Balboa Wealth Partners Acquires 24 Shares of S&P Global Inc. (NYSE:SPGI)

Balboa Wealth Partners raised its holdings in S&P Global Inc. (NYSE:SPGI) by 1.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,456 shares of the business services provider’s stock after buying an additional 24 shares during the quarter. Balboa Wealth Partners’ holdings in S&P Global were worth $752,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SPGI. Swedbank AB purchased a new stake in S&P Global in the first quarter worth $351,774,000. International Assets Investment Management LLC grew its position in shares of S&P Global by 174,815.4% in the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock worth $241,274,000 after buying an additional 466,757 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of S&P Global by 352.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after acquiring an additional 360,909 shares in the last quarter. Third Point LLC purchased a new position in S&P Global during the 1st quarter valued at about $142,526,000. Finally, Ameriprise Financial Inc. grew its holdings in S&P Global by 13.5% in the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after purchasing an additional 298,645 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPGI has been the subject of several recent research reports. BMO Capital Markets lowered their target price on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Stifel Nicolaus increased their target price on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company lifted their price target on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Evercore ISI initiated coverage on shares of S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and an average price target of $571.31.

S&P Global Price Performance

Shares of SPGI opened at $510.64 on Friday. The firm has a fifty day simple moving average of $510.74 and a two-hundred day simple moving average of $477.90. The firm has a market cap of $158.45 billion, a PE ratio of 45.07, a P/E/G ratio of 2.61 and a beta of 1.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a 1-year low of $401.58 and a 1-year high of $533.29.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. S&P Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.21 earnings per share. On average, equities analysts anticipate that S&P Global Inc. will post 15.25 EPS for the current year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is 32.13%.

S&P Global Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.