S&P Global (NYSE:SPGI) Stock Rating Lowered by Raymond James

S&P Global (NYSE:SPGI) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports.

Several other analysts also recently commented on SPGI. JPMorgan Chase & Co. increased their target price on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets increased their price objective on shares of S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their target price on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Barclays upped their target price 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, Bank of America lifted their price target on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $548.18.

S&P Global Stock Performance

Shares of SPGI opened at $518.11 on Monday. The firm has a market capitalization of $162.12 billion, a P/E ratio of 58.08, a P/E/G ratio of 2.68 and a beta of 1.17. S&P Global has a 52 week low of $340.49 and a 52 week high of $528.02. The stock has a 50 day moving average price of $500.51 and a two-hundred day moving average price of $456.64. 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 (NYSE:SPGI) last announced its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.37. The company had revenue of $3.55 billion for 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%. S&P Global’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.12 earnings per share. Equities analysts forecast that S&P Global will post 14.58 earnings per share for the current fiscal year.

Insider Transactions at S&P Global

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the company’s 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 sale, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edouard Tavernier sold 500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, 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. In the last 90 days, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. increased its holdings in S&P Global by 7.8% during the 4th quarter. Gilbert & Cook Inc. now owns 1,152 shares of the business services provider’s stock worth $507,000 after acquiring an additional 83 shares during the period. Aveo Capital Partners LLC bought a new stake in S&P Global during the fourth quarter valued at $215,000. 9258 Wealth Management LLC boosted its stake in S&P Global by 30.4% during the fourth quarter. 9258 Wealth Management LLC now owns 1,758 shares of the business services provider’s stock valued at $774,000 after buying an additional 410 shares during the period. Gryphon Financial Partners LLC grew its position in S&P Global by 75.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,354 shares of the business services provider’s stock worth $1,018,000 after buying an additional 1,014 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new position in S&P Global in the 4th quarter worth about $379,000. Hedge funds and other institutional investors 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.