Inverness Counsel LLC NY lowered its stake in shares of MSCI Inc. (NYSE:MSCI) by 4.0% in the second quarter, Holdings Channel reports. The institutional investor owned 24,040 shares of the technology company’s stock after selling 1,004 shares during the quarter. Inverness Counsel LLC NY’s holdings in MSCI were worth $12,815,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new stake in MSCI in the first quarter valued at $28,000. Red Door Wealth Management LLC purchased a new position in MSCI during the 2nd quarter valued at about $28,000. Lloyd Advisory Services LLC. grew its stake in MSCI by 45.5% during the 2nd quarter. Lloyd Advisory Services LLC. now owns 64 shares of the technology company’s stock valued at $34,000 after acquiring an additional 20 shares in the last quarter. Ameritas Investment Company LLC bought a new stake in shares of MSCI in the 1st quarter valued at approximately $36,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of MSCI in the 2nd quarter valued at approximately $38,000. 90.61% of the stock is owned by institutional investors and hedge funds.
MSCI has been the subject of several analyst reports. Oppenheimer boosted their target price on MSCI from $566.00 to $626.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Morgan Stanley upped their price target on MSCI from $480.00 to $523.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft increased their target price on MSCI from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Tuesday, August 3rd. Zacks Investment Research raised MSCI from a “hold” rating to a “buy” rating and set a $621.00 price target on the stock in a research note on Thursday, July 29th. Finally, Barclays increased their target price on MSCI from $545.00 to $700.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, MSCI has a consensus rating of “Buy” and an average price target of $597.57.
MSCI (NYSE:MSCI) last released its earnings results on Tuesday, July 27th. The technology company reported $2.45 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $498.20 million during the quarter, compared to analyst estimates of $490.25 million. During the same period in the prior year, the company posted $1.77 earnings per share. MSCI’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, sell-side analysts anticipate that MSCI Inc. will post 9.75 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Friday, August 13th were given a dividend of $1.04 per share. This is an increase from MSCI’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. MSCI’s dividend payout ratio (DPR) is presently 53.13%.
In other news, COO Cd Baer Pettit sold 2,500 shares of MSCI stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $622.95, for a total transaction of $1,557,375.00. Following the completion of the transaction, the chief operating officer now directly owns 251,837 shares in the company, valued at $156,881,859.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer H. Mak sold 300 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $622.38, for a total transaction of $186,714.00. The disclosure for this sale can be found here. 2.93% of the stock is currently owned by company 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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