S&P Global (NYSE:SPGI) Given New $585.00 Price Target at JPMorgan Chase & Co.

S&P Global (NYSE:SPGI) had its price objective cut by JPMorgan Chase & Co. from $600.00 to $585.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of S&P Global from $537.00 to $589.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Royal Bank of Canada upped their price target 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. Oppenheimer increased their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Barclays increased their target price 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. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $569.77.

S&P Global Stock Performance

SPGI stock traded down $2.60 during midday trading on Friday, reaching $490.61. 984,517 shares of the company’s stock traded hands, compared to its average volume of 1,198,610. The company has a 50-day moving average price of $513.82 and a two-hundred day moving average price of $470.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. S&P Global has a 52 week low of $340.49 and a 52 week high of $533.29. The firm has a market capitalization of $153.56 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.21 EPS. As a group, equities analysts anticipate that S&P Global will post 14.79 EPS for the current year.

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.74%. S&P Global’s payout ratio is 34.50%.

Insider Transactions at S&P Global

In other news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the sale, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This represents 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 worth $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 the stock. Voisard Asset Management Group Inc. lifted its holdings in 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 buying an additional 27 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in S&P Global in the third quarter worth about $155,000. Pinnacle Associates Ltd. lifted its holdings in S&P Global by 7.9% in the third quarter. Pinnacle Associates Ltd. now owns 2,517 shares of the business services provider’s stock worth $1,300,000 after buying an additional 184 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in S&P Global by 9.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,335 shares of the business services provider’s stock worth $5,339,000 after buying an additional 929 shares during the period. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in S&P Global in the third quarter worth about $17,927,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.