Confluence Investment Management LLC Sells 3,204 Shares of S&P Global Inc. (NYSE:SPGI)

Confluence Investment Management LLC trimmed its holdings in S&P Global Inc. (NYSE:SPGI - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,835 shares of the business services provider's stock after selling 3,204 shares during the quarter. Confluence Investment Management LLC's holdings in S&P Global were worth $76,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SPGI. Parkside Financial Bank & Trust lifted its position in S&P Global by 2.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,034 shares of the business services provider's stock worth $515,000 after purchasing an additional 20 shares during the period. Personal CFO Solutions LLC boosted its holdings in S&P Global by 3.1% in the fourth quarter. Personal CFO Solutions LLC now owns 674 shares of the business services provider's stock valued at $336,000 after acquiring an additional 20 shares during the last quarter. Anfield Capital Management LLC boosted its holdings in S&P Global by 25.6% during the fourth quarter. Anfield Capital Management LLC now owns 108 shares of the business services provider's stock worth $54,000 after buying an additional 22 shares during the last quarter. Invenio Wealth Partners LLC boosted its holdings in S&P Global by 4.0% during the fourth quarter. Invenio Wealth Partners LLC now owns 574 shares of the business services provider's stock worth $286,000 after buying an additional 22 shares during the last quarter. Finally, Retirement Planning Group LLC lifted its holdings in shares of S&P Global by 0.4% during the 4th quarter. Retirement Planning Group LLC now owns 5,762 shares of the business services provider's stock valued at $2,870,000 after purchasing an additional 22 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

S&P Global Stock Performance

SPGI traded down $3.86 during trading hours on Monday, reaching $509.00. The company's stock had a trading volume of 325,429 shares, compared to its average volume of 1,217,989. S&P Global Inc. has a 52 week low of $424.82 and a 52 week high of $545.39. The company's 50-day moving average is $492.04 and its 200-day moving average is $503.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $156.11 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

S&P Global (NYSE:SPGI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.14. The firm had revenue of $3.78 billion for the quarter, compared to analysts' expectations of $3.72 billion. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $4.01 EPS. On average, equities analysts forecast that S&P Global Inc. will post 17.11 EPS for the current year.

S&P Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.75%. The ex-dividend date is Wednesday, May 28th. S&P Global's payout ratio is 30.16%.

Insiders Place Their Bets

In related news, EVP Sally Moore sold 500 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Robert W. Baird cut their target price on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus dropped their price objective on S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen cut S&P Global from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Bank of America initiated coverage on S&P Global in a research note on Thursday, April 10th. They set a "buy" rating and a $600.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on S&P Global from $607.00 to $627.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Two investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.