Comerica Bank Has $5.08 Million Position in Msci Inc (MSCI)
Comerica Bank cut its stake in shares of Msci Inc (NYSE:MSCI) by 58.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,737 shares of the technology company’s stock after selling 41,249 shares during the period. Comerica Bank’s holdings in Msci were worth $5,077,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in Msci by 722.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,068,039 shares of the technology company’s stock worth $176,685,000 after acquiring an additional 938,236 shares in the last quarter. BlackRock Inc. lifted its holdings in Msci by 5.1% during the first quarter. BlackRock Inc. now owns 9,350,846 shares of the technology company’s stock worth $1,397,671,000 after acquiring an additional 450,797 shares in the last quarter. Legal & General Group Plc lifted its holdings in Msci by 167.5% during the first quarter. Legal & General Group Plc now owns 425,588 shares of the technology company’s stock worth $63,613,000 after acquiring an additional 266,468 shares in the last quarter. Barometer Capital Management Inc. bought a new position in Msci during the first quarter worth about $24,945,000. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in Msci by 188.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 221,591 shares of the technology company’s stock worth $33,122,000 after acquiring an additional 144,848 shares in the last quarter. 93.05% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. UBS Group lifted their target price on Msci from $173.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, June 5th. Barclays reiterated a “hold” rating and set a $175.00 target price on shares of Msci in a report on Sunday. ValuEngine upgraded Msci from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Wells Fargo & Co lifted their target price on Msci from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, June 25th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $163.00 target price on shares of Msci in a report on Thursday, May 3rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $175.00.
Msci (NYSE:MSCI) last issued its quarterly earnings results on Thursday, August 2nd. The technology company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. The company had revenue of $363.05 million for the quarter, compared to analyst estimates of $356.01 million. Msci had a return on equity of 114.65% and a net margin of 27.83%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 earnings per share. analysts predict that Msci Inc will post 5.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Friday, August 17th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Msci’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, August 16th. Msci’s payout ratio is 38.19%.
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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