S&P Global Inc. (NYSE:SPGI) Short Interest Down 16.0% in December

S&P Global Inc. (NYSE:SPGI) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 2,790,000 shares, a decrease of 16.0% from the December 15th total of 3,320,000 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Investors Weigh In On S&P Global

A number of institutional investors have recently modified their holdings of SPGI. International Assets Investment Management LLC boosted its position in S&P Global by 174,815.4% during the third quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after acquiring an additional 466,757 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of S&P Global during the 3rd quarter valued at about $224,976,000. FMR LLC grew its stake in S&P Global by 6.6% during the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock worth $3,081,830,000 after purchasing an additional 369,598 shares during the period. Ameriprise Financial Inc. increased its holdings in S&P Global by 13.5% in the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after purchasing an additional 298,645 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in S&P Global by 3.4% in the third quarter. Wellington Management Group LLP now owns 8,868,375 shares of the business services provider’s stock valued at $4,581,580,000 after buying an additional 292,436 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPGI has been the topic of several recent analyst reports. Robert W. Baird raised their target price on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Evercore ISI started coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective for the company. Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Stifel Nicolaus upped their price objective on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Morgan Stanley lifted their target price on S&P Global from $570.00 to $595.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $583.62.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $504.95 on Friday. The firm has a market cap of $156.69 billion, a PE ratio of 44.57, a price-to-earnings-growth ratio of 2.22 and a beta of 1.20. S&P Global has a 52 week low of $407.69 and a 52 week high of $533.29. The firm’s fifty day moving average is $504.61 and its 200-day moving average is $500.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.25. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.21 earnings per share. Sell-side analysts predict that S&P Global will post 15.25 earnings per share for the current year.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.