Apollon Wealth Management LLC Sells 1,798 Shares of MSCI Inc $MSCI

Apollon Wealth Management LLC decreased its position in shares of MSCI Inc (NYSE:MSCI) by 32.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,703 shares of the technology company’s stock after selling 1,798 shares during the quarter. Apollon Wealth Management LLC’s holdings in MSCI were worth $2,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ritholtz Wealth Management boosted its stake in MSCI by 23.2% during the 1st quarter. Ritholtz Wealth Management now owns 812 shares of the technology company’s stock worth $459,000 after acquiring an additional 153 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in MSCI by 336.4% during the 1st quarter. Golden State Wealth Management LLC now owns 96 shares of the technology company’s stock worth $54,000 after acquiring an additional 74 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in MSCI by 10.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,882 shares of the technology company’s stock worth $5,123,000 after acquiring an additional 809 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in MSCI by 6.5% during the 1st quarter. Crestwood Advisors Group LLC now owns 524 shares of the technology company’s stock worth $296,000 after acquiring an additional 32 shares during the last quarter. Finally, Ascent Group LLC bought a new position in MSCI during the 1st quarter worth approximately $288,000. Institutional investors own 89.97% of the company’s stock.

Wall Street Analysts Forecast Growth

MSCI has been the topic of a number of research reports. Raymond James Financial raised shares of MSCI from a “market perform” rating to an “outperform” rating and set a $650.00 price target on the stock in a research note on Friday, July 25th. Seaport Res Ptn raised shares of MSCI to a “strong-buy” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price target on shares of MSCI from $625.00 to $655.00 and gave the company an “overweight” rating in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MSCI in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on shares of MSCI from $578.00 to $533.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, MSCI presently has an average rating of “Moderate Buy” and an average target price of $649.70.

Insiders Place Their Bets

In other news, CEO Henry A. Fernandez bought 9,916 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were acquired at an average cost of $544.70 per share, for a total transaction of $5,401,245.20. Following the completion of the acquisition, the chief executive officer owned 1,279,867 shares in the company, valued at approximately $697,143,554.90. This represents a 0.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 12,400 shares of company stock worth $6,731,599 in the last 90 days. 3.31% of the stock is currently owned by insiders.

MSCI Stock Down 2.1%

Shares of MSCI stock opened at $546.69 on Monday. The company’s fifty day simple moving average is $564.01 and its 200-day simple moving average is $559.18. The firm has a market cap of $42.29 billion, a PE ratio of 36.20, a P/E/G ratio of 2.67 and a beta of 1.33. MSCI Inc has a 12 month low of $486.73 and a 12 month high of $642.45.

MSCI (NYSE:MSCI) last announced its quarterly earnings data on Tuesday, July 22nd. The technology company reported $4.17 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $0.05. The business had revenue of $772.68 million for the quarter, compared to analyst estimates of $763.06 million. MSCI had a net margin of 39.46% and a negative return on equity of 143.13%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.64 earnings per share. On average, equities analysts predict that MSCI Inc will post 16.86 earnings per share for the current fiscal year.

MSCI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, August 15th. MSCI’s payout ratio is presently 47.68%.

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.