S&P Global (NYSE:SPGI) Price Target Raised to $610.00

S&P Global (NYSE:SPGI) had its target price upped by UBS Group from $605.00 to $610.00 in a report issued on Friday morning, Benzinga reports. UBS Group currently has a buy rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley raised their target price on shares of S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Robert W. Baird raised their price target on shares of S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research note on Friday. Royal Bank of Canada raised their target price on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Oppenheimer boosted their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, S&P Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.31.

S&P Global Price Performance

SPGI stock opened at $487.24 on Friday. The firm has a market cap of $152.46 billion, a P/E ratio of 54.62, a P/E/G ratio of 2.76 and a beta of 1.18. The firm’s fifty day moving average is $513.65 and its 200 day moving average is $471.60. S&P Global has a 52 week low of $340.49 and a 52 week high of $533.29. 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 announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share (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 analysts’ expectations of $3.43 billion. During the same period last year, the firm earned $3.21 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts predict that S&P Global will post 14.79 earnings per share for the current year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 40.81%.

Insiders Place Their Bets

In related news, insider Edouard Tavernier sold 500 shares of the firm’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 $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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other S&P Global news, EVP Steven J. Kemps sold 2,700 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 transaction of $1,327,185.00. Following the completion of the sale, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edouard Tavernier sold 500 shares of the company’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 $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. 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 worth $8,645,727. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On S&P Global

A number of hedge funds have recently added to or reduced their stakes in SPGI. HWG Holdings LP bought a new stake in shares of S&P Global in the 2nd quarter worth $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of S&P Global during the third quarter valued at $27,000. Sachetta LLC increased its holdings in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after buying an additional 30 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in S&P Global in the 2nd quarter worth about $31,000. Finally, Voisard Asset Management Group Inc. lifted its stake in S&P Global by 77.1% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 27 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.