S&P Global (SPGI) – Research Analysts’ Recent Ratings Updates

Posted by MarketBeat News on Oct 4th, 2024

A number of firms have modified their ratings and price targets on shares of S&P Global (NYSE: SPGI) recently:

10/3/2024 – S&P Global had its price target raised by analysts at Oppenheimer Holdings Inc. from $540.00 to $590.00. They now have an “outperform” rating on the stock.
10/2/2024 – S&P Global is now covered by analysts at Evercore ISI. They set an “outperform” rating and a $599.00 price target on the stock.
9/23/2024 – S&P Global was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
9/13/2024 – S&P Global had its price target raised by analysts at Barclays PLC from $550.00 to $610.00. They now have an “overweight” rating on the stock.
9/5/2024 – S&P Global had its price target raised by analysts at Morgan Stanley from $530.00 to $564.00. They now have an “overweight” rating on the stock.
8/13/2024 – S&P Global was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating.
8/12/2024 – S&P Global is now covered by analysts at Wells Fargo & Company. They set an “overweight” rating and a $575.00 price target on the stock.

S&P Global Price Performance

Shares of SPGI traded down $4.17 during trading hours on Friday, hitting $510.43. 167,885 shares of the company were exchanged, compared to its average volume of 1,207,478. The firm’s fifty day moving average is $504.41 and its 200 day moving average is $460.49. The company has a market cap of $159.71 billion, a price-to-earnings ratio of 57.22, a P/E/G ratio of 2.91 and a beta of 1.17. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global Inc. has a fifty-two week low of $340.49 and a fifty-two week high of $528.02.

S&P Global (NYSE:SPGI – Get Free Report) last announced its quarterly earnings data 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 return on equity of 13.03% and a net margin of 25.03%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter last year, the firm posted $3.12 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities analysts anticipate that S&P Global Inc. will post 14.57 earnings per share for the current fiscal year.

S&P Global Announces Dividend

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. 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, November 26th. S&P Global’s payout ratio is 40.81%.

Insider Buying and Selling at S&P Global

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the sale, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 that occurred 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 owns 15,830 shares of the company’s stock, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. 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.

Hedge Funds Weigh In On S&P Global

Large investors have recently made changes to their positions in the business. Eagle Asset Management Inc. acquired a new position in shares of S&P Global in the 4th quarter valued at $228,000. Oppenheimer & Co. Inc. boosted its holdings in S&P Global by 8.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 4,024 shares of the business services provider’s stock valued at $1,773,000 after purchasing an additional 317 shares during the last quarter. Cetera Advisor Networks LLC boosted its holdings in S&P Global by 5.6% in the fourth quarter. Cetera Advisor Networks LLC now owns 28,082 shares of the business services provider’s stock valued at $12,370,000 after purchasing an additional 1,481 shares during the last quarter. Pinebridge Investments L.P. grew its position in shares of S&P Global by 4,333.2% during the 4th quarter. Pinebridge Investments L.P. now owns 26,466 shares of the business services provider’s stock valued at $11,659,000 after acquiring an additional 25,869 shares during the period. Finally, Morningstar Investment Services LLC grew its position in shares of S&P Global by 126.3% during the 4th quarter. Morningstar Investment Services LLC now owns 2,211 shares of the business services provider’s stock valued at $977,000 after acquiring an additional 1,234 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

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.