Loomis Sayles & Co. L P has raised its investment in MSCI Inc. (NYSE: MSCI) by 3.9% during the second quarter of 2023, according to the firm’s recent Form 13F filing with the Securities and Exchange Commission (SEC). The investment firm now holds 76,292 shares of the technology company, following the acquisition of an additional 2,898 shares during the quarter. As of the latest SEC filing, Loomis Sayles’ stake in MSCI is valued at approximately $44 million.
Several other institutional investors have also adjusted their positions in MSCI. For instance, Meeder Asset Management Inc. increased its holdings by a remarkable 136.4% in the first quarter, bringing its total to 52 shares valued at $29,000. Similarly, Banque Transatlantique SA grew its stake by 355.6% in the same quarter, now owning 82 shares valued at $43,000. In another significant move, Caitong International Asset Management Co. Ltd increased its position by an extraordinary 2,666.7%, owning 83 shares valued at $47,000.
The trend of institutional investment continues, with Migdal Insurance & Financial Holdings Ltd. also lifting its stake in MSCI by 47.0% during the second quarter. They now own 97 shares worth $56,000. Overall, institutional investors own an impressive 89.97% of MSCI’s stock.
Analyst Ratings and Stock Performance
Recent reports from various equity research analysts reflect a positive outlook for MSCI. Wells Fargo & Company raised its target price for MSCI shares from $533.00 to $570.00 while maintaining an “equal weight” rating. On the same day, JPMorgan Chase & Co. increased its price objective from $655.00 to $680.00 with an “overweight” rating. Barclays echoed this sentiment, adjusting their target from $650.00 to $660.00 and assigning an “overweight” rating.
As of the most recent trading session, MSCI stock opened at $560.60. The company has experienced a 52-week low of $486.73 and a high of $642.45. With a market capitalization of $42.12 billion, MSCI’s stock exhibits a P/E ratio of 35.53 and a beta of 1.34. The fifty-day moving average stands at $562.25, while the 200-day moving average is $563.52.
MSCI released its earnings results on October 28, 2023, reporting earnings per share (EPS) of $4.47, surpassing analysts’ expectations of $4.37 by $0.10. The firm generated revenue of $793.43 million for the quarter, slightly below the anticipated $794.87 million. Compared to the previous year, MSCI’s revenue grew by 9.5%, with the same quarter last year yielding an EPS of $3.86. Analysts forecast an EPS of 16.86 for the current year.
Dividends and Corporate Actions
MSCI also announced a quarterly dividend of $1.80 per share, which was paid to investors on November 28, 2023. This dividend translates to an annualized rate of $7.20, yielding 1.3%. The ex-dividend date was set for November 14, 2023, and the company’s current dividend payout ratio stands at 45.63%.
In a strategic move, MSCI’s Board of Directors has authorized a stock repurchase program worth $3 billion, allowing the company to buy back up to 7.1% of its stock. Such buyback initiatives often indicate that the board perceives the company’s shares as undervalued.
In other corporate news, General Counsel Robert J. Gutowski sold 624 shares of MSCI stock on November 24, 2023, at an average price of $558.42, totaling $348,454.08. Following this transaction, Gutowski retains 15,945 shares valued at approximately $8.9 million, marking a 3.77% reduction in his ownership.
As MSCI Inc. continues to evolve within the investment community, its strategic decisions and the actions of institutional investors will likely play a significant role in shaping its future performance.
