Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. S&P Global Inc. shares valued at $2,703,906 were sold by Peterson Douglas L. on Feb 15. At $360.52 per share, Peterson Douglas L. sold 7,500 shares. The insider’s holdings dropped to 160,816 shares worth approximately $55.98 million following the completion of this transaction.
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Also, Saha Saugata sold 750 shares, netting a total of over 274,000 in proceeds. Following the sale of shares at $365.33 each, the insider now holds 2,587 shares.
Before that, Saha Saugata had sold 750 shares from its account. In a trade valued at $277,099, the President, Commodity Insights traded S&P Global Inc. shares for $369.47 each. Upon closing the transaction, the insider’s holdings decreased to 750 shares, worth approximately $1.16 million.
As published in a research note from Atlantic Equities on November 07, 2022, S&P Global Inc. [SPGI] has been rated up from a Neutral to an Overweight and the price target has been revised to $386 from $356. This represents a 9.81% premium over Thursday’s closing price. As of May 17, 2022, Redburn has initiated its “Buy” rating for SPGI. Earlier on March 30, 2022, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for SPGI stock.
Analyzing SPGI Stock Performance
On Thursday, S&P Global Inc. [NYSE: SPGI] rose 0.56% to $348.13. The stock’s lowest price that day was $344.59, but it reached a high of $350.67 in the same session. During the last five days, there has been a drop of approximately -5.29%. Over the course of the year, S&P Global Inc. shares have jumped approximately 3.94%. Shares of the company reached a 52-week high of $388.42 on 02/02/23 and a 52-week low of $332.14 on 01/03/23. A 50-day SMA is recorded $355.86, while a 200-day SMA reached $345.56. Nevertheless, trading volume fell to 1.25 million shares from 1.21 million shares the previous day.
Support And Resistance Levels for S&P Global Inc. (SPGI)
According to the 24-hour chart, there is a support level at 344.92, which, if violated, would cause prices to drop to 341.72. In the upper region, resistance lies at 351.00. The next price resistance is at 353.88. RSI (Relative Strength Index) is 39.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -13.97, which suggests the price will decrease in the coming days. Percent R is at 88.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is S&P Global Inc. subject to short interest?
Stocks of S&P Global Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.66 million shares to 3.36 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 4.02 million shares. A decline of -19.64% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.34 of the overall float, the days-to-cover ratio (short ratio) decline to 2.34.
Which companies own the most shares of S&P Global Inc. (SPGI)?
According to The Vanguard Group, Inc. filings, the company currently owns 27,570,845 shares, which is about 8.46% of the total SPGI shares outstanding. The investor’s shares have plunged by -306,613 from its previous 13-F filing of 27877458.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $5,626,973,540. BlackRock Fund Advisors reduced a -16.01% interest valued at $5.46 billion while TCI Fund Management Ltd. purchased a 416,252 stake. A total of -61,803 shares of S&P Global Inc. were bought by Geode Capital Management LLC during the quarter, and -1,377,039 were sold by Wellington Management Co. LLP. In its current portfolio, JPMorgan Investment Management, I holds 5,278,792 shares valued at $1.98 billion.
In terms of S&P Global Inc. share price expectations, FactSet research, analysts set an average price target of $404.71 in the next 12 months, up nearly 16.41% from the previous closing price of $346.20. Analysts anticipate S&P Global Inc. stock to reach $434.00 by 2023, with the lowest price target being $340.00. In spite of this, 22 analysts ranked S&P Global Inc. stock as a Buy at the end of 2023. On March 24, 2022, Credit Suisse assigned a price target of “an Outperform” to the stock and resumed coverage with a $495.