S&P Global (NYSE:SPGI) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of S&P Global (NYSE:SPGI) in a report released on Monday, Marketbeat reports. The brokerage issued an overweight rating and a $575.00 price target on the business services provider’s stock.

Several other analysts have also recently commented on the stock. Barclays raised their target price on shares of S&P Global from $520.00 to $550.00 and gave the stock an overweight rating in a research note on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of S&P Global from $500.00 to $510.00 and gave the company an overweight rating in a research note on Friday, July 5th. Bank of America raised their price objective on shares of S&P Global from $530.00 to $540.00 and gave the company a buy rating in a research note on Tuesday, July 16th. Oppenheimer raised their price objective on shares of S&P Global from $486.00 to $540.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets raised their price objective on shares of S&P Global from $532.00 to $537.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $530.75.

S&P Global Stock Up 0.1 %

SPGI stock opened at $492.93 on Monday. S&P Global has a one year low of $340.49 and a one year high of $502.95. The stock has a market capitalization of $154.24 billion, a PE ratio of 55.26, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 1.03. The company has a fifty day moving average of $465.40 and a 200-day moving average of $441.41.

S&P Global (NYSE:SPGI) last released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter last year, the business earned $3.12 EPS. The business’s revenue was up 14.4% on a year-over-year basis. As a group, analysts expect that S&P Global will post 14.58 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, August 27th. S&P Global’s payout ratio is currently 40.81%.

Insider Transactions at S&P Global

In other news, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 154,912 shares in the company, valued at $74,915,443.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 completion of the sale, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock worth $8,645,727 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On S&P Global

Institutional investors have recently bought and sold shares of the stock. Private Wealth Management Group LLC purchased a new stake in S&P Global during the fourth quarter worth approximately $26,000. Pineridge Advisors LLC purchased a new stake in S&P Global during the fourth quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group grew its stake in S&P Global by 64.1% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock worth $28,000 after buying an additional 25 shares during the period. Sachetta LLC grew its stake in S&P Global by 103.4% during the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after buying an additional 30 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new stake in S&P Global during the second quarter worth approximately $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.