Soroban Capital Partners LP Has $718.25 Million Stake in S&P Global Inc. $SPGI

Soroban Capital Partners LP raised its holdings in shares of S&P Global Inc. (NYSE:SPGI) by 260.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,688,643 shares of the business services provider’s stock after buying an additional 1,219,990 shares during the period. S&P Global comprises approximately 1.4% of Soroban Capital Partners LP’s portfolio, making the stock its 9th largest position. Soroban Capital Partners LP owned about 0.57% of S&P Global worth $718,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Joseph Group Capital Management bought a new stake in S&P Global in the fourth quarter valued at approximately $29,000. North Star Investment Management Corp. increased its stake in shares of S&P Global by 134.6% in the fourth quarter. North Star Investment Management Corp. now owns 61 shares of the business services provider’s stock worth $32,000 after buying an additional 35 shares during the period. Palisade Asset Management LLC purchased a new position in shares of S&P Global in the third quarter worth $36,000. Palladiem LLC bought a new stake in S&P Global during the 4th quarter valued at $36,000. Finally, Swiss RE Ltd. purchased a new stake in S&P Global during the 4th quarter valued at $39,000. 87.17% of the stock is owned by institutional investors.

Insider Activity at S&P Global

In related news, CEO Catherine R. Clay purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost of $431.39 per share, with a total value of $1,078,475.00. Following the completion of the purchase, the chief executive officer directly owned 2,500 shares in the company, valued at approximately $1,078,475. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Martina Cheung purchased 2,322 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was bought at an average cost of $429.93 per share, with a total value 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 $11,830,813.74. This represents a 9.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 5,974 shares of company stock worth $2,576,775 over the last 90 days. 0.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SPGI shares. Weiss Ratings reissued a “hold (c)” rating on shares of S&P Global in a report on Monday, July 6th. Royal Bank Of Canada lowered their price objective on shares of S&P Global from $560.00 to $510.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Jefferies Financial Group increased their target price on shares of S&P Global from $500.00 to $535.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Wells Fargo & Company cut their target price on S&P Global from $530.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, April 13th. Finally, Evercore reduced their price target on S&P Global from $625.00 to $560.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Eighteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $533.59.

S&P Global Stock Performance

NYSE:SPGI opened at $439.25 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $423.71 and its 200 day simple moving average is $440.76. The stock has a market cap of $130.02 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. S&P Global Inc. has a twelve month low of $381.61 and a twelve month high of $579.05.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $4.97 EPS for the quarter, topping the consensus estimate of $4.82 by $0.15. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business earned $4.37 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts predict that S&P Global Inc. will post 18.37 EPS for the current year.

S&P Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given a dividend of $0.97 per share. The ex-dividend date is Wednesday, August 26th. This represents a $3.88 annualized dividend and a dividend yield of 0.9%. S&P Global’s payout ratio is currently 24.56%.

S&P Global Company 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.