Socorro Asset Management LP Acquires Shares of 12,154 S&P Global Inc. $SPGI

Socorro Asset Management LP acquired a new position in shares of S&P Global Inc. (NYSE:SPGI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,154 shares of the business services provider’s stock, valued at approximately $5,170,000. S&P Global accounts for 2.3% of Socorro Asset Management LP’s holdings, making the stock its 27th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPGI. Vanguard Group Inc. increased its position in S&P Global by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 30,374,366 shares of the business services provider’s stock worth $15,873,340,000 after acquiring an additional 117,728 shares during the period. State Street Corp boosted its holdings in S&P Global by 1.1% in the 4th quarter. State Street Corp now owns 14,259,690 shares of the business services provider’s stock valued at $7,451,971,000 after purchasing an additional 157,301 shares during the period. TCI Fund Management Ltd. grew its position in shares of S&P Global by 5.4% during the 4th quarter. TCI Fund Management Ltd. now owns 11,790,310 shares of the business services provider’s stock worth $6,161,498,000 after purchasing an additional 600,440 shares in the last quarter. Morgan Stanley grew its position in shares of S&P Global by 3.3% during the 4th quarter. Morgan Stanley now owns 8,333,099 shares of the business services provider’s stock worth $4,354,796,000 after purchasing an additional 263,051 shares in the last quarter. Finally, Norges Bank bought a new position in shares of S&P Global during the fourth quarter worth approximately $2,398,991,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Activity

In other S&P Global news, Director Robert Edward Jr. Moritz acquired 1,152 shares of S&P Global stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost of $434.03 per share, with a total value of $500,002.56. Following the completion of the purchase, the director directly owned 1,152 shares of the company’s stock, valued at $500,002.56. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Catherine R. Clay bought 2,500 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was acquired at an average price of $431.39 per share, for a total transaction of $1,078,475.00. Following the transaction, the chief executive officer owned 2,500 shares of the company’s stock, valued at approximately $1,078,475. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 5,974 shares of company stock worth $2,576,775. Insiders own 0.03% of the company’s stock.

S&P Global Stock Performance

Shares of S&P Global stock opened at $439.25 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34. The company has a market cap of $130.02 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08. The company has a 50 day moving average of $423.71 and a 200-day moving average of $440.76. S&P Global Inc. has a 1-year low of $381.61 and a 1-year high of $579.05.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $4.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm posted $4.37 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that S&P Global Inc. will post 18.37 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a $0.97 dividend. 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 dividend payout ratio (DPR) is presently 24.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SPGI shares. Rothschild & Co Redburn dropped their price target on shares of S&P Global from $540.00 to $520.00 and set a “buy” rating for the company in a research report on Thursday, June 18th. Stifel Nicolaus increased their price target on S&P Global from $489.00 to $521.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Jefferies Financial Group raised their price objective on S&P Global from $500.00 to $535.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. The Goldman Sachs Group dropped their price objective on S&P Global from $539.00 to $490.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. upped their target price on S&P Global from $535.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Eighteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.59.

About S&P Global

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.