California Public Employees Retirement System lowered its stake in shares of MSCI Inc. (NYSE:MSCI) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 180,130 shares of the technology company’s stock after selling 4,374 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of MSCI worth $96,024,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of MSCI. Quadrant Capital Group LLC grew its position in MSCI by 8.9% during the first quarter. Quadrant Capital Group LLC now owns 329 shares of the technology company’s stock valued at $138,000 after buying an additional 27 shares during the period. Y Intercept Hong Kong Ltd bought a new position in MSCI during the first quarter valued at about $347,000. Ensign Peak Advisors Inc boosted its position in MSCI by 10.4% during the first quarter. Ensign Peak Advisors Inc now owns 11,279 shares of the technology company’s stock worth $4,729,000 after purchasing an additional 1,063 shares during the period. Prudential Financial Inc. boosted its position in MSCI by 19.2% during the first quarter. Prudential Financial Inc. now owns 77,132 shares of the technology company’s stock worth $32,339,000 after purchasing an additional 12,429 shares during the period. Finally, Cresset Asset Management LLC bought a new position in MSCI during the first quarter worth about $365,000. Institutional investors own 90.61% of the company’s stock.
A number of brokerages have recently issued reports on MSCI. Oppenheimer increased their price target on shares of MSCI from $566.00 to $626.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Morgan Stanley increased their price target on shares of MSCI from $523.00 to $570.00 and gave the stock an “equal weight” rating in a report on Thursday, September 23rd. Royal Bank of Canada increased their price target on shares of MSCI from $650.00 to $720.00 and gave the stock an “outperform” rating in a report on Tuesday, September 21st. Barclays raised their target price on shares of MSCI from $545.00 to $700.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of MSCI from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Tuesday, August 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, MSCI presently has a consensus rating of “Buy” and a consensus price target of $621.43.
MSCI (NYSE:MSCI) last issued its earnings results on Tuesday, July 27th. The technology company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. MSCI had a negative return on equity of 180.78% and a net margin of 37.97%. The business had revenue of $498.20 million during the quarter, compared to analyst estimates of $490.25 million. During the same quarter in the previous year, the firm earned $1.77 EPS. MSCI’s revenue was up 21.6% on a year-over-year basis. As a group, equities analysts anticipate that MSCI Inc. will post 9.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Friday, August 13th were paid a dividend of $1.04 per share. This is an increase from MSCI’s previous quarterly dividend of $0.78. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Thursday, August 12th. MSCI’s payout ratio is currently 53.13%.
In related news, insider Jennifer H. Mak sold 300 shares of the stock in a transaction on Friday, August 6th. The stock was sold at an average price of $622.38, for a total transaction of $186,714.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Cd Baer Pettit sold 2,500 shares of the stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $622.95, for a total value of $1,557,375.00. Following the sale, the chief operating officer now owns 251,837 shares in the company, valued at approximately $156,881,859.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,300 shares of company stock valued at $3,254,214. 2.93% of the stock is currently owned by corporate insiders.
MSCI, Inc engages in the provision of investment decision support tools including indices, portfolio risk and performance analytics and corporate governance products and services. The company operates through the following business segments: Index, Analytics, Environmental, Social, and Governance (ESG), Real Estate, and Burgiss.
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