Parnassus Investments LLC Cuts Stake in S&P Global Inc. (NYSE:SPGI)

Parnassus Investments LLC cut its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,358,012 shares of the business services provider's stock after selling 22,655 shares during the quarter. S&P Global comprises about 2.6% of Parnassus Investments LLC's portfolio, making the stock its 11th biggest position. Parnassus Investments LLC owned approximately 0.76% of S&P Global worth $1,218,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. HWG Holdings LP purchased a new position in shares of S&P Global in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new position in shares of S&P Global in the 3rd quarter valued at $27,000. Sachetta LLC grew its stake in S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider's stock worth $29,000 after buying an additional 30 shares during the last quarter. First Personal Financial Services purchased a new position in S&P Global during the 3rd quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in S&P Global during the 2nd quarter worth $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Stock Down 0.1 %

Shares of NYSE SPGI traded down $0.69 during mid-day trading on Tuesday, hitting $502.31. The company had a trading volume of 1,224,032 shares, compared to its average volume of 1,210,792. The company has a market capitalization of $155.87 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The business's 50-day simple moving average is $510.21 and its 200 day simple moving average is $480.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global Inc. has a 1-year low of $407.53 and a 1-year high of $533.29.

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

S&P Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.91 per share. 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 is presently 32.13%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SPGI shares. Robert W. Baird boosted their target price on S&P Global from $536.00 to $575.00 and gave the stock an "outperform" 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 stock an "overweight" rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their target price on S&P Global from $500.00 to $552.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their target price on S&P Global from $540.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Finally, Oppenheimer lifted their price target on S&P Global from $540.00 to $590.00 and gave the stock an "outperform" rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, S&P Global presently has an average rating of "Moderate Buy" and a consensus target price of $571.31.

S&P Global 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.