Parnassus Investments LLC Sells 122,736 Shares of S&P Global Inc. $SPGI

Key Points

• Parnassus Investments LLC has decreased its stake in S&P Global Inc. by 5.5% during the 1st quarter, selling 122,736 shares and holding 2,105,041 shares post-sale.
• S&P Global recently reported earnings of $4.43 per share, exceeding expectations, and has set FY 2025 EPS guidance at 17.000-17.250.
• The company declared a quarterly dividend of $0.96, representing a yield of 0.7%, with the ex-dividend date set for August 26th.

Parnassus Investments LLC decreased its stake in S&P Global Inc. (NYSE:SPGI - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,105,041 shares of the business services provider's stock after selling 122,736 shares during the quarter. S&P Global makes up about 2.6% of Parnassus Investments LLC's investment portfolio, making the stock its 10th largest position. Parnassus Investments LLC owned 0.69% of S&P Global worth $1,069,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of SPGI. Nuveen LLC acquired a new stake in S&P Global in the 1st quarter valued at $1,103,665,000. GAMMA Investing LLC boosted its stake in S&P Global by 60,982.3% in the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider's stock valued at $1,086,877,000 after buying an additional 2,135,599 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in S&P Global by 70.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,627,276 shares of the business services provider's stock valued at $826,819,000 after buying an additional 670,392 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in S&P Global by 26.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,947,239 shares of the business services provider's stock worth $1,497,493,000 after purchasing an additional 614,809 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in S&P Global in the fourth quarter worth $238,503,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company boosted their price objective on S&P Global from $632.00 to $660.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Oppenheimer boosted their price objective on S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Argus raised S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. Finally, Morgan Stanley boosted their price objective on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $611.69.

S&P Global Trading Down 0.4%

Shares of SPGI opened at $547.67 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. S&P Global Inc. has a 12-month low of $427.14 and a 12-month high of $579.05. The firm has a market capitalization of $167.20 billion, a PE ratio of 42.13, a price-to-earnings-growth ratio of 2.94 and a beta of 1.19. The stock's fifty day simple moving average is $538.10 and its 200-day simple moving average is $514.72.

S&P Global (NYSE:SPGI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.25. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the firm posted $4.04 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. As a group, research analysts predict that S&P Global Inc. will post 17.11 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 26th. S&P Global's dividend payout ratio is currently 29.54%.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.

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