State of Michigan Retirement System raised its position in shares of Msci Inc (NYSE:MSCI) by 12.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,756 shares of the technology company’s stock after buying an additional 2,356 shares during the quarter. State of Michigan Retirement System’s holdings in Msci were worth $7,263,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in MSCI. Pacer Advisors Inc. purchased a new stake in shares of Msci in the second quarter valued at $2,391,000. Shine Investment Advisory Services Inc. raised its position in Msci by 57.7% during the second quarter. Shine Investment Advisory Services Inc. now owns 164 shares of the technology company’s stock valued at $55,000 after buying an additional 60 shares during the period. Martin Investment Management LLC lifted its stake in Msci by 1.4% in the 2nd quarter. Martin Investment Management LLC now owns 20,042 shares of the technology company’s stock worth $6,690,000 after acquiring an additional 286 shares in the last quarter. GWM Advisors LLC lifted its stake in Msci by 4.7% in the 2nd quarter. GWM Advisors LLC now owns 2,828 shares of the technology company’s stock worth $944,000 after acquiring an additional 128 shares in the last quarter. Finally, Pitcairn Co. acquired a new stake in Msci during the 2nd quarter worth about $213,000. Institutional investors own 91.74% of the company’s stock.
NYSE MSCI opened at $375.98 on Friday. Msci Inc has a fifty-two week low of $206.82 and a fifty-two week high of $398.49. The stock’s 50-day moving average is $353.33 and its two-hundred day moving average is $315.44. The firm has a market cap of $31.45 billion, a P/E ratio of 61.33 and a beta of 0.94.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, August 13th. This is an increase from Msci’s previous quarterly dividend of $0.68. Msci’s dividend payout ratio (DPR) is 42.24%.
MSCI has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of Msci from $342.00 to $375.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of Msci from $337.00 to $366.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets boosted their price target on shares of Msci from $346.00 to $501.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Zacks Investment Research upgraded Msci from a “hold” rating to a “buy” rating and set a $369.00 price objective for the company in a report on Tuesday, July 7th. Finally, Deutsche Bank started coverage on Msci in a research note on Friday, July 17th. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $346.44.
In other news, COO Cd Baer Pettit sold 2,500 shares of Msci stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $347.47, for a total value of $868,675.00. Following the transaction, the chief operating officer now directly owns 283,045 shares in the company, valued at $98,349,646.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott A. Crum sold 3,500 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $376.69, for a total value of $1,318,415.00. Following the transaction, the insider now directly owns 29,279 shares of the company’s stock, valued at approximately $11,029,106.51. The disclosure for this sale can be found here. In the last three months, insiders sold 11,000 shares of company stock worth $3,770,165. Insiders own 2.94% of the company’s stock.
MSCI Inc, together with its subsidiaries, provides investment decision support tools for the clients to manage their investment processes worldwide. The company operates through four segments: Index, Analytics, ESG, and Real Estate. The Index segment primarily provides equity indexes for use 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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