Oppenheimer Boosts S&P Global (NYSE:SPGI) Price Target to $590.00

S&P Global (NYSE:SPGI) had its price objective lifted by Oppenheimer from $540.00 to $590.00 in a report published on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price target on shares of S&P Global from $532.00 to $537.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Evercore ISI began coverage on S&P Global in a research note on Wednesday. They issued an outperform rating and a $599.00 target price on the stock. Barclays upped their price target on S&P Global from $550.00 to $610.00 and gave the company an overweight rating in a research report on Friday, September 13th. Morgan Stanley lifted their price objective on S&P Global from $530.00 to $564.00 and gave the stock an overweight rating in a research report on Thursday, September 5th. Finally, Raymond James cut S&P Global from an outperform rating to a market perform rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $556.58.

S&P Global Price Performance

Shares of S&P Global stock opened at $512.17 on Thursday. 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 has a 52-week low of $340.49 and a 52-week high of $528.02. The company has a fifty day moving average of $504.86 and a 200-day moving average of $461.38. The stock has a market capitalization of $160.26 billion, a price-to-earnings ratio of 57.42, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.37. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.12 earnings per share. Equities research analysts expect that S&P Global will post 14.57 EPS for the current year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.71%. S&P Global’s payout ratio is 40.81%.

Insiders Place Their Bets

In other news, 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 value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. 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. Also, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On S&P Global

Institutional investors and hedge funds have recently modified their holdings of the stock. Pineridge Advisors LLC bought a new stake in S&P Global during the 4th quarter valued at about $26,000. HWG Holdings LP bought a new stake in shares of S&P Global during the second quarter valued at approximately $27,000. Sachetta LLC raised 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 acquiring an additional 30 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in S&P Global in the 2nd quarter valued at approximately $31,000. Finally, First Pacific Financial lifted its position in S&P Global by 49.0% in the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 24 shares in the last quarter. 87.17% of the stock is currently owned by 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.