Assetmark Inc. Purchases 7,400 Shares of S&P Global Inc. (NYSE:SPGI)

Assetmark Inc. grew its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 455.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,026 shares of the business services provider's stock after purchasing an additional 7,400 shares during the quarter. Assetmark Inc.'s holdings in S&P Global were worth $4,586,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SPGI. Cetera Investment Advisers grew its stake in shares of S&P Global by 0.9% in the 1st quarter. Cetera Investment Advisers now owns 91,099 shares of the business services provider's stock worth $46,287,000 after acquiring an additional 785 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of S&P Global by 3.3% in the first quarter. Avantax Advisory Services Inc. now owns 20,607 shares of the business services provider's stock worth $10,470,000 after buying an additional 666 shares in the last quarter. Davis Rea LTD. purchased a new stake in shares of S&P Global in the first quarter worth about $4,727,000. One Wealth Advisors LLC lifted its holdings in shares of S&P Global by 31.1% in the first quarter. One Wealth Advisors LLC now owns 1,889 shares of the business services provider's stock worth $960,000 after buying an additional 448 shares in the last quarter. Finally, Innova Wealth Partners purchased a new stake in S&P Global in the first quarter valued at approximately $208,000. 87.17% of the stock is owned by institutional investors.

S&P Global Price Performance

SPGI stock traded up $0.52 during midday trading on Tuesday, hitting $530.93. The company's stock had a trading volume of 1,145,624 shares, compared to its average volume of 856,019. S&P Global Inc. has a 12 month low of $427.14 and a 12 month high of $545.39. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $162.84 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.55 and a beta of 1.19. The company has a 50 day moving average of $518.61 and a two-hundred day moving average of $507.86.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.14. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company posted $4.01 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.72%. S&P Global's dividend payout ratio is currently 30.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of 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. Bank of America started coverage on shares of S&P Global in a report on Thursday, April 10th. They issued a "buy" rating and a $600.00 target price on the stock. Oppenheimer lifted their price target on shares of S&P Global from $567.00 to $592.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Argus raised S&P Global to a "strong-buy" rating in a research report on Friday, May 16th. Finally, Morgan Stanley lifted their price target on S&P Global from $587.00 to $595.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $601.07.

Insider Activity at S&P Global

In other news, EVP Sally Moore sold 500 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the transaction, the executive vice president directly owned 5,131 shares in the company, valued at approximately $2,619,016.33. This represents a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company's stock.

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.