Fullerton Fund Management Co Ltd. purchased a new stake in MSCI Inc. (NYSE:MSCI – Get Rating) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 87,743 shares of the technology company’s stock, valued at approximately $44,124,000. MSCI comprises about 2.3% of Fullerton Fund Management Co Ltd.’s holdings, making the stock its 18th biggest position.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new stake in shares of MSCI during the fourth quarter worth $13,914,000. Tredje AP fonden bought a new stake in shares of MSCI in the 4th quarter valued at about $1,470,000. Citigroup Inc. raised its position in shares of MSCI by 2.7% in the 4th quarter. Citigroup Inc. now owns 87,074 shares of the technology company’s stock valued at $53,351,000 after acquiring an additional 2,310 shares during the period. Pinebridge Investments L.P. bought a new position in MSCI during the 4th quarter worth approximately $3,986,000. Finally, JPMorgan Chase & Co. grew its holdings in MSCI by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 872,945 shares of the technology company’s stock valued at $534,843,000 after purchasing an additional 8,753 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on MSCI shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of MSCI from $478.00 to $513.00 in a report on Wednesday, August 10th. Raymond James reduced their target price on MSCI from $515.00 to $493.00 in a report on Friday, July 15th. Royal Bank of Canada lowered their price target on MSCI from $600.00 to $520.00 and set an “outperform” rating for the company in a report on Tuesday, June 28th. Barclays cut their price objective on MSCI from $570.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, June 24th. Finally, Oppenheimer increased their target price on MSCI from $507.00 to $535.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $517.25.
MSCI Stock Performance
MSCI (NYSE:MSCI – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The technology company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.07. The business had revenue of $551.80 million for the quarter, compared to analyst estimates of $560.24 million. MSCI had a net margin of 36.85% and a negative return on equity of 151.89%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.45 earnings per share. On average, equities research analysts forecast that MSCI Inc. will post 11.33 EPS for the current year.
MSCI Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Friday, August 12th were issued a $1.25 dividend. This is a boost from MSCI’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $5.00 annualized dividend and a dividend yield of 1.02%. MSCI’s dividend payout ratio (DPR) is presently 51.44%.
Insider Buying and Selling
In other MSCI news, insider Scott A. Crum sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $501.46, for a total value of $2,507,300.00. Following the completion of the transaction, the insider now directly owns 27,408 shares in the company, valued at $13,744,015.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.02% of the stock is currently owned by corporate insiders.
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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