Sumitomo Life Insurance Co. Sells 184 Shares of MSCI Inc $MSCI

Sumitomo Life Insurance Co. lessened its holdings in MSCI Inc (NYSE:MSCI) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,124 shares of the technology company’s stock after selling 184 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in MSCI were worth $2,378,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in MSCI by 10.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,882 shares of the technology company’s stock worth $5,123,000 after acquiring an additional 809 shares during the last quarter. waypoint wealth counsel bought a new position in MSCI during the 2nd quarter worth approximately $355,000. Crestwood Advisors Group LLC boosted its stake in MSCI by 6.5% during the 1st quarter. Crestwood Advisors Group LLC now owns 524 shares of the technology company’s stock worth $296,000 after acquiring an additional 32 shares during the last quarter. Ascent Group LLC bought a new position in MSCI during the 1st quarter worth approximately $288,000. Finally, Callan Family Office LLC boosted its stake in MSCI by 92.9% during the 2nd quarter. Callan Family Office LLC now owns 3,627 shares of the technology company’s stock worth $2,092,000 after acquiring an additional 1,747 shares during the last quarter. Institutional investors own 89.97% of the company’s stock.

MSCI Stock Performance

Shares of MSCI opened at $588.17 on Friday. MSCI Inc has a twelve month low of $486.73 and a twelve month high of $642.45. The firm’s 50 day moving average price is $561.84 and its two-hundred day moving average price is $560.43. The firm has a market cap of $45.50 billion, a P/E ratio of 37.27, a PEG ratio of 2.76 and a beta of 1.33.

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

MSCI announced that its board has initiated a share buyback plan on Tuesday, October 28th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

MSCI Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MSCI. Weiss Ratings lowered shares of MSCI from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of MSCI from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of MSCI from $533.00 to $570.00 and gave the company an “equal weight” rating in a research note on Wednesday. Evercore ISI lifted their price target on shares of MSCI from $588.00 to $611.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Finally, Seaport Res Ptn raised shares of MSCI to a “strong-buy” rating in a research note on Wednesday, October 1st. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $655.90.

MSCI Profile

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.