Fred Alger Management LLC Has $163.37 Million Position in S&P Global Inc. $SPGI

Key Points

• Fred Alger Management LLC reduced its stake in S&P Global Inc. by 20.3%, ending with 321,528 shares valued at approximately $163.37 million.
• Multiple large investors, including Brighton Jones LLC and Bank Pictet & Cie Europe AG, have recently increased their holdings in S&P Global, indicating strong institutional interest as 87.17% of the stock is owned by institutional investors.
• S&P Global reported a 5.8% year-over-year revenue increase with earnings per share of $4.43, surpassing estimates, while also announcing a quarterly dividend of $0.96 per share.

Fred Alger Management LLC lessened its position in S&P Global Inc. (NYSE:SPGI - Free Report) by 20.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 321,528 shares of the business services provider's stock after selling 81,729 shares during the period. S&P Global makes up 0.9% of Fred Alger Management LLC's portfolio, making the stock its 22nd biggest position. Fred Alger Management LLC owned approximately 0.10% of S&P Global worth $163,368,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Nuveen LLC bought a new position in S&P Global in the 1st quarter valued at about $1,103,665,000. GAMMA Investing LLC boosted its position in shares of S&P Global by 60,982.3% during the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock valued at $1,086,877,000 after purchasing an additional 2,135,599 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of S&P Global by 70.1% during the 1st 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 purchasing an additional 670,392 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of S&P Global by 26.4% during the 1st 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 purchasing an additional 614,809 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of S&P Global during the 4th quarter valued at about $238,503,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several recent analyst reports. Argus upgraded shares of S&P Global to a "strong-buy" rating in a report on Friday, May 16th. Barclays raised their target price on shares of S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. BMO Capital Markets raised 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. UBS Group increased their price target on shares of S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $611.69.

S&P Global Stock Performance

SPGI stock traded down $5.62 during midday trading on Friday, hitting $545.26. 1,008,379 shares of the company traded hands, compared to its average volume of 993,151. S&P Global Inc. has a twelve month low of $427.14 and a twelve month high of $579.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The business has a 50 day simple moving average of $542.91 and a 200-day simple moving average of $515.19. The stock has a market capitalization of $166.47 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 2.95 and a beta of 1.20.

S&P Global (NYSE:SPGI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.25. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.65 billion. S&P Global had a net margin of 27.30% and a return on equity of 15.11%. S&P Global's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $4.04 earnings per share. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, equities research analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th were paid a $0.96 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.7%. S&P Global's dividend payout ratio (DPR) is presently 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.