Parnassus Investments LLC Lowers Position in S&P Global Inc. $SPGI

Parnassus Investments LLC lowered its holdings in S&P Global Inc. (NYSE:SPGI) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,032,254 shares of the business services provider’s stock after selling 4,423 shares during the period. S&P Global makes up 2.3% of Parnassus Investments LLC’s investment portfolio, making the stock its 15th largest position. Parnassus Investments LLC owned about 0.67% of S&P Global worth $989,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SPGI. Oliver Lagore Vanvalin Investment Group bought a new position in shares of S&P Global during the second quarter valued at about $26,000. MTM Investment Management LLC bought a new position in S&P Global during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its position in S&P Global by 103.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 61 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. eCIO Inc. purchased a new stake in shares of S&P Global during the first quarter valued at approximately $32,000. Finally, Spurstone Advisory Services LLC bought a new position in shares of S&P Global in the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

SPGI has been the subject of several analyst reports. Seaport Res Ptn raised shares of S&P Global to a “strong-buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of S&P Global in a report on Monday, December 29th. The Goldman Sachs Group restated a “buy” rating and set a $640.00 price target on shares of S&P Global in a report on Tuesday, December 16th. JPMorgan Chase & Co. lowered their price target on S&P Global from $635.00 to $615.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, Citigroup lifted their price objective on S&P Global from $600.00 to $635.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. According to MarketBeat.com, S&P Global currently has a consensus rating of “Buy” and a consensus target price of $615.14.

S&P Global Stock Performance

Shares of SPGI opened at $542.34 on Friday. The company has a 50-day simple moving average of $506.15 and a two-hundred day simple moving average of $516.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $164.22 billion, a PE ratio of 39.44, a price-to-earnings-growth ratio of 2.31 and a beta of 1.21. S&P Global Inc. has a one year low of $427.14 and a one year high of $579.05.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Monday, February 28th. The business services provider reported $2.33 earnings per share for the quarter. The company had revenue of $1.87 billion for the quarter. S&P Global had a return on equity of 15.90% and a net margin of 28.10%.S&P Global has set its FY 2025 guidance at 14.800-15.050 EPS. On average, analysts anticipate that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Profile

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.