S&P Global (NYSE:SPGI) Price Target Increased to $590.00 by Analysts at Oppenheimer

S&P Global (NYSE:SPGI) had its target price boosted by investment analysts at Oppenheimer from $540.00 to $590.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective suggests a potential upside of 14.63% from the stock’s current price.

Several other research firms have also weighed in on SPGI. Barclays lifted their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Wells Fargo & Company raised shares of S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. Morgan Stanley boosted their price objective on shares of S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, UBS Group boosted their target price on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $556.58.

S&P Global Price Performance

Shares of S&P Global stock opened at $514.71 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. S&P Global has a one year low of $340.49 and a one year high of $528.02. The business’s 50 day simple moving average is $503.79 and its two-hundred day simple moving average is $460.11. The stock has a market capitalization of $161.05 billion, a P/E ratio of 57.70, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17.

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

Insider Buying and Selling at S&P Global

In other news, insider Edouard Tavernier sold 500 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 value of $245,775.00. Following the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock valued at $8,645,727 in the last 90 days. Insiders own 0.10% of the company’s stock.

Institutional Trading of S&P Global

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