MSCI Inc $MSCI Stock Sold by Choreo LLC

Key Points

• Choreo LLC cut its MSCI stake by 56.6% in the third quarter, selling 1,907 shares and retaining 1,465 shares valued at about $789,000.
• MSCI beat quarterly earnings and revenue expectations: EPS was $5.11 versus $5.03 estimated, while revenue rose 12.4% year over year to $892 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $683.69. MSCI also declared a quarterly dividend of $2.05 per share, equivalent to a 1.2% yield.

Choreo LLC decreased its stake in shares of MSCI Inc (NYSE:MSCI - Free Report) by 56.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,465 shares of the technology company's stock after selling 1,907 shares during the period. Choreo LLC's holdings in MSCI were worth $789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MSCI. Dimensional Fund Advisors LP lifted its position in MSCI by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 280,912 shares of the technology company's stock valued at $151,401,000 after buying an additional 5,469 shares during the period. Andra AP fonden boosted its holdings in shares of MSCI by 477.6% during the 2nd quarter. Andra AP fonden now owns 15,480 shares of the technology company's stock valued at $8,669,000 after buying an additional 12,800 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of MSCI in the 2nd quarter worth about $1,069,000. Corient Private Wealth LP purchased a new stake in shares of MSCI in the 2nd quarter worth about $8,644,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of MSCI in the 2nd quarter worth about $8,118,000. Hedge funds and other institutional investors own 89.97% of the company's stock.

Insiders Place Their Bets

In other news, CFO Andrew Wiechmann sold 450 shares of the firm's stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $570.00, for a total transaction of $256,500.00. Following the completion of the transaction, the chief financial officer owned 21,644 shares in the company, valued at $12,337,080. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Robert Gutowski sold 2,381 shares of the firm's stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $623.66, for a total value of $1,484,934.46. Following the transaction, the general counsel owned 14,104 shares of the company's stock, valued at $8,796,100.64. This represents a 14.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MSCI. BNP Paribas Exane decreased their price target on shares of MSCI from $570.00 to $550.00 in a research note on Monday, October 19th. Evercore set a $722.00 price objective on MSCI and gave the company an "outperform" rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $684.00 price objective (down from $704.00) on shares of MSCI in a research report on Tuesday, October 20th. UBS Group set a $615.00 price objective on MSCI in a research note on Wednesday, July 22nd. Finally, Morgan Stanley boosted their target price on MSCI from $662.00 to $671.00 and gave the stock an "overweight" rating in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, MSCI currently has an average rating of "Moderate Buy" and a consensus target price of $683.69.

MSCI Stock Performance

Shares of NYSE:MSCI opened at $674.44 on Thursday. The business has a 50-day simple moving average of $572.24 and a two-hundred day simple moving average of $574.41. MSCI Inc has a fifty-two week low of $501.08 and a fifty-two week high of $677.62. The firm has a market cap of $48.22 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.54 and a beta of 1.20.

MSCI (NYSE:MSCI - Get Free Report) last announced its earnings results on Tuesday, October 20th. The technology company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.08. MSCI had a negative return on equity of 50.69% and a net margin of 40.31%. The business had revenue of $892.00 million for the quarter, compared to analysts' expectations of $887.83 million. During the same period last year, the firm posted $4.47 earnings per share. The business's revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts predict that MSCI Inc will post 19.59 earnings per share for the current year.

MSCI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, November 13th. MSCI's payout ratio is currently 43.41%.

About MSCI

MSCI Inc NYSE: MSCI is a global provider of investment decision-support tools and services for institutional investors, asset managers, banks and other financial institutions. The company is best known for developing equity, fixed-income and multi-asset indexes used to benchmark portfolios and support the creation of investment products such as exchange-traded funds.

In addition to its indexes, MSCI provides portfolio analytics, risk-management and performance-attribution tools, as well as research and data covering environmental, social and governance factors, climate risk and sustainable investing.

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