UBS Group Raises S&P Global (NYSE:SPGI) Price Target to $610.00

S&P Global (NYSE:SPGI) had its target price hoisted by UBS Group from $605.00 to $610.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Several other brokerages have also commented on SPGI. Bank of America raised their price target on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley raised their target price on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research report on Friday. Evercore ISI started coverage on shares of S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $569.77.

S&P Global Price Performance

S&P Global stock opened at $490.61 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $153.56 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. The firm has a 50-day moving average of $513.82 and a two-hundred day moving average of $471.14. S&P Global has a 1 year low of $340.49 and a 1 year high of $533.29.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. S&P Global’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.21 earnings per share. On average, research analysts forecast that S&P Global will post 14.79 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is currently 34.50%.

Insiders Place Their Bets

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value 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 approximately $7,618,662.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction dated 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 sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was 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 owns 154,912 shares of the company’s stock, valued at approximately $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,862 shares of company stock valued at $8,645,727. Insiders own 0.10% of the company’s stock.

Institutional Trading of S&P Global

Several large investors have recently made changes to their positions in the business. Kingswood Wealth Advisors LLC boosted its stake in shares of S&P Global by 16.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,047 shares of the business services provider’s stock worth $445,000 after buying an additional 145 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in S&P Global by 52.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 769 shares of the business services provider’s stock worth $327,000 after purchasing an additional 265 shares in the last quarter. Vicus Capital acquired a new stake in shares of S&P Global during the 1st quarter worth approximately $429,000. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in shares of S&P Global by 10.3% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 1,457 shares of the business services provider’s stock valued at $620,000 after purchasing an additional 136 shares in the last quarter. Finally, Foguth Wealth Management LLC. acquired a new position in shares of S&P Global in the 1st quarter valued at $205,000. 87.17% of the stock is owned by hedge funds and other 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.