S&P Global (NYSE:SPGI) Given New $552.00 Price Target at Royal Bank of Canada

S&P Global (NYSE:SPGI) had its target price raised by Royal Bank of Canada from $500.00 to $552.00 in a report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

Several other equities research analysts also recently commented on the company. Erste Group Bank reiterated a hold rating on shares of S&P Global in a report on Wednesday, April 3rd. BMO Capital Markets boosted their price target on S&P Global from $532.00 to $537.00 and gave the company an outperform rating in a research note on Wednesday. Morgan Stanley boosted their price target on S&P Global from $500.00 to $510.00 and gave the company an overweight rating in a research note on Friday, July 5th. Bank of America boosted 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. Finally, Stifel Nicolaus boosted their price target on S&P Global from $442.00 to $446.00 and gave the company a buy rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $526.73.

S&P Global Price Performance

NYSE SPGI opened at $486.04 on Wednesday. S&P Global has a one year low of $340.49 and a one year high of $502.95. The stock has a 50-day moving average of $455.60 and a 200 day moving average of $438.81. The company has a market capitalization of $152.13 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 1.03.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period last year, the company earned $3.12 EPS. S&P Global’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that S&P Global will post 14.58 EPS for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.75%. S&P Global’s payout ratio is currently 40.81%.

Insider Activity

In related news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the transaction, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On S&P Global

Large investors have recently modified their holdings of the stock. Private Wealth Management Group LLC bought a new position in shares of S&P Global during the 4th quarter valued at approximately $26,000. Pineridge Advisors LLC bought a new position in shares of S&P Global during the 4th quarter valued at approximately $26,000. Oliver Lagore Vanvalin Investment Group increased its position in shares of S&P Global by 64.1% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 25 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of S&P Global during the 2nd quarter valued at approximately $31,000. Finally, First Pacific Financial grew 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 during the last quarter. Institutional investors own 87.17% of the company’s stock.

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.