S&P Global (NYSE:SPGI) Price Target Raised to $564.00

S&P Global (NYSE:SPGI) had its price target boosted by Morgan Stanley from $530.00 to $564.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other research analysts have also commented on the company. BMO Capital Markets lifted their price target on S&P Global from $532.00 to $537.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. Bank of America boosted their target price on S&P Global from $530.00 to $540.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Royal Bank of Canada upped their price objective on S&P Global from $500.00 to $552.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. 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 research report on Wednesday, July 31st. Finally, Oppenheimer upped their price target on shares of S&P Global from $486.00 to $540.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $535.25.

S&P Global Trading Down 1.2 %

S&P Global stock opened at $510.64 on Thursday. S&P Global has a 52 week low of $340.49 and a 52 week high of $521.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $159.78 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 2.67 and a beta of 1.17. The stock has a 50-day moving average price of $486.64 and a 200 day moving average price of $448.74.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.67 by $0.37. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.12 EPS. Sell-side analysts anticipate that S&P Global will post 14.57 EPS for the current year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s payout ratio is 40.81%.

Insider Activity

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the business’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 in the company, valued at approximately $715,205.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at $715,205.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,862 shares of company stock valued at $8,645,727. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On S&P Global

Institutional investors have recently bought and sold shares of the stock. Janney Capital Management LLC boosted its holdings in shares of S&P Global by 2.7% in the 4th quarter. Janney Capital Management LLC now owns 17,429 shares of the business services provider’s stock worth $7,678,000 after acquiring an additional 461 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of S&P Global by 15.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,403,726 shares of the business services provider’s stock valued at $618,369,000 after buying an additional 190,758 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of S&P Global by 107.2% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock worth $2,798,000 after acquiring an additional 2,962 shares in the last quarter. Stifel Financial Corp raised its stake in shares of S&P Global by 1.1% in the 4th quarter. Stifel Financial Corp now owns 475,930 shares of the business services provider’s stock valued at $209,670,000 after purchasing an additional 5,087 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC acquired a new stake in shares of S&P Global in the first quarter valued at approximately $1,222,000. 87.17% of the stock is currently owned by 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.