Wells Fargo & Company MN raised its holdings in shares of MSCI Inc (NYSE:MSCI) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 226,553 shares of the technology company’s stock after purchasing an additional 9,404 shares during the period. Wells Fargo & Company MN owned about 0.25% of MSCI worth $23,333,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. OppenheimerFunds Inc. increased its stake in MSCI by 0.3% during the first quarter. OppenheimerFunds Inc. now owns 2,958 shares of the technology company’s stock valued at $287,000 after purchasing an additional 8 shares during the last quarter. Alps Advisors Inc. increased its stake in MSCI by 0.3% during the second quarter. Alps Advisors Inc. now owns 4,971 shares of the technology company’s stock valued at $512,000 after purchasing an additional 13 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in MSCI by 0.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,751 shares of the technology company’s stock valued at $851,000 after purchasing an additional 38 shares during the last quarter. Pacer Advisors Inc. increased its stake in MSCI by 2.9% during the first quarter. Pacer Advisors Inc. now owns 1,639 shares of the technology company’s stock valued at $159,000 after purchasing an additional 46 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in MSCI by 0.4% during the second quarter. Public Employees Retirement Association of Colorado now owns 18,289 shares of the technology company’s stock valued at $1,884,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.
In related news, COO Cd Baer Pettit sold 2,083 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $103.44, for a total value of $215,465.52. Following the completion of the transaction, the chief operating officer now directly owns 180,349 shares in the company, valued at $18,655,300.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 6,249 shares of company stock valued at $686,890 over the last 90 days. 2.26% of the stock is currently owned by corporate insiders.
MSCI Inc (NYSE MSCI) opened at 117.42 on Monday. The firm has a market cap of $10.57 billion, a P/E ratio of 38.02 and a beta of 1.03. MSCI Inc has a one year low of $76.52 and a one year high of $118.06. The stock’s 50 day moving average is $112.24 and its 200 day moving average is $103.84.
MSCI (NYSE:MSCI) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $316.08 million during the quarter, compared to analyst estimates of $314.03 million. MSCI had a return on equity of 87.11% and a net margin of 24.01%. MSCI’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. On average, equities research analysts expect that MSCI Inc will post $3.80 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Friday, August 18th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from MSCI’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, August 16th. MSCI’s dividend payout ratio is presently 49.03%.
Several analysts have weighed in on the stock. BidaskClub lowered shares of MSCI from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded shares of MSCI from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Thursday, July 6th. UBS AG boosted their target price on shares of MSCI from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Morgan Stanley reiterated an “equal weight” rating and set a $97.00 target price (down previously from $98.00) on shares of MSCI in a research note on Tuesday, July 18th. Finally, Barclays PLC assumed coverage on shares of MSCI in a research note on Tuesday, July 18th. They set an “equal weight” rating and a $110.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $106.29.
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MSCI Company Profile
MSCI Inc offers products and services to support the needs of institutional investors throughout their investment processes. Its segments include Index, Analytics and All Other segment. All Other segment comprises environmental, social and governance (ESG) and Real Estate segments. Its indexes are used in various areas of the investment process, including index-linked product creation and performance benchmarking, as well as portfolio construction and rebalancing, and asset allocation.
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