S&P Global (NYSE:SPGI) Price Target Increased to $620.00 by Analysts at Wells Fargo & Company

S&P Global (NYSE:SPGI) had its price target lifted by Wells Fargo & Company from $575.00 to $620.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other equities analysts have also recently weighed in on SPGI. BMO Capital Markets boosted their price objective on S&P Global from $532.00 to $537.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Barclays boosted their price target on S&P Global from $550.00 to $610.00 and gave the company an overweight rating in a research note on Friday, September 13th. Stifel Nicolaus boosted their price target on S&P Global from $535.00 to $540.00 and gave the company a buy rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on S&P Global from $550.00 to $565.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Finally, Bank of America boosted their price target on S&P Global from $530.00 to $540.00 and gave the company a buy rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $560.83.

S&P Global Price Performance

NYSE SPGI opened at $522.01 on Wednesday. S&P Global has a twelve month low of $340.49 and a twelve month high of $528.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $163.34 billion, a PE ratio of 58.52, a P/E/G ratio of 2.91 and a beta of 1.18. The stock has a 50-day simple moving average of $507.74 and a 200 day simple moving average of $464.67.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. Research analysts anticipate that S&P Global will post 14.61 EPS for the current year.

S&P Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.70%. S&P Global’s dividend payout ratio is currently 40.81%.

Insider Activity

In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,862 shares of company stock worth $8,645,727. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital International Investors lifted its holdings in S&P Global by 5.3% during the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock worth $2,464,951,000 after buying an additional 291,712 shares in the last quarter. Legal & General Group Plc lifted its holdings in S&P Global by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock worth $1,260,665,000 after buying an additional 29,227 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after buying an additional 298,645 shares in the last quarter. Sustainable Growth Advisers LP lifted its holdings in S&P Global by 2.1% during the 1st quarter. Sustainable Growth Advisers LP now owns 2,199,754 shares of the business services provider’s stock worth $935,885,000 after buying an additional 46,131 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in S&P Global by 1.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock worth $651,682,000 after buying an additional 20,624 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.