Schechter Investment Advisors LLC purchased a new stake in shares of MSCI Inc. (NYSE:MSCI – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 440 shares of the technology company’s stock, valued at approximately $246,000.
A number of other institutional investors have also recently made changes to their positions in the company. Alliancebernstein L.P. lifted its position in MSCI by 59.7% during the fourth quarter. Alliancebernstein L.P. now owns 2,382,561 shares of the technology company’s stock valued at $1,108,296,000 after purchasing an additional 890,554 shares during the period. Price T Rowe Associates Inc. MD lifted its position in MSCI by 27.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,182,687 shares of the technology company’s stock valued at $1,015,320,000 after purchasing an additional 467,592 shares during the period. Geode Capital Management LLC lifted its position in MSCI by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,601,510 shares of the technology company’s stock valued at $743,762,000 after purchasing an additional 29,646 shares during the period. American Century Companies Inc. raised its position in MSCI by 0.3% in the fourth quarter. American Century Companies Inc. now owns 1,259,024 shares of the technology company’s stock worth $585,660,000 after acquiring an additional 3,492 shares during the period. Finally, Durable Capital Partners LP raised its position in MSCI by 26.3% in the first quarter. Durable Capital Partners LP now owns 1,208,281 shares of the technology company’s stock worth $607,620,000 after acquiring an additional 251,686 shares during the period. Hedge funds and other institutional investors own 89.69% of the company’s stock.
Wall Street Analysts Forecast Growth
MSCI has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of MSCI from $585.00 to $590.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 19th. Wells Fargo & Company initiated coverage on shares of MSCI in a research report on Tuesday, May 9th. They issued an “overweight” rating and a $570.00 price target on the stock. SpectralCast reiterated a “maintains” rating on shares of MSCI in a research report on Wednesday, April 26th. Royal Bank of Canada decreased their price target on shares of MSCI from $600.00 to $545.00 in a research report on Monday, July 10th. Finally, StockNews.com initiated coverage on shares of MSCI in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, MSCI presently has an average rating of “Hold” and a consensus price target of $551.82.
MSCI Stock Performance
MSCI (NYSE:MSCI – Get Free Report) last posted its earnings results on Tuesday, April 25th. The technology company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.23. The company had revenue of $592.20 million during the quarter, compared to analysts’ expectations of $593.92 million. MSCI had a net margin of 38.62% and a negative return on equity of 93.49%. MSCI’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $2.98 earnings per share. On average, equities research analysts forecast that MSCI Inc. will post 12.89 earnings per share for the current year.
MSCI Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Friday, May 12th were paid a $1.38 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.08%. MSCI’s payout ratio is currently 50.60%.
About MSCI
MSCI Inc, together with its subsidiaries, provides investment decision support tools for the clients to manage their investment processes worldwide. It operates through four segments: Index, Analytics, ESG and Climate, and All Other Private Assets. The Index segment provides indexes for use in various areas of the investment process, including indexed product creation, such as ETFs, mutual funds, annuities, futures, options, structured products, 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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