Some people may not know this, but S&P (Standard & Poors) was bought by publishing giant McGraw Hill and the business eventually changed its name to S&P Global Inc.Today, S&P Global has carved out a dominant position in its niche. It offers market research, index data, market intelligence, and ratings to clients in more than 31 countries. The company owns valuable brands like Platts, CapitalIQ, and Standard & Poors. S&P Global has experienced significant growth over the past 10 years. Its net income has risen from $911 million in 2011 to about $2.34 billion in 2020. Investors looking for top financial stocks to buy in 2021 with strong growth potential can consider S&P Global as one option. The company continues to achieve high gross margins of 70% while also increasing its dividend every year in the past 10 years.
Price Action Of S&P Global Inc
S&P Global’s stock has been in a long-term uptrend. It has been making higher highs and higher lows for over 10 years. The major pullbacks happened in 2013, 2016, 2018, and March 2020. The most recent pullback was one of the most severe as prices dropped 40%. The price broke out of the last known resistance level at $399 in late June 2021 and is trading at an all-time high in June-end 2021. Momentum portfolios could do well by including the S&P Global given the rate of change in the price of the stock over the past 6 months and 1 year. Value investors may find the P/E ratio of 40 a bit high. But, given the leadership position of the company, its long-term growth prospects look bright. Investors interested in preparing a list of financial stocks to buy 2021 may want to include S&P Global in it.
Top Financial Stocks To Buy In 2021
S&P has been around since the late 19th century. It has a very long track record of providing market data and research to the financial services industry. Such a track record is important given that vital investment decisions are made based on the data provided by the likes of S&P Global Inc.