Cresset Asset Management LLC Has $8.02 Million Stake in S&P Global Inc. $SPGI

Key Points

• Cresset Asset Management LLC reduced its holdings in S&P Global Inc. by 29.1%, selling 6,480 shares and retaining 15,780 shares worth approximately $8 million.
• Multiple institutional investors, including Vanguard Group and Goldman Sachs, have recently increased their stakes in S&P Global, which now has 87.17% of its stock owned by institutional investors.
• S&P Global reported a quarterly EPS of $4.43, exceeding expectations and declaring a quarterly dividend of $0.96, indicating a yield of 0.7%.

Cresset Asset Management LLC trimmed its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 29.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,780 shares of the business services provider's stock after selling 6,480 shares during the quarter. Cresset Asset Management LLC's holdings in S&P Global were worth $8,018,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC acquired a new position in S&P Global during the first quarter worth $1,103,665,000. GAMMA Investing LLC increased its holdings in S&P Global by 60,982.3% during the first quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock worth $1,086,877,000 after buying an additional 2,135,599 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in S&P Global by 70.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock worth $826,819,000 after buying an additional 670,392 shares during the last quarter. Northern Trust Corp increased its holdings in S&P Global by 19.1% during the fourth quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider's stock worth $1,631,568,000 after buying an additional 525,347 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in S&P Global during the fourth quarter worth $238,503,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

A number of equities 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 report on Wednesday, April 30th. Wells Fargo & Company boosted their target price on shares of S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. BMO Capital Markets boosted their target price on shares of S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Stifel Nicolaus lowered their target price on shares of S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, S&P Global currently has an average rating of "Buy" and a consensus price target of $611.69.

S&P Global Stock Performance

S&P Global stock traded up $3.4380 during mid-day trading on Wednesday, hitting $557.8680. 1,553,448 shares of the company's stock traded hands, compared to its average volume of 1,205,192. The firm has a 50 day simple moving average of $531.39 and a two-hundred day simple moving average of $512.95. S&P Global Inc. has a fifty-two week low of $427.14 and a fifty-two week high of $579.05. The stock has a market cap of $170.32 billion, a price-to-earnings ratio of 42.91, a P/E/G ratio of 2.97 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 (NYSE:SPGI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.25. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the firm posted $4.04 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. On average, research analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared 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. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's payout ratio is 29.54%.

About S&P Global

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.