Balboa Wealth Partners Has $752,000 Stake in S&P Global Inc. (NYSE:SPGI)

Balboa Wealth Partners raised its stake in S&P Global Inc. (NYSE:SPGI) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,456 shares of the business services provider’s stock after purchasing 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 reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in S&P Global by 107.2% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after buying an additional 2,962 shares during the last quarter. Quadrature Capital Ltd bought a new position in S&P Global during the first quarter worth $2,236,000. O Shaughnessy Asset Management LLC lifted its stake in shares of S&P Global by 21.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,683 shares of the business services provider’s stock valued at $14,756,000 after purchasing an additional 6,162 shares during the period. Nwam LLC lifted its stake in S&P Global by 45.5% in the first quarter. Nwam LLC now owns 1,043 shares of the business services provider’s stock valued at $446,000 after buying an additional 326 shares during the period. Finally, Banco Santander S.A. lifted its position in shares of S&P Global by 38.9% during the 1st quarter. Banco Santander S.A. now owns 14,696 shares of the business services provider’s stock valued at $6,252,000 after acquiring an additional 4,114 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPGI has been the topic of a number of research reports. Evercore ISI assumed coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price on the stock. Morgan Stanley lifted their price target on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their target price on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays lifted their price objective on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Stock Up 0.1 %

Shares of SPGI opened at $510.64 on Friday. S&P Global Inc. has a 1 year low of $401.58 and a 1 year high of $533.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50 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 P/E ratio of 45.07, a P/E/G ratio of 2.61 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the previous year, the firm posted $3.21 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts forecast that S&P Global Inc. will post 15.25 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

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

About S&P Global

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.