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

S&P Global (NYSE:SPGI) had its price objective increased by BMO Capital Markets from $576.00 to $590.00 in a research report sent to investors on Thursday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded S&P Global from a “hold” rating to a “buy” rating in a research report on Wednesday. Citigroup began coverage on S&P Global in a report on Friday, December 20th. They set a “buy” rating and a $600.00 price objective for the company. Evercore ISI raised their target price on shares of S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group boosted their price target on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.92.

S&P Global Trading Up 2.1 %

Shares of S&P Global stock opened at $542.44 on Thursday. The company’s 50-day moving average price is $506.35 and its 200-day moving average price is $506.53. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global has a 12-month low of $407.69 and a 12-month high of $542.77. The company has a market cap of $168.32 billion, a price-to-earnings ratio of 47.88, a PEG ratio of 2.39 and a beta of 1.20.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.36. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. During the same period in the previous year, the firm posted $3.13 EPS. On average, equities analysts expect that S&P Global will post 15.34 earnings per share for the current fiscal year.

S&P Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be issued a $0.96 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.71%. This is an increase from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s payout ratio is currently 32.13%.

Institutional Investors Weigh In On S&P Global

Institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in shares of S&P Global by 52.0% during the fourth quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock valued at $328,632,000 after purchasing an additional 225,370 shares during the period. GDS Wealth Management raised its holdings in S&P Global by 7.0% during the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock valued at $14,134,000 after buying an additional 1,801 shares during the last quarter. Sanctuary Advisors LLC boosted its position in S&P Global by 12.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider’s stock valued at $14,198,000 after buying an additional 3,093 shares during the period. Eastern Bank grew its holdings in S&P Global by 3.1% in the 4th quarter. Eastern Bank now owns 50,157 shares of the business services provider’s stock worth $24,980,000 after acquiring an additional 1,530 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of S&P Global in the third quarter valued at about $27,170,000. 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.