S&P Global (NYSE:SPGI) Price Target Raised to $590.00 at BMO Capital Markets

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

A number of other analysts have also commented on SPGI. JPMorgan Chase & Co. decreased their price objective on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Citigroup assumed coverage on S&P Global in a research report on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. StockNews.com raised S&P Global from a “hold” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus raised their price objective on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, UBS Group upped their target price 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. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $587.92.

S&P Global Stock Performance

NYSE SPGI opened at $542.44 on Thursday. The company has a market cap of $168.32 billion, a P/E ratio of 47.88, a PEG ratio of 2.39 and a beta of 1.20. The company has a fifty day simple moving average of $506.35 and a 200 day simple moving average of $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.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $3.13 earnings per share. Sell-side analysts predict 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. Investors of record on Wednesday, February 26th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s dividend payout ratio (DPR) is 32.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in S&P Global in the 4th quarter worth about $1,725,084,000. Raymond James Financial Inc. bought a new position in S&P Global during the fourth quarter worth about $527,207,000. Proficio Capital Partners LLC increased its stake in shares of S&P Global by 71,024.1% in the fourth quarter. Proficio Capital Partners LLC now owns 619,491 shares of the business services provider’s stock worth $308,525,000 after purchasing an additional 618,620 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of S&P Global by 174,815.4% in the third quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after purchasing an additional 466,757 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of S&P Global during the 3rd quarter valued at approximately $224,976,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.