Assetmark Inc. Has $671,000 Stake in S&P Global Inc. (NYSE:SPGI)

Assetmark Inc. grew its position in S&P Global Inc. (NYSE:SPGI) by 19.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,298 shares of the business services provider’s stock after purchasing an additional 208 shares during the quarter. Assetmark Inc.’s holdings in S&P Global were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pegasus Partners Ltd. boosted its stake in shares of S&P Global by 25.3% in the third quarter. Pegasus Partners Ltd. now owns 940 shares of the business services provider’s stock valued at $486,000 after buying an additional 190 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of S&P Global in the third quarter valued at approximately $1,130,000. Capital Performance Advisors LLP bought a new stake in shares of S&P Global in the third quarter valued at approximately $31,000. AIA Group Ltd boosted its stake in shares of S&P Global by 32.9% in the third quarter. AIA Group Ltd now owns 11,213 shares of the business services provider’s stock valued at $5,793,000 after buying an additional 2,776 shares during the period. Finally, Dudley Capital Management LLC bought a new stake in shares of S&P Global in the third quarter valued at approximately $417,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Price Performance

Shares of NYSE SPGI opened at $503.29 on Friday. S&P Global Inc. has a fifty-two week low of $401.79 and a fifty-two week high of $533.29. The company has a 50 day simple moving average of $510.62 and a two-hundred day simple moving average of $478.13. The company has a market capitalization of $156.17 billion, a price-to-earnings ratio of 44.42, a P/E/G ratio of 2.61 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.25. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $3.21 earnings per share. Analysts expect that S&P Global Inc. will post 15.25 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.72%. S&P Global’s payout ratio is 32.13%.

Wall Street Analysts Forecast Growth

SPGI has been the subject of several recent analyst reports. BMO Capital Markets cut their target price on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company increased their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Barclays increased their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Stifel Nicolaus increased their price target on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada increased their price target on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $571.31.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.