Principal Financial Group Inc. trimmed its holdings in shares of MSCI Inc. (NYSE:MSCI) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 703,340 shares of the technology company’s stock after selling 16,441 shares during the quarter. Principal Financial Group Inc.’s holdings in MSCI were worth $374,936,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in MSCI. Price T Rowe Associates Inc. MD boosted its stake in MSCI by 28.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,798,659 shares of the technology company’s stock valued at $1,592,702,000 after buying an additional 834,479 shares in the last quarter. Brown Advisory Inc. increased its stake in MSCI by 4,548.1% in the 1st quarter. Brown Advisory Inc. now owns 610,156 shares of the technology company’s stock valued at $255,827,000 after buying an additional 597,029 shares during the period. Bessemer Group Inc. increased its stake in shares of MSCI by 11,293.7% during the 1st quarter. Bessemer Group Inc. now owns 335,430 shares of the technology company’s stock worth $140,638,000 after purchasing an additional 332,486 shares during the last quarter. BlackRock Inc. increased its stake in shares of MSCI by 4.9% during the 1st quarter. BlackRock Inc. now owns 6,726,412 shares of the technology company’s stock worth $2,820,249,000 after purchasing an additional 315,551 shares during the last quarter. Finally, Sustainable Growth Advisers LP boosted its holdings in shares of MSCI by 47.6% during the 1st quarter. Sustainable Growth Advisers LP now owns 715,750 shares of the technology company’s stock worth $300,100,000 after buying an additional 230,912 shares during the period. 90.61% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on MSCI. Morgan Stanley increased their price target on shares of MSCI from $480.00 to $523.00 and gave the company an “equal weight” rating in a report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft boosted 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. Barclays boosted their target price on MSCI from $545.00 to $700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Zacks Investment Research raised MSCI from a “hold” rating to a “buy” rating and set a $621.00 target price on the stock in a report on Thursday, July 29th. Finally, Royal Bank of Canada assumed coverage on MSCI in a report on Wednesday, July 7th. They issued an “outperform” rating and a $600.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, MSCI currently has an average rating of “Buy” and a consensus target price of $597.57.
MSCI (NYSE:MSCI) last posted its earnings results on Tuesday, July 27th. The technology company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.31 by $0.14. The firm had revenue of $498.20 million during the quarter, compared to the consensus estimate of $490.25 million. MSCI had a negative return on equity of 180.78% and a net margin of 37.97%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the company earned $1.77 earnings per share. As a group, research analysts expect that MSCI Inc. will post 9.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders 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 was Thursday, August 12th. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. MSCI’s dividend payout ratio (DPR) is 53.13%.
In other MSCI news, COO Cd Baer Pettit sold 2,500 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 251,837 shares in the company, valued at $156,881,859.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer H. Mak sold 300 shares of the company’s 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 disclosure for this sale can be found here. Insiders own 2.93% of the company’s stock.
MSCI Company Profile
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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