According to a filing with the Securities and Exchange Commission, Marcum Wealth LLC has reduced its holdings in S&P Global Inc. (NYSE:SPGI) by 49.7% during the second quarter of this year. The company now owns 1,050 shares of the business services provider’s stock, having sold 1,036 shares during this period. These holdings were valued at $421,000 at the end of the quarter.
S&P Global recently reported its quarterly earnings results on July 27th. The business services provider posted earnings per share (EPS) of $3.12 for the quarter, meeting analysts’ consensus estimates. S&P Global recorded a return on equity of 10.45% and a net margin of 19.46%. Its revenue for the quarter amounted to $3.10 billion, surpassing analyst estimates of $3.05 billion. In comparison to the same quarter last year, the company’s revenue increased by 3.6%. Equities analysts anticipate that S&P Global Inc. will report EPS of 12.51 for this fiscal year.
Multiple equities analysts have shared their opinions on SPGI shares recently. StockNews.com initiated coverage on S&P Global and assigned it a “hold” rating in a research note issued on August 17th. Bank of America also began covering S&P Global and provided a “buy” rating on June 15th. Robert W. Baird lowered their price target from $460.00 to $4510 and gave S&P Global an “outperform” rating in a research note released on July 28th.
Moreover, TheStreet downgraded S&P Global from a “b” rating to a “c+” rating in another research note published on July 27th.Wolfe Research initiated coverage on S&P Global, providing an “outperform” rating and setting a price target of $453 for the stock on September 14th. Out of all the analysts covering the stock, only one has given it a hold rating, while seventeen have issued a buy rating. Bloomberg reports that S&P Global currently has an average rating of “Moderate Buy” and a consensus price target of $404.
It is important to note that this article was written on September 22nd, 2023. Therefore, the information provided may not reflect any recent developments or changes in S&P Global’s performance or ratings.
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S&P Global Gains Attention from Institutional Investors and Insiders
In a surprising turn of events, several institutional investors and hedge funds have made notable changes to their positions in S&P Global, a leading business services provider. One such investor, Exos TFP Holdings LLC, purchased a new stake in the company’s shares during the fourth quarter. The investment amounted to $26,000, highlighting the potential value seen in S&P Global.
Ridgewood Investments LLC and Resources Management Corp CT ADV also jumped on board during the first quarter by acquiring new stakes worth $28,000 each. These moves further indicate growing interest from major players within the financial market. Addison Advisors LLC joined the ranks as well, lifting its position in S&P Global by an impressive 74.5% during the first quarter. This move resulted in ownership of 89 shares valued at $31,000 after an additional purchase of 38 shares.
Not to be outdone, Pacifica Partners Inc. took bold action during the same quarter by increasing their investment by 76.4%. They now hold 97 shares worth $33,000 after acquiring an additional 42 shares. Altogether, institutional investors currently own approximately 85.50% of S&P Global’s stock.
Meanwhile, on August 28th insider Saugata Saha made headlines with his sale of 200 shares of S&P Global stock at an average price of $390.13 per share. This transaction generated a total sum of $78,026. Following this sale, Saha now holds 934 shares valued at $364,381.42- a figure that underscores continued confidence in the company.
Another insider involved in significant trading activity is Adam Jason Kansler who sold 10,000 shares at an average price of $387.38 per share on August 11th for a total value of $3,873,800. After this sale concluded,Kansler retains direct ownership of 20,961 shares, valued at $8,119,872.18.
In light of these recent developments, it is essential to examine S&P Global’s stock performance. The opening price on Friday stood at $372.14 per share, falling within a 52-week trading range of $279.32 to $428.65. The market capitalization of the company currently stands at an impressive $118.41 billion.
Analyzing the company’s financial indicators provides further insight into its standing within the industry. With a price-to-earnings ratio of 51.40 and a PEG ratio of 2.40, S&P Global demonstrates strong fundamentals that can attract investors seeking long-term growth opportunities. Furthermore, the company enjoys a beta value of 1.12, highlighting its relative stability when compared to the broader market.
Interestingly, S&P Global has maintained a healthy debt-to-equity ratio of 0.30 – an encouraging sign for investors concerned about a company’s financial health during uncertain times. Both its quick ratio and current ratio measure at 0.78 each, indicating reliable liquidity for operational needs.
Considering all these factors and recent trade activity by insiders and institutional investors alike, it becomes clear that S&P Global continues to draw significant interest within the financial market landscape. It remains to be seen how these developments will impact the future trajectory of this formidable business services provider in the months ahead.
