Progressive Investment Management Corp cut its stake in MSCI Inc (NYSE:MSCI – Free Report) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,593 shares of the technology company’s stock after selling 151 shares during the period. MSCI accounts for about 2.3% of Progressive Investment Management Corp’s portfolio, making the stock its 19th largest position. Progressive Investment Management Corp’s holdings in MSCI were worth $8,993,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MSCI. GAMMA Investing LLC boosted its stake in MSCI by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $506,000 after purchasing an additional 69 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in MSCI by 105.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,762 shares of the technology company’s stock worth $7,783,000 after purchasing an additional 7,063 shares in the last quarter. Ritholtz Wealth Management boosted its stake in MSCI by 23.2% in the 1st quarter. Ritholtz Wealth Management now owns 812 shares of the technology company’s stock worth $459,000 after purchasing an additional 153 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in MSCI by 31.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,759 shares of the technology company’s stock worth $2,126,000 after purchasing an additional 897 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in MSCI in the 1st quarter worth approximately $334,000. 89.97% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
MSCI has been the subject of a number of recent analyst reports. Raymond James Financial upgraded shares of MSCI from a “market perform” rating to an “outperform” rating and set a $650.00 target price for the company in a research note on Friday, July 25th. UBS Group raised their price target on shares of MSCI from $655.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of MSCI in a research report on Wednesday, October 8th. Evercore ISI raised their price target on shares of MSCI from $588.00 to $611.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price target on shares of MSCI from $578.00 to $533.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $647.70.
MSCI Price Performance
NYSE:MSCI opened at $534.91 on Friday. The firm has a market cap of $41.38 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33. The company has a 50 day moving average price of $563.02 and a 200-day moving average price of $558.56. MSCI Inc has a 1-year low of $486.73 and a 1-year high of $642.45.
MSCI (NYSE:MSCI – Get Free Report) last posted its earnings results on Tuesday, July 22nd. The technology company reported $4.17 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.05. The firm had revenue of $772.68 million during the quarter, compared to analyst estimates of $763.06 million. MSCI had a net margin of 39.46% and a negative return on equity of 143.13%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.64 EPS. On average, sell-side analysts anticipate that MSCI Inc will post 16.86 earnings per share for the current fiscal year.
MSCI Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, August 15th. MSCI’s payout ratio is 47.68%.
Insider Buying and Selling at MSCI
In related news, CEO Henry A. Fernandez purchased 9,916 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was bought at an average price of $544.70 per share, with a total value of $5,401,245.20. Following the acquisition, the chief executive officer owned 1,279,867 shares in the company, valued at $697,143,554.90. The trade was a 0.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have purchased 12,400 shares of company stock worth $6,731,599. 3.31% of the stock is owned by insiders.
MSCI Profile
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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