S&P Global (NYSE:SPGI) PT Lowered to $585.00

S&P Global (NYSE:SPGI) had its target price lowered by JPMorgan Chase & Co. from $600.00 to $585.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Several other analysts have also recently weighed in on SPGI. Robert W. Baird lifted their price objective on shares of S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America lifted their price target on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Royal Bank of Canada increased their price target 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. BMO Capital Markets raised their price objective on S&P Global from $537.00 to $589.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Finally, Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $569.77.

S&P Global Price Performance

S&P Global stock opened at $490.61 on Friday. The company has a market capitalization of $153.56 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.76 and a beta of 1.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global has a 12 month low of $340.49 and a 12 month high of $533.29. The stock’s 50 day moving average is $513.82 and its 200-day moving average is $471.14.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating 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 period in the prior year, the firm posted $3.21 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts expect that S&P Global will post 14.79 EPS for the current year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 34.50%.

Insider Buying and Selling

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the firm’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 $245,775.00. Following the sale, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert P. Kelly sold 7,662 shares of S&P Global 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 sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock worth $8,645,727 in the last three months. 0.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On S&P Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPGI. First National Corp MA ADV lifted its holdings in S&P Global by 0.9% during the 3rd quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock worth $1,211,000 after buying an additional 20 shares during the period. Kathleen S. Wright Associates Inc. lifted its stake in shares of S&P Global by 25.0% in the third quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock worth $51,000 after acquiring an additional 20 shares during the period. Trust Point Inc. boosted its holdings in S&P Global by 1.4% in the third quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after acquiring an additional 20 shares during the last quarter. Sapient Capital LLC increased its position in S&P Global by 2.5% during the 2nd quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 21 shares during the period. Finally, Chatham Capital Group Inc. increased its position in S&P Global by 0.5% during the 2nd quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock valued at $2,007,000 after purchasing an additional 21 shares during the period. 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.