Short Interest in S&P Global Inc (NYSE:SPGI) Expands By 9.5%

S&P Global Inc (NYSE:SPGI) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,206,300 shares, a growth of 9.5% from the June 30th total of 2,928,300 shares. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is currently 2.9 days. Currently, 1.3% of the company’s stock are sold short.

In related news, insider Nicholas Cafferillo sold 9,911 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $252.95, for a total value of $2,506,987.45. Following the sale, the insider now owns 7,454 shares in the company, valued at approximately $1,885,489.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven J. Kemps sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $249.88, for a total value of $1,374,340.00. Following the completion of the sale, the executive vice president now owns 7,540 shares in the company, valued at approximately $1,884,095.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,418 shares of company stock worth $4,113,381 in the last quarter. Company insiders own 0.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its holdings in shares of S&P Global by 0.3% during the 2nd quarter. Bamco Inc. NY now owns 30,994 shares of the business services provider’s stock valued at $7,060,000 after buying an additional 103 shares during the period. Voleon Capital Management LP bought a new position in shares of S&P Global during the 2nd quarter valued at $7,973,000. Waddell & Reed Financial Inc. lifted its holdings in shares of S&P Global by 6.0% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 965,298 shares of the business services provider’s stock valued at $219,885,000 after buying an additional 54,975 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in shares of S&P Global by 18.9% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 322,480 shares of the business services provider’s stock valued at $73,458,000 after buying an additional 51,221 shares during the period. Finally, Pictet Asset Management Ltd. lifted its holdings in shares of S&P Global by 26.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 154,642 shares of the business services provider’s stock valued at $35,226,000 after buying an additional 32,031 shares during the period. 82.43% of the stock is currently owned by hedge funds and other institutional investors.

SPGI traded up $3.41 during trading on Friday, hitting $256.58. 20,683 shares of the company’s stock traded hands, compared to its average volume of 1,291,009. The company’s 50 day simple moving average is $242.73 and its two-hundred day simple moving average is $218.87. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 7.52. S&P Global has a 12-month low of $156.68 and a 12-month high of $262.83. The stock has a market capitalization of $63.64 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.81 and a beta of 1.08.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, August 1st. The business services provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.28 by $0.15. S&P Global had a return on equity of 341.54% and a net margin of 31.02%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $2.17 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. On average, equities analysts expect that S&P Global will post 9.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.28 annualized dividend and a dividend yield of 0.89%. S&P Global’s payout ratio is 26.82%.

SPGI has been the topic of several recent research reports. Raymond James upped their price target on S&P Global from $246.00 to $272.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Morgan Stanley increased their target price on S&P Global from $254.00 to $262.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. UBS Group increased their target price on S&P Global from $252.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Zacks Investment Research upgraded S&P Global from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Finally, BMO Capital Markets increased their target price on S&P Global to $255.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. S&P Global currently has a consensus rating of “Buy” and a consensus target price of $252.23.

S&P Global Company Profile

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).

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