Canandaigua National Bank & Trust Co. Invests $781,000 in MSCI Inc $MSCI

Canandaigua National Bank & Trust Co. purchased a new stake in shares of MSCI Inc (NYSE:MSCI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,395 shares of the technology company’s stock, valued at approximately $781,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in MSCI in the fourth quarter worth approximately $528,560,000. Bamco Inc. NY increased its position in MSCI by 15.1% during the fourth quarter. Bamco Inc. NY now owns 2,755,747 shares of the technology company’s stock worth $1,581,055,000 after buying an additional 361,630 shares during the last quarter. Generation Investment Management LLP bought a new position in MSCI during the fourth quarter valued at about $130,380,000. T. Rowe Price Investment Management Inc. lifted its position in shares of MSCI by 13.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,446,291 shares of the technology company’s stock worth $829,781,000 after buying an additional 168,405 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of MSCI by 27.6% during the 2nd quarter. Bank of America Corp DE now owns 724,618 shares of the technology company’s stock valued at $417,916,000 after acquiring an additional 156,891 shares during the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.

MSCI Stock Down 0.0%

Shares of MSCI stock opened at $571.40 on Thursday. MSCI Inc has a 12-month low of $501.08 and a 12-month high of $644.77. The company has a 50-day simple moving average of $594.74 and a 200 day simple moving average of $576.12. The stock has a market capitalization of $41.54 billion, a P/E ratio of 31.26, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23.

MSCI (NYSE:MSCI) last announced its earnings results on Tuesday, July 21st. The technology company reported $4.94 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.05). The business had revenue of $867.00 million during the quarter, compared to analyst estimates of $870.71 million. MSCI had a negative return on equity of 55.19% and a net margin of 40.74%.The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.17 earnings per share. On average, equities analysts anticipate that MSCI Inc will post 19.61 earnings per share for the current year.

MSCI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 14th. MSCI’s dividend payout ratio is presently 44.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MSCI shares. Raymond James Financial upped their target price on MSCI from $730.00 to $760.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 8th. Bank of America raised their target price on shares of MSCI from $715.00 to $730.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Rothschild & Co Redburn set a $690.00 price target on shares of MSCI in a report on Thursday, June 18th. Barclays boosted their price objective on MSCI from $700.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Finally, Jefferies Financial Group started coverage on MSCI in a report on Friday, July 17th. They issued a “buy” rating and a $760.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $709.50.

About MSCI

MSCI Inc is a global provider of investment decision support tools and services for the financial industry. The company is best known for its family of market indexes, which are widely used as benchmarks by asset managers and as the basis for exchange-traded funds and other passive products. In addition to index construction and licensing, MSCI offers portfolio analytics, risk models, factor and performance attribution tools, and a suite of data and technology solutions designed to support portfolio management and trading.

Beyond traditional indexing and risk analytics, MSCI has expanded into environmental, social and governance (ESG) research and ratings, offering data, scores and screening tools that help investors integrate sustainability considerations into investment processes.