S&P Global (NYSE:SPGI) Price Target Raised to $246.00
S&P Global (NYSE:SPGI) had its price target hoisted by Raymond James from $226.00 to $246.00 in a report published on Wednesday, The Fly reports. They currently have an outperform rating on the business services provider’s stock.
SPGI has been the subject of several other research reports. Piper Jaffray Companies set a $16.00 price target on shares of WPX Energy and gave the stock a buy rating in a report on Friday, April 5th. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on shares of Diageo and gave the stock a neutral rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Williams-Sonoma from $52.00 to $56.00 and gave the stock an underweight rating in a report on Wednesday. UBS Group boosted their price target on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a buy rating in a report on Wednesday. Finally, Zacks Investment Research cut shares of GALP ENERGIA SG/ADR from a hold rating to a sell rating in a report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. S&P Global has an average rating of Buy and a consensus target price of $225.55.
NYSE SPGI opened at $241.26 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 11.03. S&P Global has a 52 week low of $156.68 and a 52 week high of $241.29. The firm has a market cap of $58.85 billion, a PE ratio of 28.38, a PEG ratio of 1.89 and a beta of 1.08. The business’s 50 day moving average price is $225.73.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, August 26th. S&P Global’s payout ratio is 26.82%.
In other news, CEO Douglas L. Peterson sold 6,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $211.01, for a total value of $1,266,060.00. Following the completion of the transaction, the chief executive officer now owns 173,431 shares in the company, valued at approximately $36,595,675.31. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alexander Matturri, Jr. sold 1,007 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $230.44, for a total transaction of $232,053.08. Following the completion of the transaction, the chief executive officer now owns 18,723 shares of the company’s stock, valued at approximately $4,314,528.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,312 shares of company stock valued at $4,593,028. Company insiders own 0.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in S&P Global during the 4th quarter worth $391,635,000. Packer & Co Ltd boosted its stake in S&P Global by 302.8% during the 2nd quarter. Packer & Co Ltd now owns 801,578 shares of the business services provider’s stock worth $38,497,000 after purchasing an additional 602,578 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in S&P Global by 28.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,241,090 shares of the business services provider’s stock worth $380,851,000 after purchasing an additional 497,129 shares during the period. Manning & Napier Group LLC acquired a new stake in S&P Global during the 1st quarter worth $103,755,000. Finally, Pennsylvania Trust Co boosted its stake in S&P Global by 13,850.4% during the 1st quarter. Pennsylvania Trust Co now owns 414,745 shares of the business services provider’s stock worth $36,282,000 after purchasing an additional 411,772 shares during the period. Institutional investors and hedge funds own 82.77% of the company’s stock.
S&P Global Company Profile
S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).
Recommended Story: The risks of owning bonds
Receive News & Ratings for S&P Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&P Global and related companies with MarketBeat.com's FREE daily email newsletter.