Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The market continued its rally in the first quarter and the S&P 500 Index rose 10.56% during the period. Aristotle Atlantic’s Focus Growth strategy returned 10.42% gross of fees (10.40% net of fees), in the first quarter underperforming the Russell 1000 Growth Index’s 11.41% total return. The relative underperformance was due to both allocation effects and security selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Aristotle Atlantic Focus Growth Strategy highlighted stocks like S&P Global Inc. (NYSE:SPGI), in the first quarter 2024 investor letter. 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. One-month return of S&P Global Inc. (NYSE:SPGI) was 5.00%, and its shares gained 21.76% of their value over the last 52 weeks. On May 23, 2024, S&P Global Inc. (NYSE:SPGI) stock closed at $436.28 per share.
Aristotle Atlantic Focus Growth Strategy stated the following regarding S&P Global Inc. (NYSE:SPGI) in its first quarter 2024 investor letter:
“S&P Global Inc. (NYSE:SPGI detracted from portfolio performance in the quarter, as shares were weak following a lower-than-expected earnings report and newly issued fiscal year 2024 financial guidance that was slightly below expectations. The company’s lower-than-expected forecast of bond issuance activity for the year was the primary focus of the guidance, although management acknowledged that the guidance is likely conservative, which could result in actual activity exceeding expectations later in the year.”
A group of analysts studying data on a large monitor.
S&P Global Inc.’s (NYSE:SPGI) trailing 12month revenue is 12.83 billion and its year over year quarterly revenue growth rate is 10.50%. S&P Global Inc. (NYSE:SPGI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 97 hedge fund portfolios held S&P Global Inc. (NYSE:SPGI) at the end of the first quarter which was 82 in the previous quarter.
In another article, we discussed S&P Global Inc. (NYSE:SPGI) and shared the list of largest publicly traded financial companies in the US. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.
