State of Michigan Retirement System Buys 9,989 Shares of IHS Markit Ltd (NYSE:INFO)

State of Michigan Retirement System increased its stake in shares of IHS Markit Ltd (NYSE:INFO) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,889 shares of the business services provider’s stock after purchasing an additional 9,989 shares during the quarter. State of Michigan Retirement System’s holdings in IHS Markit were worth $7,693,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cognios Capital LLC acquired a new position in shares of IHS Markit in the first quarter valued at approximately $28,000. Valeo Financial Advisors LLC raised its stake in shares of IHS Markit by 465.6% during the first quarter. Valeo Financial Advisors LLC now owns 724 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 596 shares during the last quarter. AIA Investment Management Private Ltd bought a new position in shares of IHS Markit during the first quarter valued at $48,000. Flagship Harbor Advisors LLC lifted its holdings in shares of IHS Markit by 58.4% during the first quarter. Flagship Harbor Advisors LLC now owns 1,014 shares of the business services provider’s stock worth $61,000 after purchasing an additional 374 shares during the period. Finally, Ellevest Inc. grew its stake in shares of IHS Markit by 27.9% in the first quarter. Ellevest Inc. now owns 1,264 shares of the business services provider’s stock worth $76,000 after purchasing an additional 276 shares during the last quarter. 88.33% of the stock is owned by institutional investors and hedge funds.

INFO stock opened at $80.73 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50-day moving average is $75.51 and its 200-day moving average is $71.02. The stock has a market capitalization of $34.07 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 3.02 and a beta of 0.94. IHS Markit Ltd has a 1 year low of $44.81 and a 1 year high of $81.65.

IHS Markit (NYSE:INFO) last announced its quarterly earnings results on Tuesday, June 23rd. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.05 billion. IHS Markit had a return on equity of 10.73% and a net margin of 18.43%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, analysts anticipate that IHS Markit Ltd will post 2.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.68 dividend on an annualized basis and a yield of 0.84%. IHS Markit’s dividend payout ratio (DPR) is presently 32.54%.

In related news, EVP Adam Jason Kansler sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $67.75, for a total value of $6,775,000.00. Following the transaction, the executive vice president now owns 166,680 shares of the company’s stock, valued at approximately $11,292,570. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Sari Beth Granat sold 60,000 shares of IHS Markit stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $80.00, for a total value of $4,800,000.00. Following the transaction, the executive vice president now owns 109,898 shares of the company’s stock, valued at approximately $8,791,840. The disclosure for this sale can be found here. Insiders have sold a total of 200,500 shares of company stock valued at $14,632,750 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

INFO has been the topic of several recent research reports. Credit Suisse Group began coverage on IHS Markit in a report on Monday, July 27th. They set a “buy” rating and a $30.00 target price on the stock. Robert W. Baird lifted their price objective on IHS Markit from $69.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. UBS Group raised shares of IHS Markit from a “neutral” rating to a “buy” rating and increased their target price for the company from $63.00 to $85.00 in a research report on Wednesday, June 24th. BMO Capital Markets boosted their price target on shares of IHS Markit from $62.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 24th. Finally, Morgan Stanley upped their price objective on shares of IHS Markit from $70.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 24th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $78.06.

IHS Markit Profile

IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets that drive economies worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government.

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Institutional Ownership by Quarter for IHS Markit (NYSE:INFO)

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