MSCI Inc . (NYSE:MSCI) Chairman and CEO Henry A. Fernandez has made significant stock purchases, according to a recent SEC filing. On December 5, Fernandez acquired a total of 2,900 shares of MSCI common stock through multiple transactions, with a total value of approximately $1.78 million. The shares were bought at prices ranging from $610.00 to $614.08 per share, near the stock's 52-week high of $631.70. The company, currently valued at $48.37 billion, trades at a P/E ratio of 40.4x. According to InvestingPro analysis, MSCI appears overvalued at current levels.
These transactions were made through the Fernandez 2007 Children's Trust, reflecting indirect ownership. Following these purchases, Fernandez's indirect holdings in MSCI increased to 330,379 shares. Additionally, Fernandez has direct ownership of 1,238,560 shares and other indirect holdings through various trusts and family members, including the Henry Fernandez 2024 MSCI Annuity Trust and shares held by his children. MSCI maintains strong financial health with a "GREAT" overall score on InvestingPro, supported by 16% revenue growth and consistent dividend payments. Discover more insights with InvestingPro's comprehensive research report, covering what really matters about MSCI's financial performance.
In other recent news, MSCI Inc. reported significant growth in its Q3 2024 earnings, despite market pressures. The company's total revenue grew by 16%, with an increase in adjusted earnings per share by 12% and free cash flow by 46%. Notably, MSCI repurchased $199 million worth of shares, making a total of $440 million for the year.
There was a nearly 20% growth in asset-based fee revenue, a 15% increase in subscription run rate, and a 94% retention rate. The company also achieved a record in assets under management (AUM) in ETFs and non-ETF products, reaching $18.6 billion in ETF cash flows for the quarter.
Despite a temporary downturn in ESG and Climate services, the company anticipates long-term growth in these segments. However, MSCI also expects continued elevated cancellation activity and longer sales cycles, which may impact retention rates.
On the brighter side, MSCI achieved a record AUM of $5.4 trillion across ETFs and non-ETF index products. The company reported 8% growth in analytics subscription run rate and 11% growth in the ESG and climate segment. MSCI management is focused on strengthening leadership in ESG and private credit sectors for long-term growth. These are some of the latest developments in the company's performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.