Synovus Financial Corp boosted its stake in shares of Msci Inc (NYSE:MSCI) by 285.7% in the third quarter, Holdings Channel reports. The firm owned 162 shares of the technology company’s stock after acquiring an additional 120 shares during the period. Synovus Financial Corp’s holdings in Msci were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Next Capital Management LLC bought a new stake in Msci during the second quarter worth approximately $25,000. Squar Milner Financial Services LLC bought a new stake in Msci during the third quarter worth approximately $28,000. Capital Investment Advisory Services LLC bought a new stake in Msci during the second quarter worth approximately $33,000. Coastal Investment Advisors Inc. bought a new stake in Msci during the third quarter worth approximately $39,000. Finally, CSat Investment Advisory L.P. boosted its position in Msci by 113.6% during the second quarter. CSat Investment Advisory L.P. now owns 220 shares of the technology company’s stock worth $53,000 after purchasing an additional 117 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.
Shares of MSCI traded up $1.18 during mid-day trading on Tuesday, hitting $246.18. The company’s stock had a trading volume of 402,979 shares, compared to its average volume of 559,498. Msci Inc has a one year low of $134.28 and a one year high of $249.25. The firm has a market capitalization of $20.75 billion, a PE ratio of 46.01, a price-to-earnings-growth ratio of 3.82 and a beta of 1.14. The stock’s 50-day moving average is $226.84 and its two-hundred day moving average is $229.69.
The company also recently announced a dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Thursday, November 14th. Msci’s payout ratio is 50.84%.
MSCI has been the subject of a number of recent analyst reports. Atlantic Securities assumed coverage on Msci in a research report on Wednesday, September 25th. They set a “neutral” rating and a $235.00 target price for the company. Zacks Investment Research raised Msci from a “sell” rating to a “hold” rating and set a $258.00 price objective for the company in a research report on Monday, November 4th. Buckingham Research reduced their price objective on Msci from $222.00 to $218.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. ValuEngine cut Msci from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co increased their price objective on Msci from $260.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $240.20.
In related news, Director Benjamin F. Dupont sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $238.51, for a total value of $1,908,080.00. Following the completion of the transaction, the director now directly owns 17,095 shares in the company, valued at $4,077,328.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.
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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