Wells Fargo & Company Boosts S&P Global (NYSE:SPGI) Price Target to $620.00

S&P Global (NYSE:SPGI) had its target price hoisted by analysts at Wells Fargo & Company from $575.00 to $620.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 18.37% from the stock’s current price.

SPGI has been the topic of a number of other reports. Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. UBS Group upped their price target on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Barclays upped their price target on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upped their price target on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Bank of America upped their price target on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $560.83.

S&P Global Stock Performance

Shares of NYSE:SPGI traded up $5.44 on Wednesday, reaching $523.79. 251,322 shares of the company’s stock were exchanged, compared to its average volume of 1,202,175. The firm has a market capitalization of $163.89 billion, a price-to-earnings ratio of 58.72, a PEG ratio of 2.91 and a beta of 1.18. S&P Global has a fifty-two week low of $340.49 and a fifty-two week high of $528.02. The business’s 50-day moving average is $505.80 and its two-hundred day moving average is $462.87. 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 (NYSE:SPGI) last issued its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.12 earnings per share. As a group, equities research analysts forecast that S&P Global will post 14.57 EPS for the current year.

Insider Buying and Selling at S&P Global

In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing 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 dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the sale, the insider now directly owns 13,217 shares of the company’s stock, valued at $6,496,816.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,862 shares of company stock valued at $8,645,727. 0.10% of the stock is owned by insiders.

Institutional Trading of S&P Global

Hedge funds have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in S&P Global by 107.2% during the second 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 in the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new stake in shares of S&P Global in the first quarter worth approximately $1,222,000. Quadrature Capital Ltd purchased a new stake in shares of S&P Global in the first quarter worth approximately $2,236,000. New Mexico Educational Retirement Board lifted its position in shares of S&P Global by 20.5% in the first 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, Eventide Asset Management LLC lifted its position in shares of S&P Global by 85.0% in the fourth quarter. Eventide Asset Management LLC now owns 4,208 shares of the business services provider’s stock worth $1,854,000 after purchasing an additional 1,933 shares in the last quarter. 87.17% of the stock is 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.