Raymond James Cuts S&P Global (SPGI) Price Target to $209.00
S&P Global (NYSE:SPGI) had its price objective trimmed by Raymond James from $215.00 to $209.00 in a research note published on Tuesday. The firm currently has an outperform rating on the business services provider’s stock.
A number of other research analysts have also recently issued reports on SPGI. UBS Group decreased their target price on S&P Global from $242.00 to $241.00 and set a buy rating for the company in a research note on Friday, September 21st. Zacks Investment Research cut S&P Global from a hold rating to a sell rating in a research report on Wednesday, September 26th. ValuEngine cut S&P Global from a buy rating to a hold rating in a research report on Tuesday, October 9th. Morgan Stanley set a $204.00 price target on S&P Global and gave the company a hold rating in a research report on Thursday, October 11th. Finally, Wells Fargo & Co reduced their price target on S&P Global from $205.00 to $180.00 and set a market perform rating for the company in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. S&P Global presently has an average rating of Hold and an average target price of $204.64.
NYSE SPGI traded down $1.42 on Tuesday, reaching $175.73. The company had a trading volume of 70,766 shares, compared to its average volume of 1,718,180. The company has a market capitalization of $43.57 billion, a PE ratio of 25.48, a P/E/G ratio of 1.31 and a beta of 1.11. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 3.82. S&P Global has a 52 week low of $156.68 and a 52 week high of $217.31.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 28th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, November 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. S&P Global’s dividend payout ratio (DPR) is currently 29.03%.
In other news, SVP Nancy Luquette sold 225 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $183.51, for a total transaction of $41,289.75. Following the transaction, the senior vice president now owns 306 shares in the company, valued at $56,154.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Moody National Bank Trust Division acquired a new position in S&P Global during the 4th quarter valued at about $29,000. Capital Guardian Trust Co. purchased a new position in shares of S&P Global in the 3rd quarter worth approximately $134,000. Advisory Research Inc. purchased a new position in shares of S&P Global in the 3rd quarter worth approximately $200,000. Wealthsource Partners LLC purchased a new position in shares of S&P Global in the 3rd quarter worth approximately $204,000. Finally, Independent Advisor Alliance purchased a new position in shares of S&P Global in the 3rd quarter worth approximately $211,000. Institutional investors own 82.57% 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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