Prudential Financial Inc. Has $48.34 Million Stake in MSCI Inc (MSCI)
Prudential Financial Inc. increased its stake in MSCI Inc (NYSE:MSCI) by 27.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 469,318 shares of the technology company’s stock after buying an additional 101,000 shares during the period. Prudential Financial Inc. owned approximately 0.52% of MSCI worth $48,335,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in MSCI. Janney Montgomery Scott LLC boosted its stake in MSCI by 13.4% in the first quarter. Janney Montgomery Scott LLC now owns 16,882 shares of the technology company’s stock valued at $1,641,000 after buying an additional 1,993 shares during the period. Shell Asset Management Co. raised its position in shares of MSCI by 4.2% in the first quarter. Shell Asset Management Co. now owns 4,944 shares of the technology company’s stock worth $481,000 after buying an additional 199 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of MSCI by 12.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,212 shares of the technology company’s stock worth $700,000 after buying an additional 820 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of MSCI by 932.6% in the first quarter. Canada Pension Plan Investment Board now owns 38,310 shares of the technology company’s stock worth $3,723,000 after buying an additional 34,600 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of MSCI by 9.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,884 shares of the technology company’s stock worth $1,738,000 after buying an additional 1,472 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.
MSCI Inc (NYSE MSCI) opened at 113.08 on Wednesday. MSCI Inc has a one year low of $76.52 and a one year high of $114.86. The company’s 50-day moving average price is $109.12 and its 200-day moving average price is $101.41. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 36.62 and a beta of 1.04.
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, topping analysts’ consensus estimates of $0.90 by $0.05. MSCI had a return on equity of 87.11% and a net margin of 24.01%. The company had revenue of $316.08 million during the quarter, compared to analysts’ expectations of $314.03 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that MSCI Inc will post $3.80 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 18th will be given a $0.38 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from MSCI’s previous quarterly dividend of $0.28. MSCI’s payout ratio is currently 49.03%.
MSCI has been the topic of a number of recent analyst reports. Barclays PLC initiated coverage on MSCI in a report on Tuesday, July 18th. They set an “equal weight” rating and a $110.00 price objective on the stock. Credit Suisse Group dropped their price objective on MSCI from $105.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday, May 5th. BidaskClub lowered MSCI from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $100.00 price objective on shares of MSCI in a report on Friday, May 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $97.00 price objective (down previously from $98.00) on shares of MSCI in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $106.29.
In other MSCI news, COO Cd Baer Pettit sold 2,083 shares of the business’s stock in a transaction dated 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 owns 180,349 shares of the company’s stock, valued at $18,655,300.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 6,249 shares of company stock valued at $663,581 in the last ninety days. Insiders own 2.26% of the company’s stock.
MSCI Company Profile
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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