Parnassus Investments LLC Sells 22,655 Shares of S&P Global Inc. (NYSE:SPGI)

Parnassus Investments LLC trimmed its stake in S&P Global Inc. (NYSE:SPGI) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,358,012 shares of the business services provider’s stock after selling 22,655 shares during the quarter. S&P Global accounts for 2.6% of Parnassus Investments LLC’s portfolio, making the stock its 11th biggest holding. Parnassus Investments LLC’s holdings in S&P Global were worth $1,218,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SPGI. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of S&P Global during the third quarter valued at $224,976,000. Banque Cantonale Vaudoise lifted its holdings in shares of S&P Global by 45.3% during the third quarter. Banque Cantonale Vaudoise now owns 14,104 shares of the business services provider’s stock valued at $7,286,000 after purchasing an additional 4,395 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of S&P Global by 2.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,967 shares of the business services provider’s stock valued at $2,050,000 after purchasing an additional 100 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of S&P Global by 2.2% during the third quarter. Pathstone Holdings LLC now owns 54,543 shares of the business services provider’s stock valued at $28,178,000 after purchasing an additional 1,151 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in shares of S&P Global by 6.3% during the third quarter. Baron Wealth Management LLC now owns 1,988 shares of the business services provider’s stock valued at $1,027,000 after purchasing an additional 117 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SPGI shares. JPMorgan Chase & Co. lowered their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Evercore ISI began coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective for the company. Morgan Stanley upped their price objective on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. UBS Group upped their price objective on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $571.31.

S&P Global Stock Performance

Shares of SPGI opened at $503.00 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $510.21 and a two-hundred day simple moving average of $480.23. The stock has a market cap of $156.08 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 2.57 and a beta of 1.18. S&P Global Inc. has a 52 week low of $407.53 and a 52 week high of $533.29.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 earnings per share. On average, analysts expect that S&P Global Inc. will post 15.24 EPS for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is 32.13%.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.