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

Parnassus Investments LLC cut its position in S&P Global Inc. (NYSE:SPGI) by 0.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,032,254 shares of the business services provider’s stock after selling 4,423 shares during the quarter. S&P Global accounts for approximately 2.3% of Parnassus Investments LLC’s investment portfolio, making the stock its 15th biggest holding. Parnassus Investments LLC’s holdings in S&P Global were worth $989,118,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SPGI. Oliver Lagore Vanvalin Investment Group bought a new position in S&P Global in the 2nd quarter valued at approximately $26,000. MTM Investment Management LLC purchased a new position in shares of S&P Global in the second quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of S&P Global by 103.3% during 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 in the last quarter. eCIO Inc. bought a new stake in S&P Global in the 1st quarter worth about $32,000. Finally, Spurstone Advisory Services LLC bought a new stake in S&P Global in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Trading Up 0.1%

Shares of NYSE:SPGI opened at $542.34 on Friday. The stock has a 50 day moving average of $506.15 and a 200 day moving average of $516.42. The company has a market cap 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 12-month low of $427.14 and a 12-month high of $579.05. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34.

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

Analysts Set New Price Targets

Several research firms have issued reports on SPGI. Evercore ISI upped their target price on shares of S&P Global from $629.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group restated a “buy” rating and issued a $640.00 target price on shares of S&P Global in a report on Tuesday, December 16th. Mizuho boosted their target price on shares of S&P Global from $637.00 to $643.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of S&P Global in a report on Monday, December 29th. Finally, Wells Fargo & Company raised their price target on S&P Global from $660.00 to $661.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $615.14.

S&P Global Company 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.