Balboa Wealth Partners Sells 225 Shares of S&P Global Inc. (NYSE:SPGI)

Balboa Wealth Partners reduced its stake in S&P Global Inc. (NYSE:SPGI) by 17.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,044 shares of the business services provider’s stock after selling 225 shares during the period. Balboa Wealth Partners’ holdings in S&P Global were worth $530,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Minot DeBlois Advisors LLC purchased a new position in shares of S&P Global during the fourth quarter valued at approximately $25,000. Anderson Financial Strategies LLC bought a new stake in S&P Global in the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new position in shares of S&P Global during the fourth quarter valued at $31,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of S&P Global by 131.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 67 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in shares of S&P Global during the fourth quarter valued at $40,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Up 2.1%

Shares of NYSE SPGI opened at $515.04 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $157.96 billion, a P/E ratio of 40.46, a price-to-earnings-growth ratio of 2.46 and a beta of 1.20. S&P Global Inc. has a 1-year low of $427.14 and a 1-year high of $545.39. The business has a fifty day moving average price of $502.03 and a 200 day moving average price of $503.24.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.14. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.72 billion. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.01 EPS. Equities research analysts expect that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Wednesday, May 28th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Wednesday, May 28th. S&P Global’s dividend payout ratio (DPR) is currently 30.16%.

Insider Buying and Selling

In other S&P Global news, EVP Sally Moore sold 500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the completion of the sale, the executive vice president now directly owns 5,131 shares in the company, valued at approximately $2,619,016.33. This trade represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Robert W. Baird lowered their target price on S&P Global from $616.00 to $589.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Argus upgraded S&P Global to a “strong-buy” rating in a research report on Friday, May 16th. UBS Group raised their price target on S&P Global from $555.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on S&P Global from $618.00 to $565.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company raised their price objective on S&P Global from $607.00 to $627.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $592.71.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.