Wells Fargo & Company Forecasts Strong Price Appreciation for S&P Global (NYSE:SPGI) Stock

S&P Global (NYSE:SPGI) had its target price boosted by Wells Fargo & Company from $617.00 to $633.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, October 28th. BMO Capital Markets lifted their target price on S&P Global from $564.00 to $576.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Oppenheimer decreased their price target on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. UBS Group increased their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $586.85.

S&P Global Stock Down 1.8 %

Shares of S&P Global stock opened at $530.93 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. S&P Global has a 52-week low of $407.69 and a 52-week high of $542.00. The stock has a market capitalization of $164.75 billion, a price-to-earnings ratio of 46.86, a P/E/G ratio of 2.39 and a beta of 1.20. The company’s 50 day moving average price is $506.13 and its 200-day moving average price is $506.36.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Tuesday, February 11th. The business services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. During the same quarter last year, the firm posted $3.13 earnings per share. Equities research analysts forecast that S&P Global will post 15.34 EPS for the current year.

S&P Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.96 per share. The ex-dividend date is Wednesday, February 26th. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.72%. S&P Global’s dividend payout ratio (DPR) is 32.13%.

Hedge Funds Weigh In On S&P Global

Several institutional investors have recently added to or reduced their stakes in the stock. Trust Point Inc. grew its stake in shares of S&P Global by 1.4% in the 3rd quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after purchasing an additional 20 shares during the last quarter. Headinvest LLC grew its position in S&P Global by 2.0% during the third quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock worth $515,000 after buying an additional 20 shares during the period. EWA LLC grew its holdings in S&P Global by 4.2% in the third quarter. EWA LLC now owns 498 shares of the business services provider’s stock valued at $254,000 after purchasing an additional 20 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of S&P Global by 1.3% in the third quarter. Continuum Advisory LLC now owns 1,544 shares of the business services provider’s stock valued at $788,000 after purchasing an additional 20 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of 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 acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.