GAM Holding AG Grows Stake in S&P Global Inc. (NYSE:SPGI)

GAM Holding AG grew its holdings in S&P Global Inc. (NYSE:SPGI) by 21.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,162 shares of the business services provider’s stock after buying an additional 1,074 shares during the quarter. GAM Holding AG’s holdings in S&P Global were worth $3,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Dale Q Rice Investment Management Ltd purchased a new stake in S&P Global in the 1st quarter worth approximately $214,000. Canoe Financial LP lifted its stake in shares of S&P Global by 21.3% in the 1st quarter. Canoe Financial LP now owns 92,379 shares of the business services provider’s stock valued at $46,938,000 after purchasing an additional 16,195 shares during the period. Dupont Capital Management Corp lifted its stake in shares of S&P Global by 7.2% in the 1st quarter. Dupont Capital Management Corp now owns 30,282 shares of the business services provider’s stock valued at $15,386,000 after purchasing an additional 2,033 shares during the period. Rockline Wealth Management LLC lifted its stake in shares of S&P Global by 5.8% in the 1st quarter. Rockline Wealth Management LLC now owns 9,799 shares of the business services provider’s stock valued at $4,979,000 after purchasing an additional 536 shares during the period. Finally, Carret Asset Management LLC lifted its stake in shares of S&P Global by 8.9% in the 1st quarter. Carret Asset Management LLC now owns 2,464 shares of the business services provider’s stock valued at $1,252,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

SPGI has been the subject of a number of research analyst reports. Bank of America initiated coverage on S&P Global in a research note on Thursday, April 10th. They issued a “buy” rating and a $600.00 target price for the company. Robert W. Baird lowered their target price on S&P Global from $616.00 to $589.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company raised their target price on S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Mizuho initiated coverage on S&P Global in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $599.00 target price for the company. Finally, Argus upgraded S&P Global to a “strong-buy” rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $592.71.

Insiders Place Their Bets

In other S&P Global news, EVP Sally Moore sold 500 shares of S&P Global stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the completion of the sale, the executive vice president now owns 5,131 shares of the company’s stock, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

S&P Global Stock Up 0.2%

Shares of NYSE:SPGI opened at $503.85 on Friday. The stock has a fifty day simple moving average of $501.16 and a two-hundred day simple moving average of $503.44. The stock has a market capitalization of $154.53 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 2.45 and a beta of 1.20. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $545.39. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.14. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.01 earnings per share. On average, research analysts anticipate that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, May 28th. S&P Global’s payout ratio is 30.16%.

S&P Global 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.