Empirical Financial Services LLC, operating as Empirical Wealth Management, recently made a significant strategic move by substantially increasing its investment in S&P Global Inc. (NYSE:SPGI). This decision reflects a growing confidence in the business services provider’s market position and future prospects, as detailed in the firm’s latest disclosure with the Securities and Exchange Commission (SEC).
The wealth management firm boosted its holdings in S&P Global by an impressive 31.0% during the first quarter. This substantial acquisition saw Empirical Wealth Management purchasing an additional 1,015 shares, bringing their total ownership to 4,285 shares of the company’s stock. As per their most recent SEC filing, these increased holdings in S&P Global were valued at a considerable $2,177,000, underscoring the firm’s deepening commitment to the stock.
Beyond Empirical Wealth Management, a multitude of other institutional investors have also been actively adjusting their positions in S&P Global. Brighton Jones LLC, for instance, expanded its stake by 4.7% in the fourth quarter, now holding 3,176 shares valued at $1,582,000. Similarly, Bank Pictet & Cie Europe AG notably lifted its stake by 3.3%, reaching 74,479 shares worth $37,093,000.
Further significant activity includes GHE LLC, which increased its S&P Global stake by 2.1%, now owning 13,504 shares valued at $6,725,000. Huntington National Bank also demonstrated increased confidence, boosting its stake by 7.0% to 29,896 shares, with a market value of $14,889,000. These diverse movements highlight a broad institutional interest in the company’s stock.
Additionally, new players have entered the S&P Global investment arena, with OneAscent Financial Services LLC initiating a new position in the fourth quarter, valued at approximately $247,000. Collectively, institutional investors and hedge funds now command a substantial 87.17% of S&P Global’s total stock, indicating a high level of professional confidence and significant capital allocation towards the firm.
In other relevant S&P Global news, an executive vice president recently conducted an insider sale, offloading 500 shares of the company’s stock on May 5th at an average price of $510.43, totaling $255,215.00. This transaction resulted in an 8.88% decrease in their direct ownership, though the EVP still retains 5,131 shares valued at over $2.6 million. Corporate insiders currently own a minor 0.10% of the stock.
From a broader financial perspective, S&P Global opened at $550.03 on a recent Friday, showcasing robust market performance. The company maintains solid liquidity ratios, with both a current and quick ratio of 0.90, alongside a healthy debt-to-equity ratio of 0.34. Its fifty-day moving average price stands at $519.96, with the two-hundred-day average at $508.64, indicating positive momentum within the market trends.
S&P Global’s financial health is further underscored by its recent quarterly earnings report on July 31st, where it surpassed analyst expectations by reporting $4.43 earnings per share (EPS) against a consensus of $4.18. The company also achieved $3.76 billion in revenue, exceeding analyst estimates of $3.65 billion, marking a 5.8% increase year-over-year. Analysts anticipate continued growth, projecting 17.11 EPS for the current year.
The business has also declared a quarterly dividend of $0.96, payable on September 10th to shareholders of record by August 26th. This translates to an annualized dividend of $3.84, offering a dividend yield of 0.7%, with a payout ratio of 30.16%. These consistent dividend payouts demonstrate the company’s commitment to returning value to its shareholders, reinforcing its stable financial outlook.
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