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

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

SPGI has been the topic of several other reports. BMO Capital Markets raised their price target on shares of S&P Global from $532.00 to $537.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of S&P Global from $530.00 to $564.00 and gave the stock an overweight rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their price target on S&P Global from $550.00 to $565.00 and gave the stock an overweight rating in a research note on Wednesday, July 31st. Bank of America lifted their price objective on S&P Global from $530.00 to $540.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Finally, UBS Group upped their target price on S&P Global from $505.00 to $555.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued 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 $548.18.

S&P Global Trading Up 1.5 %

Shares of SPGI opened at $527.40 on Friday. S&P Global has a 1-year low of $340.49 and a 1-year high of $528.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $494.92 and a 200-day simple moving average of $452.62. The stock has a market cap of $165.02 billion, a price-to-earnings ratio of 59.13, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.12 earnings per share. Equities analysts forecast that S&P Global will post 14.58 EPS for the current fiscal year.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, August 27th. S&P Global’s payout ratio is currently 40.81%.

Insider Buying and Selling

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction that occurred on 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 $7,618,662.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated 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 owns 15,830 shares in the company, valued at approximately $7,618,662.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On S&P Global

Hedge funds have recently modified their holdings of the stock. Sapient Capital LLC raised its stake in shares of S&P Global by 2.5% during the second quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 21 shares during the period. Chatham Capital Group Inc. increased its stake in S&P Global by 0.5% during the 2nd quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock worth $2,007,000 after buying an additional 21 shares during the period. Kampmann Melissa S. lifted its holdings in S&P Global by 0.3% in the 2nd quarter. Kampmann Melissa S. now owns 8,284 shares of the business services provider’s stock worth $3,695,000 after buying an additional 21 shares in the last quarter. D.B. Root & Company LLC boosted its position in S&P Global by 2.4% in the 2nd quarter. D.B. Root & Company LLC now owns 955 shares of the business services provider’s stock valued at $426,000 after buying an additional 22 shares during the last quarter. Finally, Modera Wealth Management LLC grew its stake in shares of S&P Global by 2.3% during the second quarter. Modera Wealth Management LLC now owns 960 shares of the business services provider’s stock valued at $428,000 after acquiring an additional 22 shares in the last quarter. 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.