S&P Global (NYSE:SPGI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

S&P Global (NYSE:SPGI) had its target price upped by analysts at Wells Fargo & Company from $627.00 to $632.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 19.02% from the company’s previous close.

Several other analysts also recently weighed in on SPGI. Stifel Nicolaus lowered their target price on shares of S&P Global from $629.00 to $603.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Argus raised shares of S&P Global to a “strong-buy” rating in a report on Friday, May 16th. UBS Group boosted their price objective on shares of S&P Global from $555.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Mizuho assumed coverage on shares of S&P Global in a report on Wednesday, March 12th. They set an “outperform” rating and a $599.00 price objective on the stock. Finally, Bank of America assumed coverage on shares of S&P Global in a report on Thursday, April 10th. They set a “buy” rating and a $600.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target of $593.93.

S&P Global Stock Up 1.0%

Shares of NYSE:SPGI opened at $531.02 on Thursday. The company has a market cap of $162.86 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 2.58 and a beta of 1.19. The firm’s 50-day simple moving average is $512.34 and its 200-day simple moving average is $504.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. S&P Global has a fifty-two week low of $427.14 and a fifty-two week high of $545.39.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, April 29th. The business services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.14. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.72 billion. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.01 earnings per share. As a group, equities research analysts predict that S&P Global will post 17.11 earnings per share for the current year.

Insider Transactions at S&P Global

In other S&P Global news, EVP Sally Moore sold 500 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the completion of the sale, the executive vice president directly owned 5,131 shares in the company, valued at $2,619,016.33. The trade was a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new position in shares of S&P Global in the fourth quarter valued at $25,000. Cheviot Value Management LLC purchased a new position in shares of S&P Global in the first quarter valued at $26,000. Costello Asset Management INC acquired a new stake in S&P Global in the first quarter valued at $26,000. Anderson Financial Strategies LLC acquired a new stake in S&P Global in the fourth quarter valued at $27,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in S&P Global in the first quarter valued at $28,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.