Inverness Counsel LLC NY Sells 1,004 Shares of MSCI Inc. (NYSE:MSCI)

Inverness Counsel LLC NY cut its holdings in shares of MSCI Inc. (NYSE:MSCI) by 4.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,040 shares of the technology company’s stock after selling 1,004 shares during the period. Inverness Counsel LLC NY’s holdings in MSCI were worth $12,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Red Door Wealth Management LLC purchased a new stake in MSCI during the second quarter valued at approximately $28,000. Lloyd Advisory Services LLC. lifted its position in MSCI by 45.5% during the second quarter. Lloyd Advisory Services LLC. now owns 64 shares of the technology company’s stock valued at $34,000 after acquiring an additional 20 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in MSCI during the first quarter valued at approximately $28,000. SRS Capital Advisors Inc. purchased a new stake in MSCI during the second quarter valued at approximately $38,000. Finally, Clean Yield Group purchased a new stake in MSCI during the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 90.61% of the company’s stock.

Shares of MSCI stock traded up $0.66 during trading on Wednesday, hitting $653.93. 2,103 shares of the company’s stock were exchanged, compared to its average volume of 385,224. The business has a 50-day simple moving average of $609.95 and a 200-day simple moving average of $515.16. MSCI Inc. has a 52-week low of $336.03 and a 52-week high of $667.07. The stock has a market capitalization of $53.91 billion, a price-to-earnings ratio of 77.96 and a beta of 0.97.

MSCI (NYSE:MSCI) last released its quarterly earnings results on Tuesday, July 27th. The technology company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. The company had revenue of $498.20 million for the quarter, compared to analyst estimates of $490.25 million. MSCI had a net margin of 37.97% and a negative return on equity of 180.78%. The firm’s revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the business earned $1.77 earnings per share. Sell-side analysts forecast that MSCI Inc. will post 9.75 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Friday, August 13th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, August 12th. This is a positive change from MSCI’s previous quarterly dividend of $0.78. MSCI’s dividend payout ratio (DPR) is currently 53.13%.

A number of research firms have issued reports on MSCI. Barclays raised their price target on shares of MSCI from $545.00 to $700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Oppenheimer raised their price target on shares of MSCI from $566.00 to $626.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Royal Bank of Canada began coverage on shares of MSCI in a report on Wednesday, July 7th. They issued an “outperform” rating and a $600.00 price target for the company. Morgan Stanley raised their price target on shares of MSCI from $480.00 to $523.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 28th. Finally, Zacks Investment Research raised shares of MSCI from a “hold” rating to a “buy” rating and set a $621.00 price target for the company in a report on Thursday, July 29th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, MSCI presently has an average rating of “Buy” and a consensus target price of $597.57.

In other news, insider Jennifer H. Mak sold 300 shares of MSCI stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $622.38, for a total value of $186,714.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Cd Baer Pettit sold 2,500 shares of MSCI stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $622.95, for a total transaction of $1,557,375.00. Following the completion of the sale, the chief operating officer now owns 251,837 shares in the company, valued at approximately $156,881,859.15. The disclosure for this sale can be found here. 2.93% of the stock is currently owned by company insiders.

MSCI Profile

MSCI, Inc engages in the provision of investment decision support tools including indices, portfolio risk and performance analytics and corporate governance products and services. The company operates through the following business segments: Index, Analytics, Environmental, Social, and Governance (ESG), Real Estate, and Burgiss.

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Institutional Ownership by Quarter for MSCI (NYSE:MSCI)

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