S&P Global (NYSE:SPGI) Price Target Raised to $575.00

S&P Global (NYSE:SPGI) had its target price boosted by Robert W. Baird from $536.00 to $575.00 in a research note issued to investors on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

SPGI has been the topic of a number of other reports. Stifel Nicolaus boosted their price target on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barclays upped their price target on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. 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. 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 report on Tuesday, July 9th. Finally, Evercore ISI initiated coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and an average target price of $569.77.

S&P Global Trading Down 0.5 %

SPGI opened at $490.61 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global has a 52 week low of $340.49 and a 52 week high of $533.29. The business’s 50 day moving average is $513.83 and its two-hundred day moving average is $470.17. The firm has a market cap of $153.56 billion, a price-to-earnings 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 released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the company posted $3.21 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. On average, research analysts predict that S&P Global will post 14.79 EPS for the current year.

S&P Global Dividend Announcement

The company 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. This represents a $3.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 34.50%.

Insider Activity at S&P Global

In other news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated 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 sale, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were 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 directly owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,862 shares of company stock worth $8,645,727. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Capital International Investors increased its holdings in shares of S&P Global by 5.3% in the 1st quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock worth $2,464,951,000 after acquiring an additional 291,712 shares during the period. Legal & General Group Plc grew its holdings in S&P Global by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock worth $1,260,665,000 after buying an additional 29,227 shares in the last quarter. Ameriprise Financial Inc. increased its position in S&P Global by 13.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock valued at $1,115,697,000 after acquiring an additional 298,645 shares during the period. Sustainable Growth Advisers LP raised its stake in S&P Global by 2.1% during the 1st quarter. Sustainable Growth Advisers LP now owns 2,199,754 shares of the business services provider’s stock valued at $935,885,000 after acquiring an additional 46,131 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of S&P Global by 1.4% in the second quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock worth $651,682,000 after purchasing an additional 20,624 shares in the last quarter. 87.17% of the stock is currently owned by 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.