Morgan Stanley Boosts S&P Global (NYSE:SPGI) Price Target to $232.00

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S&P Global (NYSE:SPGI) had its target price increased by Morgan Stanley from $226.00 to $232.00 in a research note published on Tuesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

Several other research firms have also recently issued reports on SPGI. UBS Group raised S&P Global from a neutral rating to a buy rating and raised their target price for the stock from $228.00 to $252.00 in a research note on Tuesday, May 21st. Zacks Investment Research raised S&P Global from a sell rating to a hold rating in a research report on Monday, May 6th. Raymond James lifted their target price on shares of S&P Global from $209.00 to $226.00 and gave the company an outperform rating in a report on Tuesday, April 9th. Finally, Piper Jaffray Companies boosted their price objective on shares of S&P Global from $220.00 to $242.00 and gave the stock an overweight rating in a report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. S&P Global has an average rating of Buy and an average price target of $218.09.

Shares of NYSE:SPGI opened at $222.69 on Tuesday. S&P Global has a 12-month low of $156.68 and a 12-month high of $229.00. The stock has a market cap of $56.07 billion, a PE ratio of 26.20, a P/E/G ratio of 1.81 and a beta of 1.10. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 11.03.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $2.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.12 by ($0.01). S&P Global had a net margin of 29.99% and a return on equity of 325.28%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the business posted $2.00 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts anticipate that S&P Global will post 9.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.02%. The ex-dividend date is Tuesday, May 28th. S&P Global’s payout ratio is currently 26.82%.

In other news, CEO Douglas L. Peterson sold 6,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $211.01, for a total transaction of $1,266,060.00. Following the sale, the chief executive officer now directly owns 173,431 shares in the company, valued at approximately $36,595,675.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alexander Matturri, Jr. sold 1,790 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $205.88, for a total transaction of $368,525.20. Following the sale, the chief executive officer now owns 19,478 shares in the company, valued at $4,010,130.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,095 shares of company stock worth $4,729,500. Corporate insiders own 0.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SPGI. Meridian Wealth Management LLC purchased a new stake in S&P Global in the 1st quarter valued at $26,000. Harvest Group Wealth Management LLC purchased a new position in S&P Global during the 1st quarter worth $28,000. Julex Capital Management LLC purchased a new position in shares of S&P Global in the 1st quarter valued at about $28,000. Sontag Advisory LLC purchased a new position in shares of S&P Global in the 4th quarter valued at about $31,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of S&P Global by 7,358.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,418,367 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 5,345,720 shares in the last quarter. Hedge funds and other institutional investors own 83.00% of the company’s stock.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

Further Reading: The limitations of an equal weight rating

Analyst Recommendations for S&P Global (NYSE:SPGI)

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