Date: September 14, 2023
State Board of Administration of Florida Retirement System Reduces Stake in MSCI Inc.
The State Board of Administration of Florida Retirement System has recently decreased its investment in MSCI Inc., a technology company listed on the New York Stock Exchange under the ticker symbol MSCI. According to the company’s Form 13F filing with the SEC, the state pension fund cut its stake by 3.3% during the first quarter of this year, selling approximately 3,000 shares. At the end of the reporting period, it owned a total of 88,097 shares, representing around 0.11% of MSCI’s market value equivalent to $49,307,000.
Earnings Results and Analyst Estimates:
On July 25th, MSCI released its earnings report for the quarter. The company reported earnings per share (EPS) of $3.26, surpassing analysts’ consensus estimates by $0.15. This positive outcome indicates strong financial performance during that period. Despite having a negative return on equity of 93.06%, MSCI managed to achieve a net margin of 39.02%.
MSCI recorded revenue of $621.16 million for the quarter under review, exceeding analyst estimates of $602.47 million and marking a growth rate of 12.6% compared to the same period last year. These figures indicate a healthy revenue stream and demonstrate MSCI’s ability to generate consistent growth in its top line.
With these impressive results and optimistic projections from sell-side analysts, it is expected that MSCI will post an EPS figure of $13.12 for the current fiscal year based on their forecasts. This outlook reflects confidence in the company’s ability to maintain its profitability and sustain growth.
The decision made by the State Board of Administration of Florida Retirement System to reduce its stake in MSCI Inc. suggests a change in investment strategy or a response to market conditions. Nevertheless, MSCI’s strong earnings report and positive revenue growth indicate that the company remains on a solid financial footing. As the technology sector continues to evolve and adapt, investors will closely monitor MSCI’s performance to assess its potential as a long-term investment opportunity.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Investing in stocks involves risks, and readers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.
Institutional Investors and Hedge Funds Show Growing Interest in MSCI Amid Stock Adjustments and Analyst Evaluations
Institutional investors and hedge funds have recently shown a notable interest in MSCI, as evidenced by the modifications made to their holdings of the stock. One such investor, Manchester Capital Management LLC, saw an impressive increase of 657.1% in its holdings during the first quarter. This resulted in Manchester Capital Management LLC now owning 53 shares of MSCI’s stock, with a value of $30,000 after purchasing an additional 46 shares during this period. Another investor, Toth Financial Advisory Corp, entered a new position in MSCI during the same quarter with a value of $31,000. Elequin Securities LLC also joined the list of investors by acquiring a stake worth around $27,000 during the fourth quarter. Similarly, OLD Mission Capital LLC obtained a new stake worth approximately $29,000 in MSCI during the same quarter. Finally, Atlas Capital Advisors LLC rounded out this list by acquiring a new position worth about $35,000 in MSCI during the first quarter. It is intriguing to note that institutional investors currently hold 88.61% of the company’s stock.
On September 14th, NYSE MSCI opened at $535.25 per share. Over the past year, MSCI Inc.’s stock has ranged from a low of $385.00 to a high of $572.50. At present, the company maintains a fifty-day simple moving average of $528.39 and a two-hundred-day simple moving average of $510.72. With a market capitalization amounting to approximately $42.34 billion and a P/E ratio standing at 46.91 along with its beta of 1.13 and P/E/G ratio of 2.83.
It is important to mention that MSCI recently announced its quarterly dividend payment on August 31st which was distributed to its investors who were recorded as shareholders on August 11th receiving a $1.38 dividend. The ex-dividend date for this particular dividend was on August 10th. On an annualized basis, this represents a dividend payout of $5.52 and a yield of 1.03%. MSCI presently has a dividend payout ratio of 48.38%.
A number of equities research analysts have lately provided their assessments on the stock’s performance. For instance, Redburn Atlantic downgraded MSCI from an “overweight” rating to a “neutral” rating and adjusted their price target from $650.00 to $554.00 in a report released on Thursday. Meanwhile, Royal Bank of Canada likewise reduced their target price for the company from $600.00 to $545.00 in a report published on Monday, July 10th. Conversely, The Goldman Sachs Group raised their target price for MSCI from $510.00 to $582.00 but maintained a “neutral” rating in an analyst’s report on Wednesday, July 26th. Similarly, Wells Fargo & Company increased their price target on MSCI from $570.00 to $640.00 in their research note released on Wednesday, July 26th.
With differing opinions among analysts, it is noteworthy that according to data sourced from Bloomberg, MSCI currently holds a consensus rating of “Hold,” with an average target price estimated at approximately $564.14.
In conclusion, institutional investors and hedge funds have demonstrated a reinvigorated interest in MSCI as evidenced by recent adjustments made to their holdings of the company’s stock. Furthermore, key financial indicators such as stock prices and dividends indicate stability within the organization while also attracting attention from equity research analysts who hold varying opinions regarding its future performance in the market.