Bank of New York Mellon Corp Has $248.69 Million Stake in MSCI Inc. (NYSE:MSCI)

Bank of New York Mellon Corp lowered its stake in shares of MSCI Inc. (NYSE:MSCI) by 1.4% during the second quarter, HoldingsChannel reports. The fund owned 516,223 shares of the technology company’s stock after selling 7,289 shares during the quarter. Bank of New York Mellon Corp’s holdings in MSCI were worth $248,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of MSCI. Rise Advisors LLC acquired a new position in shares of MSCI during the first quarter valued at about $26,000. Crewe Advisors LLC bought a new position in MSCI during the first quarter valued at about $34,000. American National Bank raised its holdings in MSCI by 1,300.0% in the 4th quarter. American National Bank now owns 70 shares of the technology company’s stock valued at $40,000 after acquiring an additional 65 shares in the last quarter. First United Bank & Trust bought a new stake in shares of MSCI in the 4th quarter worth approximately $48,000. Finally, Carolinas Wealth Consulting LLC grew its holdings in shares of MSCI by 36.1% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 98 shares of the technology company’s stock worth $55,000 after purchasing an additional 26 shares in the last quarter. 89.97% of the stock is owned by institutional investors.

MSCI Stock Performance

MSCI stock opened at $575.63 on Tuesday. The business’s fifty day moving average is $518.95 and its two-hundred day moving average is $521.47. The firm has a market cap of $45.60 billion, a P/E ratio of 39.29, a P/E/G ratio of 3.00 and a beta of 1.10. MSCI Inc. has a 52 week low of $439.95 and a 52 week high of $617.39.

MSCI (NYSE:MSCI) last issued its quarterly earnings results on Tuesday, July 23rd. The technology company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.55 by $0.09. MSCI had a net margin of 43.86% and a negative return on equity of 143.09%. The business had revenue of $707.90 million for the quarter, compared to the consensus estimate of $696.41 million. During the same quarter in the prior year, the company earned $3.26 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities research analysts predict that MSCI Inc. will post 14.78 earnings per share for the current year.

MSCI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Friday, August 16th. This represents a $6.40 annualized dividend and a dividend yield of 1.11%. MSCI’s dividend payout ratio (DPR) is currently 43.69%.

Analysts Set New Price Targets

MSCI has been the subject of several research reports. Argus raised their target price on MSCI from $520.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Redburn Atlantic raised shares of MSCI from a “neutral” rating to a “buy” rating and set a $485.00 price objective for the company in a report on Monday, May 13th. UBS Group lifted their target price on shares of MSCI from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Bank of America raised shares of MSCI from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $425.00 to $525.00 in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company raised MSCI to a “hold” rating in a report on Tuesday, August 13th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $584.79.

About MSCI

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.