Comerica Bank Boosts Position in MSCI Inc (MSCI)
Comerica Bank raised its stake in shares of MSCI Inc (NYSE:MSCI) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,898 shares of the technology company’s stock after buying an additional 778 shares during the period. Comerica Bank owned approximately 0.08% of MSCI worth $7,726,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in MSCI. BlackRock Inc. increased its position in shares of MSCI by 5,307.1% in the first quarter. BlackRock Inc. now owns 8,220,286 shares of the technology company’s stock worth $798,929,000 after buying an additional 8,068,258 shares during the period. Findlay Park Partners LLP increased its position in shares of MSCI by 322.5% in the first quarter. Findlay Park Partners LLP now owns 890,489 shares of the technology company’s stock worth $86,547,000 after buying an additional 679,729 shares during the period. Renaissance Technologies LLC increased its position in shares of MSCI by 675.7% in the first quarter. Renaissance Technologies LLC now owns 246,821 shares of the technology company’s stock worth $23,989,000 after buying an additional 215,000 shares during the period. Vanguard Group Inc. increased its position in shares of MSCI by 2.1% in the first quarter. Vanguard Group Inc. now owns 8,620,375 shares of the technology company’s stock worth $837,814,000 after buying an additional 174,154 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of MSCI by 28.5% in the first quarter. Ameriprise Financial Inc. now owns 762,930 shares of the technology company’s stock worth $74,148,000 after buying an additional 169,058 shares during the period. 95.87% of the stock is owned by hedge funds and other institutional investors.
MSCI Inc (NYSE MSCI) opened at 111.12 on Monday. The company has a market capitalization of $10.01 billion, a P/E ratio of 35.98 and a beta of 1.04. MSCI Inc has a 1-year low of $76.52 and a 1-year high of $113.38. The firm has a 50-day moving average price of $107.93 and a 200 day moving average price of $100.54.
MSCI (NYSE:MSCI) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $316.08 million during the quarter, compared to analysts’ expectations of $314.03 million. MSCI had a return on equity of 87.11% and a net margin of 24.01%. MSCI’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $0.77 earnings per share. On average, equities analysts predict that MSCI Inc will post $3.80 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Friday, August 18th will be given a $0.38 dividend. The ex-dividend date is Wednesday, August 16th. This is a boost from MSCI’s previous quarterly dividend of $0.28. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.37%. MSCI’s payout ratio is 49.03%.
A number of research analysts recently issued reports on the company. BidaskClub downgraded MSCI from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded MSCI from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Thursday, July 6th. Credit Suisse Group cut their price objective on MSCI from $105.00 to $94.00 and set an “outperform” rating for the company in a research note on Friday, May 5th. UBS AG boosted their price objective on MSCI from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $97.00 price objective (down from $98.00) on shares of MSCI in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $106.29.
In other news, COO Cd Baer Pettit sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $103.44, for a total value of $215,465.52. Following the completion of the sale, the chief operating officer now directly owns 180,349 shares in the company, valued at $18,655,300.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,249 shares of company stock valued at $663,581 over the last 90 days. Company insiders own 2.26% of the company’s stock.
MSCI Inc offers products and services to support the needs of institutional investors throughout their investment processes. Its segments include Index, Analytics and All Other segment. All Other segment comprises environmental, social and governance (ESG) and Real Estate segments. Its indexes are used 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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