Stifel Nicolaus Cuts S&P Global (NYSE:SPGI) Price Target to $599.00

S&P Global (NYSE:SPGI) had its price target lowered by Stifel Nicolaus from $625.00 to $599.00 in a research note released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Evercore ISI boosted their target price on S&P Global from $619.00 to $629.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets restated an “outperform” rating and set a $538.00 target price on shares of S&P Global in a research note on Friday. Wells Fargo & Company boosted their target price on S&P Global from $660.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. UBS Group boosted their target price on S&P Global from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of S&P Global in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $612.38.

S&P Global Price Performance

SPGI stock opened at $487.37 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $148.80 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.50 and a beta of 1.19. The business’s 50-day moving average is $507.44 and its two-hundred day moving average is $515.66. S&P Global has a 1 year low of $427.14 and a 1 year high of $579.05.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share (EPS) for the quarter. The company had revenue of $1.87 billion for the quarter. S&P Global had a return on equity of 15.11% and a net margin of 27.30%. Analysts anticipate that S&P Global will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $3.84 annualized dividend and a yield of 0.8%. S&P Global’s payout ratio is 27.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of S&P Global by 1.1% in the second quarter. Vanguard Group Inc. now owns 30,094,919 shares of the business services provider’s stock valued at $15,868,750,000 after purchasing an additional 315,916 shares during the period. TCI Fund Management Ltd. increased its holdings in shares of S&P Global by 7.0% in the second quarter. TCI Fund Management Ltd. now owns 11,091,623 shares of the business services provider’s stock valued at $5,848,502,000 after purchasing an additional 730,354 shares during the period. Geode Capital Management LLC increased its holdings in shares of S&P Global by 0.6% in the second quarter. Geode Capital Management LLC now owns 6,793,282 shares of the business services provider’s stock valued at $3,565,889,000 after purchasing an additional 42,724 shares during the period. Norges Bank acquired a new position in shares of S&P Global in the second quarter valued at approximately $2,188,945,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in S&P Global by 3.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,186,250 shares of the business services provider’s stock worth $1,618,934,000 after acquiring an additional 114,843 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Company Profile

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.