S&P Global (NYSE:SPGI) Price Target Raised to $610.00 at Barclays

S&P Global (NYSE:SPGI) had its target price raised by Barclays from $550.00 to $610.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets boosted their price objective on S&P Global from $532.00 to $537.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. UBS Group increased their price target on shares of S&P Global from $505.00 to $555.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of S&P Global from $550.00 to $565.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Bank of America upped their target price on shares of S&P Global from $530.00 to $540.00 and gave the company a buy rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company raised S&P Global to a strong-buy rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $540.25.

S&P Global Stock Performance

NYSE:SPGI opened at $519.45 on Friday. S&P Global has a fifty-two week low of $340.49 and a fifty-two week high of $524.14. 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 company has a 50 day moving average price of $493.49 and a 200 day moving average price of $451.60. The stock has a market capitalization of $162.59 billion, a P/E ratio of 58.23, a PEG ratio of 2.68 and a beta of 1.17.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 earnings per share. Equities research analysts forecast that S&P Global will post 14.58 EPS for the current year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th were issued a $0.91 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a yield of 0.70%. S&P Global’s dividend payout ratio (DPR) is 40.81%.

Insider Activity at S&P Global

In other news, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction on 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 completion of the sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the completion of the transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,862 shares of company stock valued at $8,645,727. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On S&P Global

Several institutional investors have recently bought and sold shares of SPGI. Private Wealth Management Group LLC acquired a new stake in S&P Global in the fourth quarter valued at approximately $26,000. Sachetta LLC grew its holdings in S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in S&P Global during the 4th quarter worth $26,000. HWG Holdings LP acquired a new position in S&P Global in the 2nd quarter worth $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in S&P Global in the 2nd quarter valued at about $31,000. 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.