International Assets Investment Management LLC Reduces Its Stake in S&P Global Inc.

International Assets Investment Management LLC has drastically reduced its holdings in S&P Global Inc. (NYSE:SPGI) by 99.8% during the fourth quarter of the year, according to recent reports from Holdings Channel.com. After selling off a substantial 466,127 shares during this period, the institutional investor now holds only 897 shares in the business services provider.

As of the end of the latest quarter, the value of International Assets Investment Management LLC's remaining shares in S&P Global is approximately $444,000. This significant reduction indicates a major shift in their investment strategy regarding the financial services company.

Other institutional investors have also made adjustments to their positions in S&P Global. Notably, First National Corp MA ADV expanded its investment by 0.9% during the third quarter, now owning 2,344 shares valued at $1,211,000 after adding 20 shares. Similarly, Kathleen S. Wright Associates Inc. boosted its stake by 25.0%, now possessing 100 shares worth around $51,000 after acquiring an additional 20 shares. Trust Point Inc. upped its holdings by 1.4%, totaling 1,404 shares valued at $725,000 after an increase of 20 shares.

Headinvest LLC also grew its position by 2.0% during the third quarter and now owns 997 shares worth $515,000 after acquiring 20 more shares. Lastly, EWA LLC raised its stake in S&P Global by 4.2%, and now has 498 shares valued at $254,000 following the purchase of an additional 20 shares.

As a result, institutional investors and hedge funds collectively hold 87.17% of S&P Global's stock, reflecting the company's significant appeal among large financial entities.

Recent Analyst Activity

In recent weeks, several equity research analysts have provided updates regarding S&P Global shares. Raymond James downgraded the stock from an “outperform” rating to a “market perform” rating in a report published on September 23rd. Conversely, Citigroup has initiated coverage with a “buy” rating and a target price of $600.00 per share as of December 20th. Evercore ISI also began coverage, assigning an “outperform” rating and a price target of $599.00.

Oppenheimer adjusted their price objective for S&P Global from $590.00 down to $580.00, maintaining an “outperform” rating in a report released on January 3rd. UBS Group raised its price target from $605.00 to $610.00, giving the stock a “buy” rating in the report dated October 25th. Currently, two analysts rate the stock as a hold, while thirteen have given it a buy rating, leading to an overall consensus rating of “Moderate Buy” with an average target price of $583.62.

Performance Metrics of S&P Global

As for the stock performance, S&P Global shares opened at $483.17 recently. The company carries a debt-to-equity ratio of 0.33, alongside a current and quick ratio both at 0.94. Additionally, S&P Global boasts a 50-day simple moving average of $504.66 and a 200-day simple moving average of $499.52. The stock has reached a fifty-two week low of $407.69 and a high of $533.29, with the firm currently valued at a market capitalization of $149.93 billion. The price-to-earnings (P/E) ratio stands at 42.65, and the earnings growth (P/E/G) ratio at 2.53, with a beta of 1.20 indicating moderate volatility.

S&P Global last released earnings results on October 24th, where it reported earnings per share (EPS) of $3.89 for the quarter, exceeding analyst expectations of $3.64 by $0.25. The company posted a return on equity of 13.72% and a net margin of 25.80%. Revenue reported for the quarter totaled $3.58 billion, which was above the anticipated $3.43 billion, marking a year-over-year increase of 15.9%. Analysts project that S&P Global will achieve earnings of $15.24 per share for the current fiscal year.

About S&P Global

S&P Global, Inc. specializes in providing transparent and independent ratings, benchmarks, analytics, and data to the global capital and commodity markets. The company operates through various segments, including Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.

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