Spire Wealth Management Sells 488 Shares of MSCI Inc $MSCI

Spire Wealth Management lessened its holdings in MSCI Inc (NYSE:MSCI) by 88.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66 shares of the technology company’s stock after selling 488 shares during the quarter. Spire Wealth Management’s holdings in MSCI were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in shares of MSCI by 136.4% in the first quarter. Meeder Asset Management Inc. now owns 52 shares of the technology company’s stock worth $29,000 after purchasing an additional 30 shares during the last quarter. Steph & Co. bought a new stake in MSCI during the 2nd quarter valued at about $35,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in MSCI by 50.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 66 shares of the technology company’s stock valued at $37,000 after buying an additional 22 shares during the period. Banque Transatlantique SA grew its stake in MSCI by 355.6% in the 1st quarter. Banque Transatlantique SA now owns 82 shares of the technology company’s stock worth $43,000 after acquiring an additional 64 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in MSCI by 2,666.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 83 shares of the technology company’s stock worth $47,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 89.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MSCI shares. UBS Group lifted their price target on shares of MSCI from $700.00 to $710.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Evercore ISI lifted their target price on MSCI from $588.00 to $611.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Raymond James Financial upgraded MSCI from a “market perform” rating to an “outperform” rating and set a $650.00 target price for the company in a report on Friday, July 25th. Wells Fargo & Company raised their price target on MSCI from $533.00 to $570.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings downgraded MSCI from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $655.90.

MSCI Trading Up 1.4%

Shares of NYSE:MSCI opened at $580.06 on Friday. The company has a market capitalization of $43.59 billion, a PE ratio of 36.76, a P/E/G ratio of 2.76 and a beta of 1.34. MSCI Inc has a 12-month low of $486.73 and a 12-month high of $642.45. The business’s fifty day simple moving average is $562.25 and its 200-day simple moving average is $561.19.

MSCI (NYSE:MSCI) last issued its quarterly earnings data on Tuesday, October 28th. The technology company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $0.10. MSCI had a negative return on equity of 110.94% and a net margin of 40.03%.The company had revenue of $793.43 million for the quarter, compared to the consensus estimate of $794.87 million. During the same quarter last year, the company earned $3.86 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts predict that MSCI Inc will post 16.86 EPS for the current year.

MSCI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $1.80 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.2%. MSCI’s payout ratio is presently 45.63%.

MSCI announced that its board has approved a share buyback plan on Tuesday, October 28th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the technology company to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About MSCI

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.