Piper Jaffray Companies Boosts S&P Global (SPGI) Price Target to $168.00
S&P Global (NYSE:SPGI) had its price objective raised by research analysts at Piper Jaffray Companies from $150.00 to $168.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “overweight” rating on the business services provider’s stock. Piper Jaffray Companies’ price target would suggest a potential downside of 4.33% from the stock’s current price.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut S&P Global from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. BMO Capital Markets cut S&P Global from an “outperform” rating to a “market perform” rating and set a $166.00 price target for the company. in a report on Friday, October 27th. Goldman Sachs Group reissued a “neutral” rating and issued a $176.00 price target on shares of S&P Global in a report on Wednesday, October 18th. Morgan Stanley raised their price target on S&P Global from $154.00 to $158.00 and gave the company an “equal weight” rating in a report on Friday, October 6th. Finally, Barclays lifted their price objective on S&P Global from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $171.67.
S&P Global (NYSE SPGI) traded down $1.63 during trading on Wednesday, reaching $175.61. The company’s stock had a trading volume of 935,797 shares, compared to its average volume of 999,824. S&P Global has a 52 week low of $110.54 and a 52 week high of $178.50. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 4.00. The firm has a market cap of $44,780.00, a PE ratio of 25.79, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51.
In related news, CEO Douglas L. Peterson sold 4,000 shares of S&P Global stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $157.79, for a total transaction of $631,160.00. Following the completion of the transaction, the chief executive officer now directly owns 140,743 shares of the company’s stock, valued at $22,207,837.97. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Courtney Geduldig sold 1,596 shares of S&P Global stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $156.50, for a total value of $249,774.00. Following the transaction, the executive vice president now directly owns 2,663 shares of the company’s stock, valued at $416,759.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,000 shares of company stock valued at $1,104,704. 0.20% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Korea Investment CORP increased its position in S&P Global by 11.1% during the third quarter. Korea Investment CORP now owns 310,109 shares of the business services provider’s stock worth $48,473,000 after buying an additional 30,900 shares in the last quarter. Prudential Financial Inc. increased its position in S&P Global by 3.4% during the third quarter. Prudential Financial Inc. now owns 1,441,961 shares of the business services provider’s stock worth $225,392,000 after buying an additional 47,930 shares in the last quarter. New York State Common Retirement Fund increased its position in S&P Global by 4.3% during the second quarter. New York State Common Retirement Fund now owns 889,431 shares of the business services provider’s stock worth $129,848,000 after buying an additional 36,605 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in S&P Global during the third quarter worth $23,854,000. Finally, APG Asset Management N.V. increased its position in S&P Global by 2.3% during the third quarter. APG Asset Management N.V. now owns 522,678 shares of the business services provider’s stock worth $81,700,000 after buying an additional 11,700 shares in the last quarter. 84.95% of the stock is owned by institutional investors.
About S&P Global
S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
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