Investors Buy Shares of S&P Global (SPGI) on Weakness

Traders bought shares of S&P Global Inc (NYSE:SPGI) on weakness during trading on Thursday. $61.10 million flowed into the stock on the tick-up and $42.69 million flowed out of the stock on the tick-down, for a money net flow of $18.41 million into the stock. Of all stocks tracked, S&P Global had the 29th highest net in-flow for the day. S&P Global traded down ($1.25) for the day and closed at $204.03

A number of research firms recently issued reports on SPGI. Zacks Investment Research downgraded S&P Global from a “hold” rating to a “sell” rating in a research note on Wednesday. UBS Group dropped their price target on S&P Global from $242.00 to $241.00 and set a “buy” rating on the stock in a research note on Friday, September 21st. Atlantic Securities downgraded S&P Global from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 1st. Morgan Stanley raised their price target on S&P Global from $217.00 to $219.00 and gave the stock an “equal weight” rating in a research note on Friday, July 27th. Finally, BMO Capital Markets raised their price target on S&P Global from $209.00 to $214.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. S&P Global currently has an average rating of “Hold” and an average price target of $206.93.

The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 5.75. The stock has a market capitalization of $52.02 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 1.94 and a beta of 1.22.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, July 26th. The business services provider reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. S&P Global had a return on equity of 333.87% and a net margin of 25.95%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the firm earned $1.72 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts predict that S&P Global Inc will post 8.53 EPS for the current year.

In other news, SVP Nancy Luquette sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $203.35, for a total value of $71,172.50. Following the completion of the sale, the senior vice president now directly owns 531 shares of the company’s stock, valued at approximately $107,978.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas L. Peterson sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $201.27, for a total value of $805,080.00. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SPGI. Gulf International Bank UK Ltd raised its holdings in S&P Global by 0.3% during the second quarter. Gulf International Bank UK Ltd now owns 80,871 shares of the business services provider’s stock worth $16,488,000 after purchasing an additional 250 shares during the last quarter. IFP Advisors Inc raised its holdings in S&P Global by 10.8% during the second quarter. IFP Advisors Inc now owns 2,676 shares of the business services provider’s stock worth $546,000 after purchasing an additional 261 shares during the last quarter. BB&T Securities LLC raised its holdings in S&P Global by 6.0% during the second quarter. BB&T Securities LLC now owns 5,252 shares of the business services provider’s stock worth $1,071,000 after purchasing an additional 298 shares during the last quarter. Intrust Bank NA raised its holdings in S&P Global by 9.0% during the second quarter. Intrust Bank NA now owns 3,611 shares of the business services provider’s stock worth $736,000 after purchasing an additional 299 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in S&P Global by 3.0% during the first quarter. Thrivent Financial for Lutherans now owns 10,642 shares of the business services provider’s stock worth $2,033,000 after purchasing an additional 308 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

About S&P Global (NYSE:SPGI)

S&P Global Inc provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through three segments: Ratings, Market and Commodities Intelligence, and S&P Dow Jones Indices. The Ratings segment provides credit ratings, research, and analytics to investors, issuers, and other market participants.

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