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

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

In related news, EVP Steven J. Kemps sold 5,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $249.88, for a total value of $1,374,340.00. Following the transaction, the executive vice president now directly owns 7,540 shares in the company, valued at approximately $1,884,095.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexander Matturri, Jr. sold 1,007 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $230.44, for a total transaction of $232,053.08. Following the completion of the transaction, the chief executive officer now owns 18,723 shares in the company, valued at $4,314,528.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,418 shares of company stock worth $4,113,381. 0.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of S&P Global by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 20,916,210 shares of the business services provider’s stock worth $4,764,503,000 after acquiring an additional 193,682 shares during the period. BlackRock Inc. lifted its holdings in shares of S&P Global by 2.1% during the 2nd quarter. BlackRock Inc. now owns 16,706,719 shares of the business services provider’s stock worth $3,805,622,000 after acquiring an additional 339,310 shares during the period. Edgewood Management LLC lifted its holdings in shares of S&P Global by 0.3% during the 2nd quarter. Edgewood Management LLC now owns 6,451,886 shares of the business services provider’s stock worth $1,469,675,000 after acquiring an additional 20,045 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of S&P Global by 2.0% during the 1st quarter. OppenheimerFunds Inc. now owns 4,213,907 shares of the business services provider’s stock worth $887,238,000 after acquiring an additional 80,700 shares during the period. Finally, Egerton Capital UK LLP lifted its holdings in shares of S&P Global by 11.0% during the 1st quarter. Egerton Capital UK LLP now owns 3,339,926 shares of the business services provider’s stock worth $703,221,000 after acquiring an additional 330,142 shares during the period. Institutional investors own 82.43% of the company’s stock.

A number of research analysts recently issued reports on the stock. Argus raised their target price on shares of S&P Global to $290.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Raymond James raised their target price on shares of S&P Global from $246.00 to $272.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. UBS Group raised their target price on shares of S&P Global from $252.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Atlantic Securities lowered shares of S&P Global from an “overweight” rating to a “neutral” rating and raised their target price for the company from $220.00 to $260.00 in a research note on Tuesday, August 6th. Finally, Morgan Stanley raised their target price on shares of 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. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. S&P Global presently has an average rating of “Buy” and a consensus target price of $252.23.

NYSE SPGI traded up $4.23 during midday trading on Thursday, hitting $252.84. The company had a trading volume of 34,184 shares, compared to its average volume of 1,270,205. The company has a debt-to-equity ratio of 7.52, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $62.60 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.76 and a beta of 1.08. The stock has a fifty day moving average of $242.21. S&P Global has a fifty-two week low of $156.68 and a fifty-two week high of $262.83.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.15. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.65 billion. S&P Global had a net margin of 31.02% and a return on equity of 341.54%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $2.17 EPS. As a group, research analysts anticipate that S&P Global will post 9.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.28 annualized dividend and a yield of 0.90%. S&P Global’s dividend payout ratio is 26.82%.

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).

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