5 Stocks to Sell According to Billionaire Dan Loeb

1. S&P Global Inc. (NYSE:SPGI)

Third Point’s Stake Value in Q1 2022: $393,773,000

Percentage of Third Point’s 13F Portfolio in Q1 2022: 5.12%

Number of Hedge Fund Holders: 84

S&P Global Inc. (NYSE:SPGI) is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide.

As of Q1 2022, Dan Loeb’s Third Point owned 960,000 shares of S&P Global Inc. (NYSE:SPGI), accounting for 5.12% of its 13F portfolio. The hedge fund shed 4% of its stake in Q1 2022, as compared to the previous quarter and exited its remaining position in the stock during Q2 2022.

In August, S&P Global Inc. (NYSE:SPGI) released its financial results for the second quarter of 2022. Its total revenues increased by 42% y-o-y to $3.0 billion, while its net income increased by 20% y-o-y to $1.0 billion. It reported a normalized EPS of $2.81 for the quarter, missing the consensus by $0.12.

On September 28, the board of directors of S&P Global Inc. (NYSE:SPGI) declared a regular quarterly cash dividend of $0.85 per common share. The company has paid regular dividends since 1937 and has increased its dividends annually for at least the last 49 years.

As of Q2 2022, S&P Global Inc. (NYSE:SPGI) shares were held by 84 of the 895 hedge funds tracked by Insider Monkey, with a total value of $7.2 billion. Chris Hohn’s TCI Fund Management was its largest hedge fund shareholder with ownership of 8.8 million shares valued at $3.0 billion.

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