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

S&P Global Inc. (NYSE:SPGI) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 4,450,000 shares, a growth of 24.6% from the October 15th total of 3,570,000 shares. Based on an average trading volume of 1,110,000 shares, the short-interest ratio is currently 4.0 days.

S&P Global Trading Down 1.4 %

Shares of SPGI stock traded down $7.35 during trading hours on Friday, reaching $503.29. The company had a trading volume of 1,187,616 shares, compared to its average volume of 1,345,519. The company has a 50 day moving average of $510.47 and a 200 day moving average of $479.18. The firm has a market cap of $156.17 billion, a price-to-earnings ratio of 44.42, a P/E/G ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global has a 1-year low of $401.79 and a 1-year high of $533.29.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm posted $3.21 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that S&P Global will post 15.24 EPS for the current year.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is presently 32.13%.

Hedge Funds Weigh In On S&P Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in S&P Global by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,473,774 shares of the business services provider’s stock valued at $3,332,016,000 after purchasing an additional 113,146 shares during the period. Brophy Wealth Management LLC acquired a new position in shares of S&P Global during the third quarter worth approximately $1,155,000. Continuum Advisory LLC raised its holdings in S&P Global by 1.3% during the third quarter. Continuum Advisory LLC now owns 1,544 shares of the business services provider’s stock worth $788,000 after buying an additional 20 shares during the last quarter. LRI Investments LLC lifted its position in S&P Global by 69,852.0% in the 3rd quarter. LRI Investments LLC now owns 17,488 shares of the business services provider’s stock valued at $9,035,000 after acquiring an additional 17,463 shares in the last quarter. Finally, PYA Waltman Capital LLC lifted its holdings in shares of S&P Global by 0.8% in the third quarter. PYA Waltman Capital LLC now owns 22,716 shares of the business services provider’s stock valued at $11,736,000 after purchasing an additional 171 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada raised their price target on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Evercore ISI started coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price objective on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $571.31.

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 through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.