Commonwealth Equity Services LLC raised its position in shares of Moody’s Co. (NYSE:MCO – Get Rating) by 18.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,035 shares of the business services provider’s stock after purchasing an additional 3,453 shares during the period. Commonwealth Equity Services LLC’s holdings in Moody’s were worth $7,435,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of MCO. Norges Bank bought a new stake in Moody’s during the 4th quarter valued at $563,519,000. BlackRock Inc. raised its position in shares of Moody’s by 5.8% in the 4th quarter. BlackRock Inc. now owns 11,818,749 shares of the business services provider’s stock worth $4,616,166,000 after acquiring an additional 646,180 shares in the last quarter. Castleview Partners LLC bought a new position in shares of Moody’s in the 4th quarter worth $936,000. State Street Corp raised its position in shares of Moody’s by 3.1% in the 4th quarter. State Street Corp now owns 7,416,456 shares of the business services provider’s stock worth $2,896,719,000 after acquiring an additional 222,009 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Moody’s by 2,546.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 226,891 shares of the business services provider’s stock worth $88,619,000 after acquiring an additional 218,316 shares in the last quarter. 91.43% of the stock is owned by institutional investors.
Analysts Set New Price Targets
MCO has been the topic of several recent analyst reports. Barclays lowered Moody’s from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $350.00 to $285.00 in a research report on Friday, June 3rd. Royal Bank of Canada dropped their price target on Moody’s from $344.00 to $329.00 in a research note on Tuesday, June 7th. Credit Suisse Group lowered their target price on Moody’s from $395.00 to $350.00 in a research note on Tuesday, May 3rd. Morgan Stanley lowered their target price on Moody’s from $298.00 to $283.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 27th. Finally, Atlantic Securities cut Moody’s from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $370.00 to $298.00 in a report on Wednesday, June 8th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $329.25.
Insider Transactions at Moody’s
Moody’s Trading Down 0.9 %
MCO opened at $307.51 on Tuesday. Moody’s Co. has a 52 week low of $251.01 and a 52 week high of $407.94. The business has a fifty day simple moving average of $282.14 and a 200-day simple moving average of $309.20. The firm has a market cap of $56.74 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.98 and a beta of 1.20. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.89.
Moody’s (NYSE:MCO – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The business services provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). Moody’s had a return on equity of 71.12% and a net margin of 28.92%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business earned $3.22 earnings per share. The company’s quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts expect that Moody’s Co. will post 9.48 earnings per share for the current year.
Moody’s Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, August 18th. This represents a $2.80 annualized dividend and a dividend yield of 0.91%. Moody’s’s dividend payout ratio is currently 30.24%.
Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as and structured finance securities.
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