of S&P Global by 21.6% during the 1st quarter. Signal Advisors Wealth LLC now owns 5,613 shares of the business services provider's stock valued at $2,387,000 after buying an additional 996 shares in the last quarter. Athena Wealth Management LLC lifted its stake in S&P Global by 22.1% during the first quarter. Athena Wealth Management LLC now owns 524 shares of the business services provider's stock worth $223,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbour Wealth Management Group Inc. boosted its stake in S&P Global by 24.3% in the first quarter. Harbour Wealth Management Group Inc. now owns 1,433 shares of the business services provider's stock worth $610,000 after buying an additional 280 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other S&P Global news, Director Robert Edward Jr. Moritz purchased 1,152 shares of S&P Global stock in a transaction dated Thursday, April 30th. The stock was acquired at an average price of $434.03 per share, for a total transaction of $500,002.56. Following the acquisition, the director owned 1,152 shares in the company, valued at $500,002.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Martina Cheung acquired 2,322 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were acquired at an average price of $429.93 per share, for a total transaction of $998,297.46. Following the completion of the purchase, the chief executive officer owned 27,518 shares of the company's stock, valued at approximately $11,830,813.74. This represents a 9.22% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 5,974 shares of company stock worth $2,576,775 in the last three months. Corporate insiders own 0.03% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on SPGI shares. Wells Fargo & Company decreased their price objective on S&P Global from $530.00 to $525.00 and set an "overweight" rating on the stock in a report on Monday, April 13th. JPMorgan Chase & Co. upped their target price on S&P Global from $530.00 to $550.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Rothschild & Co Redburn cut their target price on 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. The Goldman Sachs Group reaffirmed a "buy" rating on shares of S&P Global in a report on Tuesday, April 28th. Finally, Morgan Stanley lifted their price target on shares of S&P Global from $556.00 to $557.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Eighteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $545.28.

S&P Global Price Performance

Shares of S&P Global stock opened at $395.41 on Friday. S&P Global Inc. has a one year low of $381.61 and a one year high of $579.05. The stock has a market cap of $117.04 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50 day moving average price of $421.79 and a 200-day moving average price of $453.35.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $4.97 EPS for the quarter, topping analysts' consensus estimates 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 revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.37 EPS. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. Equities analysts expect that S&P Global Inc. will post 19.61 EPS for the current year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. S&P Global's payout ratio is currently 24.56%.

S&P Global Profile

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.

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