Korea Investment CORP Lowers Holdings in Msci Inc (MSCI)
Korea Investment CORP lessened its position in shares of Msci Inc (NYSE:MSCI) by 10.4% in the second quarter, HoldingsChannel.com reports. The fund owned 49,765 shares of the technology company’s stock after selling 5,800 shares during the quarter. Korea Investment CORP’s holdings in Msci were worth $8,233,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of MSCI. Smithfield Trust Co. boosted its position in shares of Msci by 2,573.3% in the second quarter. Smithfield Trust Co. now owns 802 shares of the technology company’s stock worth $133,000 after buying an additional 772 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of Msci in the second quarter worth about $214,000. Alps Advisors Inc. purchased a new stake in shares of Msci in the second quarter worth about $214,000. Atria Investments LLC purchased a new stake in shares of Msci in the first quarter worth about $202,000. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Msci in the first quarter worth about $208,000. 91.21% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on MSCI shares. Wells Fargo & Co upped their target price on Msci from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, June 25th. UBS Group upped their target price on Msci from $173.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, June 5th. Zacks Investment Research raised Msci from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Barclays reiterated a “hold” rating and issued a $175.00 price target on shares of Msci in a research note on Sunday, August 12th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Msci in a research note on Tuesday, June 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $175.00.
Msci (NYSE:MSCI) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. Msci had a return on equity of 114.65% and a net margin of 27.83%. The firm had revenue of $363.05 million for the quarter, compared to analysts’ expectations of $356.01 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Msci’s revenue for the quarter was up 14.9% compared to the same quarter last year. equities research analysts predict that Msci Inc will post 5.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.32 annualized dividend and a yield of 1.30%. This is a boost from Msci’s previous quarterly dividend of $0.38. Msci’s dividend payout ratio is presently 58.29%.
Msci Company Profile
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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