Wells Fargo & Company Boosts S&P Global (NYSE:SPGI) Price Target to $620.00

S&P Global (NYSE:SPGI) had its price target upped by equities researchers at Wells Fargo & Company from $575.00 to $620.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 18.37% from the company’s previous close.

SPGI has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective 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. Stifel Nicolaus raised their price objective on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their price target on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Evercore ISI started coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on shares of S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $560.83.

S&P Global Stock Up 1.0 %

Shares of NYSE SPGI traded up $5.44 during mid-day trading on Wednesday, reaching $523.79. The company had a trading volume of 251,322 shares, compared to its average volume of 1,202,175. The stock has a fifty day moving average of $505.80 and a two-hundred day moving average of $462.87. S&P Global has a 12-month low of $340.49 and a 12-month high of $528.02. The company has a market capitalization of $163.89 billion, a price-to-earnings ratio of 58.72, a PEG ratio of 2.91 and a beta of 1.18. 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 issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.37. The firm had revenue of $3.55 billion for 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 company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.12 earnings per share. As a group, equities research analysts expect that S&P Global will post 14.57 EPS for the current year.

Insider Buying and Selling

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction 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 sale, the director now owns 15,830 shares in the company, valued at $7,618,662.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the sale, the chief executive officer now owns 154,912 shares in the company, valued at $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction 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 owns 15,830 shares in the company, valued at $7,618,662.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On S&P Global

Several institutional investors and hedge funds have recently made changes to their positions in SPGI. Pineridge Advisors LLC acquired a new stake in shares of S&P Global in the 4th quarter valued at $26,000. HWG Holdings LP acquired a new stake in shares of S&P Global in the 2nd quarter valued at $27,000. Sachetta LLC boosted its stake in shares of S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of S&P Global in the 2nd quarter valued at $31,000. Finally, First Pacific Financial boosted its stake in shares of S&P Global by 49.0% in the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds 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.