Stock Traders Buy High Volume of Call Options on S&P Global (SPGI)
S&P Global Inc. (NYSE:SPGI) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 3,330 call options on the company. This represents an increase of 1,557% compared to the average daily volume of 201 call options.
In other news, EVP Courtney Geduldig sold 1,404 shares of S&P Global stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $159.38, for a total transaction of $223,769.52. Following the completion of the transaction, the executive vice president now directly owns 1,259 shares in the company, valued at $200,659.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas L. Peterson sold 4,000 shares of S&P Global stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $157.79, for a total transaction of $631,160.00. Following the transaction, the chief executive officer now owns 140,743 shares of the company’s stock, valued at $22,207,837.97. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $1,104,704 over the last quarter. Corporate insiders own 0.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SPGI. BlackRock Inc. raised its position in S&P Global by 11.3% in the second quarter. BlackRock Inc. now owns 17,197,188 shares of the business services provider’s stock worth $2,510,617,000 after acquiring an additional 1,744,482 shares during the period. Janus Henderson Group PLC raised its position in S&P Global by 4,882.5% in the second quarter. Janus Henderson Group PLC now owns 1,745,016 shares of the business services provider’s stock worth $254,755,000 after acquiring an additional 1,709,993 shares during the period. AJO LP bought a new stake in S&P Global in the second quarter worth about $130,724,000. Alliancebernstein L.P. raised its position in S&P Global by 61.6% in the second quarter. Alliancebernstein L.P. now owns 1,837,354 shares of the business services provider’s stock worth $268,235,000 after acquiring an additional 700,194 shares during the period. Finally, American Century Companies Inc. raised its position in S&P Global by 109.6% in the third quarter. American Century Companies Inc. now owns 1,182,826 shares of the business services provider’s stock worth $184,888,000 after acquiring an additional 618,411 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.19. S&P Global had a net margin of 30.15% and a return on equity of 187.30%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. analysts predict that S&P Global will post 6.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 0.99%. The ex-dividend date is Monday, November 27th. S&P Global’s dividend payout ratio is 24.08%.
A number of brokerages have recently issued reports on SPGI. Zacks Investment Research upgraded shares of S&P Global from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a report on Monday, August 14th. Cantor Fitzgerald restated a “buy” rating and set a $177.00 price target on shares of S&P Global in a report on Thursday, October 26th. BidaskClub cut shares of S&P Global from a “strong-buy” rating to a “buy” rating in a report on Friday, October 20th. Wells Fargo & Company boosted their price target on shares of S&P Global from $159.00 to $165.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Finally, UBS boosted their price target on shares of S&P Global from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $168.27.
About S&P Global
S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
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