Banco Santander S.A. raised its position in MSCI Inc. (NYSE:MSCI – Get Rating) by 65.1% in the first quarter, HoldingsChannel reports. The fund owned 16,236 shares of the technology company’s stock after purchasing an additional 6,401 shares during the quarter. Banco Santander S.A.’s holdings in MSCI were worth $8,164,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in MSCI. BlackRock Inc. lifted its holdings in shares of MSCI by 5.7% in the fourth quarter. BlackRock Inc. now owns 6,730,522 shares of the technology company’s stock valued at $4,123,726,000 after purchasing an additional 360,156 shares in the last quarter. State Street Corp lifted its holdings in shares of MSCI by 2.2% in the fourth quarter. State Street Corp now owns 3,662,015 shares of the technology company’s stock valued at $2,243,680,000 after purchasing an additional 77,739 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of MSCI by 1.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,909,071 shares of the technology company’s stock valued at $1,782,359,000 after purchasing an additional 48,326 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of MSCI by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 1,527,200 shares of the technology company’s stock valued at $933,388,000 after purchasing an additional 71,731 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of MSCI by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 872,945 shares of the technology company’s stock valued at $534,843,000 after purchasing an additional 8,753 shares in the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on MSCI shares. Royal Bank of Canada dropped their target price on MSCI from $600.00 to $520.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Morgan Stanley dropped their price target on MSCI from $515.00 to $508.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 27th. UBS Group lifted their price target on MSCI from $514.00 to $546.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Redburn Partners started coverage on MSCI in a report on Tuesday, May 17th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on MSCI from $533.00 to $477.00 in a report on Wednesday, April 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $509.25.
MSCI Price Performance
MSCI (NYSE:MSCI – Get Rating) last issued its earnings results on Tuesday, July 26th. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.07. The firm had revenue of $551.80 million for the quarter, compared to analyst estimates of $560.24 million. MSCI had a negative return on equity of 151.89% and a net margin of 36.85%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.45 earnings per share. Sell-side analysts anticipate that MSCI Inc. will post 11.38 earnings per share for the current fiscal year.
MSCI Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Friday, August 12th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This is a positive change from MSCI’s previous quarterly dividend of $1.04. This represents a $5.00 annualized dividend and a dividend yield of 1.01%. MSCI’s payout ratio is presently 42.80%.
MSCI Inc, together with its subsidiaries, provides investment decision support tools for the clients to manage their investment processes worldwide. It operates through four segments: Index, Analytics, ESG and Climate, and All Other – Private Assets. The Index segment provides indexes for use in various areas of the investment process, including indexed product creation, such as ETFs, mutual funds, annuities, futures, options, structured products, over-the-counter derivatives; performance benchmarking; portfolio construction and rebalancing; and asset allocation, as well as licenses GICS and GICS Direct.
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