Assetmark Inc. Grows Stock Holdings in S&P Global Inc. $SPGI

Assetmark Inc. lifted its stake in S&P Global Inc. (NYSE:SPGI) by 23.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,141 shares of the business services provider’s stock after purchasing an additional 2,115 shares during the period. Assetmark Inc.’s holdings in S&P Global were worth $5,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPGI. Valeo Financial Advisors LLC boosted its holdings in S&P Global by 70,734.1% in the second quarter. Valeo Financial Advisors LLC now owns 3,168,411 shares of the business services provider’s stock valued at $1,670,671,000 after purchasing an additional 3,163,938 shares during the period. Nuveen LLC purchased a new position in S&P Global in the first quarter valued at $1,103,665,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in S&P Global by 70.1% in the first 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 during the period. Price T Rowe Associates Inc. MD boosted its holdings in S&P Global by 26.4% in the first 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 during the period. Finally, Alliancebernstein L.P. boosted its holdings in S&P Global by 37.9% in the first quarter. Alliancebernstein L.P. now owns 766,154 shares of the business services provider’s stock valued at $389,283,000 after purchasing an additional 210,373 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Performance

NYSE SPGI opened at $487.37 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $507.44 and its two-hundred day moving average is $515.66. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05. The stock has a market capitalization of $148.80 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.50 and a beta of 1.19.

S&P Global (NYSE:SPGI) last released its earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The company had revenue of $1.87 billion for the quarter. Research analysts expect that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a dividend of $0.96 per share. The ex-dividend date is Tuesday, November 25th. This represents a $3.84 annualized dividend and a yield of 0.8%. S&P Global’s payout ratio is presently 27.93%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPGI. Seaport Res Ptn upgraded S&P Global to a “strong-buy” rating in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of S&P Global in a research note on Wednesday, October 8th. UBS Group raised their price target on S&P Global from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. BMO Capital Markets reiterated an “outperform” rating and set a $538.00 target price on shares of S&P Global in a research report on Friday. Finally, Mizuho lifted their target price on S&P Global from $637.00 to $643.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $612.38.

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.