Corebridge Financial Inc. Has $11.49 Million Holdings in MSCI Inc $MSCI

Key Points

• Corebridge Financial Inc. has reduced its holdings in MSCI Inc. by 4.8%, owning 20,314 shares worth approximately $11.48 million after selling 1,014 shares.
• MSCI Inc. reported $4.17 earnings per share for the last quarter, exceeding analysts' expectations of $4.12, with a revenue of $772.68 million.
• The company announced a quarterly dividend of $1.80 per share, reflecting an annualized yield of 1.3%, with a payout ratio of 47.68%.

Corebridge Financial Inc. cut its position in shares of MSCI Inc (NYSE:MSCI - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 20,314 shares of the technology company's stock after selling 1,014 shares during the quarter. Corebridge Financial Inc.'s holdings in MSCI were worth $11,488,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MSCI. Sunbelt Securities Inc. grew its holdings in shares of MSCI by 15.4% during the first quarter. Sunbelt Securities Inc. now owns 142 shares of the technology company's stock valued at $80,000 after buying an additional 19 shares in the last quarter. Optivise Advisory Services LLC lifted its position in shares of MSCI by 3.8% in the first quarter. Optivise Advisory Services LLC now owns 540 shares of the technology company's stock worth $306,000 after buying an additional 20 shares during the last quarter. Quotient Wealth Partners LLC lifted its position in shares of MSCI by 5.9% in the first quarter. Quotient Wealth Partners LLC now owns 361 shares of the technology company's stock worth $204,000 after buying an additional 20 shares during the last quarter. Whipplewood Advisors LLC lifted its position in shares of MSCI by 16.8% in the first quarter. Whipplewood Advisors LLC now owns 146 shares of the technology company's stock worth $83,000 after buying an additional 21 shares during the last quarter. Finally, Salvus Wealth Management LLC boosted its stake in MSCI by 2.6% during the 1st quarter. Salvus Wealth Management LLC now owns 824 shares of the technology company's stock valued at $466,000 after purchasing an additional 21 shares during the period. 89.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Raymond James Financial raised MSCI from a "market perform" rating to an "outperform" rating and set a $650.00 price target for the company in a report on Friday, July 25th. UBS Group upped their price target on MSCI from $655.00 to $700.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company cut their price target on MSCI from $578.00 to $533.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on MSCI from $650.00 to $680.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $654.73.

Insider Buying and Selling at MSCI

In related news, CEO Henry A. Fernandez purchased 9,916 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were bought at an average price of $544.70 per share, with a total value of $5,401,245.20. Following the purchase, the chief executive officer directly owned 1,279,867 shares in the company, valued at $697,143,554.90. This trade represents a 0.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders acquired 12,400 shares of company stock valued at $6,731,599. Corporate insiders own 3.31% of the company's stock.

MSCI Stock Performance

Shares of MSCI stock traded down $0.98 during trading hours on Monday, hitting $567.57. The company had a trading volume of 498,985 shares, compared to its average volume of 589,100. MSCI Inc has a 12 month low of $486.73 and a 12 month high of $642.45. The firm has a market capitalization of $43.91 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 2.77 and a beta of 1.34. The firm's fifty day moving average is $565.89 and its 200 day moving average is $559.90.

MSCI (NYSE:MSCI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The technology company reported $4.17 EPS for the quarter, topping analysts' consensus estimates of $4.12 by $0.05. The business had revenue of $772.68 million for the quarter, compared to analyst estimates of $763.06 million. MSCI had a negative return on equity of 143.13% and a net margin of 39.46%.MSCI's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.64 EPS. On average, sell-side analysts expect that MSCI Inc will post 16.86 EPS for the current fiscal year.

MSCI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.3%. MSCI's dividend payout ratio is 47.68%.

MSCI Company 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.