S&P Global (NYSE:SPGI) Price Target Raised to $575.00

S&P Global (NYSE:SPGI) had its price objective upped by Robert W. Baird from $536.00 to $575.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other research analysts have also recently commented on SPGI. Oppenheimer increased their target price on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Bank of America boosted their price objective on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lifted their price target on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $569.77.

S&P Global Stock Performance

SPGI opened at $490.61 on Friday. S&P Global has a 1 year low of $340.49 and a 1 year high of $533.29. The stock has a market cap of $153.56 billion, a PE ratio of 46.50, a P/E/G ratio of 2.76 and a beta of 1.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock’s 50 day simple moving average is $513.82 and its 200-day simple moving average is $471.14.

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, topping analysts’ consensus estimates of $3.64 by $0.25. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.21 earnings per share. Sell-side analysts forecast that S&P Global will post 14.79 EPS for the current year.

S&P Global Announces Dividend

The business 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 dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.74%. S&P Global’s dividend payout ratio (DPR) is presently 34.50%.

Insider Buying and Selling at S&P Global

In related news, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the sale, the chief executive officer now directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the sale, the chief executive officer now owns 154,912 shares in the company, valued at approximately $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,862 shares of company stock valued at $8,645,727. Company insiders own 0.10% of the company’s stock.

Institutional Trading of S&P Global

Several institutional investors and hedge funds have recently bought and sold shares of SPGI. HWG Holdings LP purchased a new stake in shares of S&P Global in the second quarter worth $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of S&P Global in the 3rd quarter valued at about $27,000. Sachetta LLC grew its holdings in shares of S&P Global by 103.4% during the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after purchasing an additional 30 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of S&P Global in the second quarter worth approximately $31,000. Finally, Voisard Asset Management Group Inc. increased its position in shares of S&P Global by 77.1% in the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after purchasing an additional 27 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.