Parnassus Investments LLC Decreases Holdings in S&P Global Inc. (NYSE:SPGI)

Parnassus Investments LLC reduced its stake in S&P Global Inc. (NYSE:SPGI) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,358,012 shares of the business services provider’s stock after selling 22,655 shares during the period. S&P Global comprises 2.6% of Parnassus Investments LLC’s investment portfolio, making the stock its 11th largest position. Parnassus Investments LLC owned 0.76% of S&P Global worth $1,218,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. HWG Holdings LP purchased a new position in S&P Global in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in S&P Global in the 3rd quarter worth approximately $27,000. Sachetta LLC increased its stake in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after purchasing an additional 30 shares during the period. First Personal Financial Services purchased a new position in S&P Global in the 3rd quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in S&P Global in the 2nd quarter worth approximately $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Trading Down 0.1 %

NYSE 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. S&P Global Inc. has a twelve month low of $407.53 and a twelve month high of $533.29. The firm has a market capitalization of $156.08 billion, a PE ratio of 44.40, a P/E/G ratio of 2.57 and a beta of 1.18. The stock’s 50 day moving average is $510.21 and its 200 day moving average is $480.23.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.25. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the previous year, the company posted $3.21 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Research analysts forecast that S&P Global Inc. will post 15.24 earnings per share for the current fiscal year.

S&P Global Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Evercore ISI started coverage on S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price target on the stock. Stifel Nicolaus boosted their target price on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, October 28th. UBS Group boosted their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their target price on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer boosted their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $571.31.

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.