S&P Global Inc (NYSE:SPGI) Sees Large Decrease in Short Interest

S&P Global Inc (NYSE:SPGI) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 2,982,000 shares, a decrease of 7.9% from the May 30th total of 3,238,100 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is currently 3.0 days.

SPGI has been the topic of several research reports. UBS Group upped their price target on Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Jaffray Companies set a $16.00 price target on WPX Energy and gave the company a “buy” rating in a research report on Friday, April 5th. Zacks Investment Research lowered GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. Morgan Stanley upped their price target on Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on Diageo and gave the company a “neutral” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. S&P Global has a consensus rating of “Buy” and a consensus target price of $225.55.

In other news, CEO Alexander Matturri, Jr. sold 1,007 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was 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 directly owns 18,723 shares in the company, valued at approximately $4,314,528.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ewout L. Steenbergen sold 8,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $215.59, for a total value of $1,724,720.00. Following the transaction, the chief financial officer now owns 15,694 shares of the company’s stock, valued at $3,383,469.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,312 shares of company stock valued at $4,593,028. Company insiders own 0.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Granite Investment Advisors LLC grew its stake in shares of S&P Global by 0.4% in the first quarter. Granite Investment Advisors LLC now owns 13,249 shares of the business services provider’s stock worth $2,790,000 after purchasing an additional 50 shares in the last quarter. First Mercantile Trust Co. grew its stake in shares of S&P Global by 7.1% in the first quarter. First Mercantile Trust Co. now owns 781 shares of the business services provider’s stock worth $164,000 after purchasing an additional 52 shares in the last quarter. Wambolt & Associates LLC grew its stake in shares of S&P Global by 3.1% in the first quarter. Wambolt & Associates LLC now owns 1,744 shares of the business services provider’s stock worth $375,000 after purchasing an additional 53 shares in the last quarter. ETF Managers Group LLC boosted its stake in S&P Global by 7.9% during the first quarter. ETF Managers Group LLC now owns 753 shares of the business services provider’s stock valued at $159,000 after buying an additional 55 shares in the last quarter. Finally, CNB Bank boosted its stake in S&P Global by 45.9% during the first quarter. CNB Bank now owns 178 shares of the business services provider’s stock valued at $37,000 after buying an additional 56 shares in the last quarter. 82.77% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SPGI traded up $2.82 during trading hours on Friday, hitting $241.26. The company had a trading volume of 1,338,433 shares, compared to its average volume of 931,888. S&P Global has a fifty-two week low of $156.68 and a fifty-two week high of $241.29. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 11.03. The business has a fifty day moving average of $225.73. The company has a market cap of $59.40 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 1.94 and a beta of 1.08.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, May 2nd. The business services provider reported $2.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by ($0.01). S&P Global had a return on equity of 325.28% and a net margin of 29.99%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the business earned $2.00 earnings per share. S&P Global’s quarterly revenue was up .3% on a year-over-year basis. On average, equities research analysts expect that S&P Global will post 9.03 earnings per share for the current fiscal year.

The business also recently announced 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. This represents a $2.28 annualized dividend and a yield of 0.95%. The ex-dividend date is Monday, August 26th. S&P Global’s dividend payout ratio is presently 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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