BMO Capital Markets Lowers S&P Global (NYSE:SPGI) Price Target to $564.00

S&P Global (NYSE:SPGI) had its price objective dropped by equities researchers at BMO Capital Markets from $589.00 to $564.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price points to a potential upside of 14.96% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird upped their target price on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a report on Friday. Oppenheimer upped their target price on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Royal Bank of Canada upped their target price on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. 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, Stifel Nicolaus upped their target price on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and a consensus target price of $569.77.

S&P Global Price Performance

Shares of SPGI opened at $490.61 on Friday. S&P Global has a 1-year low of $340.49 and a 1-year high of $533.29. The stock has a market cap of $153.56 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day moving average price of $513.82 and a 200 day moving average price of $470.81.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the company earned $3.21 earnings per share. S&P Global’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that S&P Global will post 14.79 EPS for the current year.

Insiders Place Their Bets

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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 154,912 shares in the company, valued at $74,915,443.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by company insiders.

Institutional Trading of S&P Global

Several large investors have recently modified their holdings of the business. Voisard Asset Management Group Inc. grew its position in shares of S&P Global by 77.1% in the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 27 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of S&P Global in the third quarter valued at approximately $155,000. Pinnacle Associates Ltd. grew its position in shares of S&P Global by 7.9% in the third quarter. Pinnacle Associates Ltd. now owns 2,517 shares of the business services provider’s stock valued at $1,300,000 after purchasing an additional 184 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of S&P Global by 9.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,335 shares of the business services provider’s stock valued at $5,339,000 after purchasing an additional 929 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. acquired a new stake in shares of S&P Global in the third quarter valued at approximately $17,927,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.