BMO Capital Markets Increases S&P Global (NYSE:SPGI) Price Target to $589.00

S&P Global (NYSE:SPGI) had its price target raised by equities research analysts at BMO Capital Markets from $537.00 to $589.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 11.30% from the company’s current price.

Several other equities research analysts have also commented on the stock. Bank of America boosted their price objective on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. UBS Group boosted their price target on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Morgan Stanley boosted their price target on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Oppenheimer boosted their price target on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price target on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, S&P Global presently has a consensus rating of “Moderate Buy” and an average target price of $565.17.

S&P Global Stock Up 0.1 %

Shares of NYSE:SPGI opened at $529.18 on Tuesday. The firm has a market capitalization of $165.58 billion, a P/E ratio of 59.33, a P/E/G ratio of 2.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $510.85 and a 200-day moving average price of $466.86. S&P Global has a 52-week low of $340.49 and a 52-week high of $533.29.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the company earned $3.12 earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts anticipate that S&P Global will post 14.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now directly owns 154,912 shares in the company, valued at $74,915,443.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. This represents 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. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On S&P Global

Hedge funds have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in S&P Global by 107.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,725 shares of the business services provider’s stock valued at $2,798,000 after buying an additional 2,962 shares during the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new stake in shares of S&P Global in the 1st quarter worth $1,222,000. Quadrature Capital Ltd purchased a new stake in shares of S&P Global in the 1st quarter worth $2,236,000. New Mexico Educational Retirement Board increased its stake in shares of S&P Global by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 20,586 shares of the business services provider’s stock worth $8,444,000 after purchasing an additional 3,500 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of S&P Global by 21.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,683 shares of the business services provider’s stock worth $14,756,000 after purchasing an additional 6,162 shares in the last quarter. 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.