Dock Street Asset Management Inc. decreased its position 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 fund owned 51,176 shares of the technology company’s stock after selling 566 shares during the period. MSCI makes up 2.5% of Dock Street Asset Management Inc.’s portfolio, making the stock its 17th largest position. Dock Street Asset Management Inc. owned 0.06% of MSCI worth $5,271,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in MSCI during the second quarter worth $1,854,000. Gulf International Bank UK Ltd raised its stake in MSCI by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 26,940 shares of the technology company’s stock worth $2,618,000 after buying an additional 300 shares during the period. Capstone Asset Management Co. raised its stake in shares of MSCI by 1.4% in the first quarter. Capstone Asset Management Co. now owns 10,109 shares of the technology company’s stock worth $982,000 after buying an additional 140 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of MSCI by 8.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 321,205 shares of the technology company’s stock worth $31,218,000 after buying an additional 23,785 shares during the last quarter. Finally, ING Groep NV acquired a new stake in shares of MSCI during the second quarter worth approximately $1,135,000. 95.87% of the stock is owned by hedge funds and other institutional investors.
MSCI Inc (NYSE MSCI) opened at 111.12 on Friday. The stock’s 50 day moving average price is $107.93 and its 200 day moving average price is $100.54. 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 one year low of $76.52 and a one year high of $113.38.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a positive change from MSCI’s previous quarterly dividend of $0.28. MSCI’s dividend payout ratio is currently 49.03%.
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A number of analysts recently commented on the company. BidaskClub lowered MSCI from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised MSCI from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Thursday, July 6th. Credit Suisse Group dropped their price target 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 raised their price target on MSCI from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued 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 given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. MSCI presently has a consensus rating of “Buy” and an average price target of $106.29.
In other MSCI news, COO Cd Baer Pettit sold 2,083 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $103.97, for a total transaction of $216,569.51. Following the transaction, the chief operating officer now owns 182,432 shares of the company’s stock, valued at approximately $18,967,455.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 6,249 shares of company stock worth $663,581. Corporate 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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