S&P Global (NYSE:SPGI) had its price objective trimmed by Wells Fargo & Co from $205.00 to $180.00 in a research note issued to investors on Friday. The firm currently has a market perform rating on the business services provider’s stock.
Several other research analysts have also issued reports on the company. Zacks Investment Research lowered S&P Global from a hold rating to a sell rating in a research note on Wednesday, September 26th. UBS Group dropped their price objective 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. Atlantic Securities lowered S&P Global from an overweight rating to a neutral rating in a research note on Wednesday, August 1st. Morgan Stanley increased their price objective on S&P Global from $217.00 to $219.00 and gave the stock an equal weight rating in a research note on Friday, July 27th. Finally, ValuEngine lowered S&P Global from a buy rating to a hold rating in a research note on Tuesday, October 9th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. S&P Global presently has a consensus rating of Hold and an average target price of $206.69.
Shares of NYSE SPGI traded down $5.76 during trading hours on Friday, reaching $171.41. The stock had a trading volume of 3,146,565 shares, compared to its average volume of 1,726,265. The company has a current ratio of 1.44, a quick ratio of 1.27 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $44.56 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.45 and a beta of 1.19. S&P Global has a twelve month low of $153.25 and a twelve month high of $217.31.
In other news, SVP Nancy Luquette sold 350 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $203.35, for a total transaction of $71,172.50. Following the sale, the senior vice president now owns 531 shares in the company, valued at $107,978.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas L. Peterson sold 4,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $201.27, for a total value of $805,080.00. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in SPGI. LPL Financial LLC grew its holdings in shares of S&P Global by 12.6% during the first quarter. LPL Financial LLC now owns 13,841 shares of the business services provider’s stock worth $2,645,000 after purchasing an additional 1,549 shares during the last quarter. Park National Corp OH bought a new position in S&P Global in the second quarter valued at about $1,374,000. Gulf International Bank UK Ltd boosted its holdings in S&P Global by 0.3% in the second quarter. Gulf International Bank UK Ltd now owns 80,871 shares of the business services provider’s stock valued at $16,488,000 after acquiring an additional 250 shares during the last quarter. Clinton Group Inc. bought a new position in S&P Global in the second quarter valued at about $201,000. Finally, IFM Investors Pty Ltd boosted its holdings in S&P Global by 43.3% in the second quarter. IFM Investors Pty Ltd now owns 11,406 shares of the business services provider’s stock valued at $2,326,000 after acquiring an additional 3,446 shares during the last quarter. Institutional investors own 83.70% 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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