S&P Global (NYSE:SPGI) Price Target Raised to $589.00

S&P Global (NYSE:SPGI) had its target price boosted by BMO Capital Markets from $537.00 to $589.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

SPGI has been the subject of several other reports. Wells Fargo & Company upped their target price on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Bank of America increased their target price on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Barclays upped their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. lifted their price objective on S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $565.17.

S&P Global Trading Up 1.1 %

Shares of NYSE:SPGI opened at $524.80 on Tuesday. S&P Global has a 52-week low of $340.49 and a 52-week high of $533.29. 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 market cap of $164.21 billion, a P/E ratio of 58.83, a P/E/G ratio of 2.91 and a beta of 1.18. The stock’s 50-day moving average is $512.21 and its 200-day moving average is $467.89.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter last year, the firm posted $3.12 EPS. The company’s revenue was up 14.4% on a year-over-year basis. Equities research analysts predict that S&P Global will post 14.61 earnings per share for the current year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is 40.81%.

Insider Activity at S&P Global

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the sale, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Steven J. Kemps sold 2,700 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 $1,327,185.00. Following the transaction, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at $715,205.25. 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 firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, the insider now directly owns 13,217 shares of the company’s stock, valued at $6,496,816.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock valued at $8,645,727 in the last ninety days. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cedrus LLC acquired a new position in shares of S&P Global during the third quarter worth approximately $218,000. New Century Financial Group LLC lifted its holdings in S&P Global by 21.8% during the 3rd quarter. New Century Financial Group LLC now owns 960 shares of the business services provider’s stock worth $495,000 after buying an additional 172 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in S&P Global by 5.0% in the 3rd quarter. Resonant Capital Advisors LLC now owns 5,546 shares of the business services provider’s stock valued at $2,865,000 after buying an additional 263 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of S&P Global in the 3rd quarter valued at $239,000. Finally, Veracity Capital LLC raised its position in shares of S&P Global by 5.0% during the third quarter. Veracity Capital LLC now owns 691 shares of the business services provider’s stock worth $357,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Company Profile

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.