S&P Global Inc. (NYSE:SPGI – Get Rating) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 9,770,000 shares, a decrease of 23.5% from the August 15th total of 12,770,000 shares. Based on an average trading volume of 1,880,000 shares, the days-to-cover ratio is currently 5.2 days.
Insider Activity
In other news, insider John L. Berisford sold 13,450 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $370.59, for a total value of $4,984,435.50. Following the transaction, the insider now owns 24,430 shares in the company, valued at approximately $9,053,513.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Martina Cheung sold 3,000 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $385.78, for a total value of $1,157,340.00. Following the transaction, the insider now owns 6,783 shares in the company, valued at approximately $2,616,745.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John L. Berisford sold 13,450 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $370.59, for a total value of $4,984,435.50. Following the transaction, the insider now owns 24,430 shares in the company, valued at approximately $9,053,513.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,150 shares of company stock worth $10,146,219. 0.10% of the stock is currently owned by insiders.
Institutional Investors Weigh In On S&P Global
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A number of hedge funds and other institutional investors have recently made changes to their positions in SPGI. Cooper Financial Group grew its position in S&P Global by 2.3% during the first quarter. Cooper Financial Group now owns 1,136 shares of the business services provider’s stock valued at $466,000 after acquiring an additional 26 shares during the period. Rain Capital Management LLC lifted its stake in shares of S&P Global by 38.2% during the second quarter. Rain Capital Management LLC now owns 94 shares of the business services provider’s stock worth $32,000 after purchasing an additional 26 shares in the last quarter. Cordasco Financial Network lifted its stake in shares of S&P Global by 32.2% during the first quarter. Cordasco Financial Network now owns 119 shares of the business services provider’s stock worth $49,000 after purchasing an additional 29 shares in the last quarter. Country Trust Bank lifted its stake in shares of S&P Global by 8.5% during the first quarter. Country Trust Bank now owns 370 shares of the business services provider’s stock worth $152,000 after purchasing an additional 29 shares in the last quarter. Finally, Hendershot Investments Inc. lifted its stake in shares of S&P Global by 6.2% during the first quarter. Hendershot Investments Inc. now owns 499 shares of the business services provider’s stock worth $205,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 88.15% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on SPGI shares. Barclays reduced their price target on S&P Global from $450.00 to $385.00 and set an “overweight” rating for the company in a report on Friday, June 3rd. Atlantic Securities reduced their price target on S&P Global from $440.00 to $375.00 and set a “neutral” rating for the company in a report on Wednesday, June 8th. BMO Capital Markets reduced their price target on S&P Global from $433.00 to $365.00 in a report on Thursday, June 2nd. Morgan Stanley reduced their price target on S&P Global from $398.00 to $390.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Finally, Jefferies Financial Group reduced their price target on S&P Global from $440.00 to $416.00 and set a “buy” rating for the company in a report on Thursday, June 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $416.43.
S&P Global Price Performance
S&P Global stock traded down $4.10 during mid-day trading on Thursday, hitting $347.06. 1,980,103 shares of the company were exchanged, compared to its average volume of 2,251,073. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.26 and a quick ratio of 1.26. The business’s 50 day simple moving average is $365.93 and its two-hundred day simple moving average is $366.90. The company has a market capitalization of $115.74 billion, a P/E ratio of 25.86, a PEG ratio of 2.59 and a beta of 1.05. S&P Global has a 12-month low of $311.87 and a 12-month high of $484.21.
S&P Global (NYSE:SPGI – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The business services provider reported $2.81 earnings per share for the quarter, missing the consensus estimate of $2.91 by ($0.10). The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3 billion. S&P Global had a return on equity of 17.22% and a net margin of 38.49%. The business’s quarterly revenue was up 42.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.62 EPS. Analysts forecast that S&P Global will post 11.49 earnings per share for the current fiscal year.
S&P Global Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 26th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, August 25th. S&P Global’s dividend payout ratio is currently 25.34%.
S&P Global Company Profile
S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.
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