Scotia Capital Inc. Grows Stock Position in MSCI Inc (NYSE:MSCI)

Key Points

• Scotia Capital Inc. increased its stake in MSCI Inc by 77.0%, holding 13,094 shares valued at approximately $7,405,000.
• Brokerages have expressed optimism for MSCI, with ratings ranging from "market perform" to "outperform," and an average price target of $654.73.
• MSCI announced a quarterly dividend of $1.80 per share, reflecting a 1.3% dividend yield, with a payout ratio of 47.68%.

Scotia Capital Inc. grew its position in MSCI Inc (NYSE:MSCI - Free Report) by 77.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,094 shares of the technology company's stock after acquiring an additional 5,697 shares during the quarter. Scotia Capital Inc.'s holdings in MSCI were worth $7,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Menard Financial Group LLC purchased a new position in MSCI during the fourth quarter worth approximately $26,000. Olde Wealth Management LLC purchased a new position in MSCI during the first quarter worth approximately $27,000. Meeder Asset Management Inc. lifted its position in MSCI by 136.4% during the first quarter. Meeder Asset Management Inc. now owns 52 shares of the technology company's stock worth $29,000 after buying an additional 30 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in MSCI by 50.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 66 shares of the technology company's stock worth $37,000 after buying an additional 22 shares in the last quarter. Finally, Johnson Financial Group Inc. lifted its position in MSCI by 293.8% during the fourth quarter. Johnson Financial Group Inc. now owns 63 shares of the technology company's stock worth $38,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 89.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MSCI. Oppenheimer reiterated a "market perform" rating on shares of MSCI in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $675.00 target price on shares of MSCI in a research note on Wednesday, April 16th. JPMorgan Chase & Co. raised their target price on MSCI from $650.00 to $680.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Bank of America initiated coverage on MSCI in a research note on Thursday, April 10th. They set a "neutral" rating and a $585.00 target price for the company. Finally, Raymond James Financial raised MSCI from a "market perform" rating to an "outperform" rating and set a $650.00 target price for the company in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, MSCI currently has an average rating of "Moderate Buy" and a consensus price target of $654.73.

MSCI Trading Down 0.7%

Shares of NYSE MSCI opened at $557.28 on Monday. MSCI Inc has a twelve month low of $486.73 and a twelve month high of $642.45. The stock has a fifty day simple moving average of $563.64 and a 200-day simple moving average of $564.73. The stock has a market capitalization of $43.11 billion, a PE ratio of 36.91, a PEG ratio of 2.33 and a beta of 1.29.

MSCI (NYSE:MSCI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $4.17 earnings per share for the quarter, beating analysts' consensus estimates of $4.12 by $0.05. MSCI had a negative return on equity of 143.13% and a net margin of 39.46%. The business had revenue of $772.68 million during the quarter, compared to analysts' expectations of $763.06 million. During the same period in the previous year, the firm posted $3.64 earnings per share. The company's revenue was up 9.1% on a year-over-year basis. On average, equities analysts predict that MSCI Inc will post 16.86 earnings per share for the current year.

MSCI Announces Dividend

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

Insider Buying and Selling at MSCI

In related news, CEO Henry A. Fernandez bought 84 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $548.69 per share, for a total transaction of $46,089.96. Following the completion of the acquisition, the chief executive officer owned 1,279,951 shares in the company, valued at approximately $702,296,314.19. This trade represents a 0.01% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 12,400 shares of company stock valued at $6,731,599 over the last ninety days. Insiders own 3.31% of the company's stock.

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.

Want to see what other hedge funds are holding MSCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MSCI Inc (NYSE:MSCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.