S&P Global (NYSE:SPGI) Price Target Lowered to $550.00 at Bank of America

S&P Global (NYSE:SPGI) had its price objective reduced by Bank of America from $575.00 to $550.00 in a research note issued to investors on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the business services provider’s stock.

Several other research firms have also recently weighed in on SPGI. Evercore lowered their price target on S&P Global from $625.00 to $560.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Mizuho increased their target price on S&P Global from $551.00 to $554.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Daiwa Securities Group dropped their target price on S&P Global from $490.00 to $485.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 20th. Rothschild & Co Redburn cut their price target on S&P Global from $540.00 to $520.00 and set a “buy” rating for the company in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group reduced their price target on shares of S&P Global from $539.00 to $490.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and a consensus target price of $532.00.

S&P Global Stock Performance

Shares of NYSE:SPGI traded down $2.81 during midday trading on Friday, reaching $430.15. 1,320,839 shares of the company’s stock traded hands, compared to its average volume of 2,504,758. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 0.68. S&P Global has a one year low of $381.61 and a one year high of $579.05. The company has a market cap of $127.32 billion, a price-to-earnings ratio of 27.22, a P/E/G ratio of 1.85 and a beta of 1.08. The stock has a 50 day moving average of $419.31 and a 200 day moving average of $448.10.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.15. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.08 billion. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.37 EPS. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. As a group, equities research analysts anticipate that S&P Global will post 19.59 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 26th. S&P Global’s dividend payout ratio (DPR) is currently 24.56%.

Insider Activity at S&P Global

In related news, Director Robert Edward Jr. Moritz acquired 1,152 shares of the stock in a transaction dated Thursday, April 30th. The shares were purchased at an average cost of $434.03 per share, with a total value of $500,002.56. Following the transaction, the director directly owned 1,152 shares in the company, valued at approximately $500,002.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Martina Cheung acquired 2,322 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were bought at an average price of $429.93 per share, with a total value of $998,297.46. Following the completion of the purchase, the chief executive officer owned 27,518 shares in the company, valued at $11,830,813.74. This trade represents a 9.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 5,974 shares of company stock worth $2,576,775. Corporate insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On S&P Global

Several large investors have recently added to or reduced their stakes in the company. Joseph Group Capital Management bought a new stake in shares of S&P Global during the 4th quarter valued at $29,000. North Star Investment Management Corp. boosted its holdings in S&P Global by 134.6% in the 4th quarter. North Star Investment Management Corp. now owns 61 shares of the business services provider’s stock worth $32,000 after buying an additional 35 shares during the period. Palladiem LLC bought a new position in S&P Global in the 4th quarter worth $36,000. Palisade Asset Management LLC purchased a new stake in S&P Global in the 3rd quarter worth $36,000. Finally, Swiss RE Ltd. purchased a new stake in S&P Global in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Company Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.