Ritholtz Wealth Management raised its stake in MSCI Inc (NYSE:MSCI – Free Report) by 23.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 812 shares of the technology company’s stock after purchasing an additional 153 shares during the quarter. Ritholtz Wealth Management’s holdings in MSCI were worth $459,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of MSCI by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,897,456 shares of the technology company’s stock worth $1,136,563,000 after acquiring an additional 35,094 shares during the last quarter. Norges Bank purchased a new stake in shares of MSCI during the fourth quarter worth about $609,937,000. FMR LLC increased its position in shares of MSCI by 3.1% during the fourth quarter. FMR LLC now owns 853,452 shares of the technology company’s stock worth $512,079,000 after acquiring an additional 25,325 shares during the last quarter. Northern Trust Corp increased its position in shares of MSCI by 6.6% during the fourth quarter. Northern Trust Corp now owns 784,490 shares of the technology company’s stock worth $470,702,000 after acquiring an additional 48,524 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of MSCI by 16,353.6% during the fourth quarter. Bessemer Group Inc. now owns 587,557 shares of the technology company’s stock worth $352,539,000 after acquiring an additional 583,986 shares during the last quarter. 89.97% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, COO Cd Baer Pettit sold 5,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $552.59, for a total value of $2,762,950.00. Following the completion of the sale, the chief operating officer now owns 289,787 shares in the company, valued at $160,133,398.33. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.31% of the company’s stock.
MSCI Stock Performance
MSCI (NYSE:MSCI – Get Free Report) last released its earnings results on Tuesday, April 22nd. The technology company reported $4.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.12. The company had revenue of $745.83 million during the quarter, compared to analyst estimates of $746.45 million. MSCI had a negative return on equity of 145.52% and a net margin of 39.08%. On average, research analysts forecast that MSCI Inc will post 16.86 earnings per share for the current year.
MSCI Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.32%. MSCI’s payout ratio is currently 49.48%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on MSCI. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $675.00 target price on shares of MSCI in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price target on MSCI from $680.00 to $650.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Barclays decreased their price target on MSCI from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Evercore ISI decreased their price target on MSCI from $673.00 to $631.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price target on MSCI from $532.00 to $530.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MSCI has a consensus rating of “Moderate Buy” and an average price target of $645.36.
Get Our Latest Stock Report on MSCI
About MSCI
MSCI Inc, together with its subsidiaries, provides critical decision support tools and solutions for the investment community to manage investment processes worldwide. The Index segment provides indexes for use in various areas of the investment process, including indexed financial product, such as ETFs, mutual funds, annuities, futures, options, structured products, and over-the-counter derivatives; performance benchmarking; portfolio construction and rebalancing; and asset allocation, as well as licenses GICS and GICS Direct.
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