UBS Group Cuts S&P Global (SPGI) Price Target to $241.00
S&P Global (NYSE:SPGI) had its price target reduced by UBS Group from $242.00 to $241.00 in a research note issued to investors on Friday, www.benzinga.com reports. They currently have a buy rating on the business services provider’s stock.
A number of other research analysts also recently issued reports on the stock. Atlantic Securities downgraded shares of S&P Global from an overweight rating to a neutral rating in a research report on Wednesday, August 1st. Morgan Stanley boosted their price objective on shares of S&P Global from $217.00 to $219.00 and gave the company an equal weight rating in a research report on Friday, July 27th. BMO Capital Markets boosted their price objective on shares of S&P Global from $209.00 to $214.00 and gave the company a market perform rating in a research report on Friday, July 27th. Stifel Nicolaus boosted their price objective on shares of S&P Global from $186.00 to $214.00 and gave the company a hold rating in a research report on Friday, July 27th. Finally, Zacks Investment Research downgraded shares of S&P Global from a buy rating to a hold rating in a research report on Thursday, July 12th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of Buy and an average price target of $206.93.
Shares of NYSE SPGI opened at $211.46 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 5.75. S&P Global has a 52 week low of $153.25 and a 52 week high of $217.31. The firm has a market capitalization of $53.18 billion, a P/E ratio of 30.69, a PEG ratio of 1.98 and a beta of 1.22.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Tuesday, August 28th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Monday, August 27th. S&P Global’s dividend payout ratio (DPR) is presently 29.03%.
In related news, CEO Douglas L. Peterson sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $201.27, for a total value of $805,080.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Nancy Luquette sold 350 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $203.35, for a total transaction of $71,172.50. Following the completion of the transaction, the senior vice president now owns 531 shares in the company, valued at approximately $107,978.85. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SPGI. Kaizen Advisory LLC lifted its stake in S&P Global by 143.4% during the 2nd quarter. Kaizen Advisory LLC now owns 606 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 357 shares during the period. Sun Life Financial INC lifted its stake in S&P Global by 209.0% during the 2nd quarter. Sun Life Financial INC now owns 683 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 462 shares during the period. First Mercantile Trust Co. lifted its stake in S&P Global by 65.0% during the 2nd quarter. First Mercantile Trust Co. now owns 848 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 334 shares during the period. Clinton Group Inc. bought a new position in S&P Global during the 2nd quarter valued at about $201,000. Finally, Fiera Capital Corp bought a new position in S&P Global during the 2nd quarter valued at about $202,000. Institutional investors own 83.51% of the company’s stock.
About S&P Global
S&P Global Inc provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through three segments: Ratings, Market and Commodities Intelligence, and S&P Dow Jones Indices. The Ratings segment provides credit ratings, research, and analytics to investors, issuers, and other market participants.
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