TCI Fund Management Ltd. recently announced the acquisition of new stake in S&P Global Inc. (NYSE:SPGI). The institutional investor has increased its shareholding in the Financial company by 4.75% to 9.18 million shares with purchase of 0.42 million shares. This fresh investment now brings its stake to 2.85% valued currently at $3.13 billion. In addition, JPMorgan Investment Management, I raised its holdings by 0.77 million to 5.28 million shares.
With over 2.25 million S&P Global Inc. (SPGI) shares trading Monday and a closing price of $324.79 on the day, the dollar volume was approximately $730.09 million. The shares have shown a negative half year performance of -12.08% and its price on 03/13/23 lost nearly -0.54%. Currently, there are 324.10M common shares owned by the public and among those 318.68M shares have been available to trade.
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The analysts have set the share’s price value over the next 12 months at a high of $434.00 and a low of $340.00. The average price target is 20.2% above its recent price level and an upside to the estimated low will see the stock gain 4.47% over that period. But an upside of 25.16% will see the stock hit the forecast high price target while median target price for the stock is $403.00.
Insiders at the company have transacted a total of 106 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 42 of these insider trades were purchases, accounting for 48,728 shares. Insider sales of the common stock occurred on 64 occasions, with total insider shares sold totaling 103,655 shares.
The top 3 mutual fund holders in S&P Global Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Fidelity 500 Index Fund. Vanguard Total Stock Market Index owns 9.99 million shares of the company’s stock, all valued at over $3.41 billion. The company bought an additional 78274.0 shares recently to bring their total holdings to about 3.10% of the shares outstanding. Vanguard 500 Index Fund bought 18255.0 shares to see its total holdings expand to 7.72 million shares valued at over $2.63 billion and representing 2.40% of the shares outstanding. Fidelity 500 Index Fund sold 4826.0 shares to bring its total holdings to over 3.64 million shares at a value of $1.24 billion. Fidelity 500 Index Fund now owns shares totaling to 1.13% of the shares outstanding.
Shares of S&P Global Inc. (NYSE: SPGI) opened at $324.73, down -$1.81 from a prior closing price of $326.54. However, the script later moved the day high at 329.96, down -0.54%. The company’s stock has a 5-day price change of -7.55% and -7.94% over the past three months. SPGI shares are trading -3.03% year to date (YTD), with the 12-month market performance down to -15.14% lower. It has a 12-month low price of $279.32 and touched a high of $423.55 over the same period. SPGI has an average intraday trading volume of 1.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.77%, -8.69%, and -6.09% respectively.
Institutional ownership of S&P Global Inc. (NYSE: SPGI) shares accounts for 91.70% of the company’s 324.10M shares outstanding. Mutual fund holders own 41.84%, while other institutional holders and individual stakeholders account for 48.34% and 0.25% respectively.
It has a market capitalization of $106.95B and a beta (3y monthly) value of 1.12. The stock’s trailing 12-month PE ratio is 30.94, while the earnings-per-share (ttm) stands at $10.50. The company has a PEG of 2.36 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 0.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.42% over the week and 2.29% over the month.
Analysts forecast that S&P Global Inc. (SPGI) will achieve an EPS of $2.9 for the current quarter, $3.11 for the next quarter and $14.44 for 2024. The lowest estimate earnings-per-share for the quarter is $2.62 while analysts give the company a high EPS estimate of $3.22. Comparatively, EPS for the current quarter was $2.89 a year ago. Earnings per share for the fiscal year are expected to decrease by -18.50%, and 15.07% over the next financial year. EPS should grow at an annualized rate of 13.10% over the next five years, compared to 9.90% over the past 5-year period.
Looking at the support for the SPGI, a number of firms have released research notes about the stock. Atlantic Equities stated their Overweight rating for the stock in a research note on November 07, 2022, with the firm’s price target at $356-$386. Jefferies coverage for the S&P Global Inc. (SPGI) stock in a research note released on October 25, 2022 offered a Buy rating with a price target of $397. Redburn was of a view on May 17, 2022 that the stock is Buy, while Deutsche Bank gave the stock Buy rating on March 30, 2022, issuing a price target of $515. Credit Suisse on their part issued Outperform rating on March 24, 2022.
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