S&P Global (SPGI) fell after reporting lower-than-expected earnings

Investment advisor Aristotle Atlantic Partners, LLC, has published its Focus Growth Strategy investor letter for the first quarter of 2024. You can download a copy of the letter here. The market continued to rally in the first quarter, with the S&P 500 index rising 10.56% over the period. Aristotle Atlantic’s Focus Growth strategy returned 10.42% gross (10.40% net of fees) in the first quarter, which was worse than the Russell 1000 Growth Index’s total return of 11.41%. The relative underperformance was due to both allocation and security selection effects. Plus, you can check out the fund’s top 5 positions to see the top picks for 2024.

In its Q1 2024 investor letter, Aristotle Atlantic Focus Growth Strategy highlighted stocks like S&P Global Inc. (NYSE:SPGI). S&P Global Inc. (NYSE:SPGI), with a market capitalization of $136.512 billion, offers credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. S&P Global Inc. Monthly Return (NYSE:SPGI) was 5.00% and its shares gained 21.76% of their value over the last 52 weeks. On May 23, 2024, the stock price of S&P Global Inc. (NYSE:SPGI) was $436.28 per share.

In its Q1 2024 investor letter, Aristotle Atlantic Focus Growth Strategy stated the following regarding S&P Global Inc. (NYSE:SPGI):

“S&P Global Inc. (NYSE:SPGI weakened portfolio performance this quarter as the company’s shares lost ground following a lower-than-expected earnings report and newly released financial guidance for fiscal year 2024 that was slightly below expectations. The company’s lower-than-expected bond issuance forecast Guidance focused primarily on business this year, although management acknowledged that guidance is likely conservative, which could result in actual activity exceeding expectations later in the year.”

Group of analysts examining data on a large monitor.

S&P Global Inc. Revenues (NYSE:SPGI) for the trailing 12 months was 12.83 Billion, with a quarterly year-over-year revenue growth rate of 10.50%. S&P Global Inc. (NYSE:SPGI) is not on our list of the 30 most popular stocks among hedge funds. According to our database, S&P Global Inc. held 97 hedge fund portfolios at the end of the first quarter. (NYSE:SPGI), compared to 82 in the previous quarter.

In another article, we discussed S&P Global Inc. (NYSE:SPGI) and we have provided a list of the largest financial companies listed on the US stock exchange. Additionally, check out our Q1 2024 Hedge Fund Investor Lists page to see more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article was originally published at Insider Monkey.