Moody’s Co. (NYSE:MCO) Shares Bought by Bank of America Corp DE

Bank of America Corp DE raised its holdings in Moody’s Co. (NYSE:MCOGet Rating) by 22.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 771,664 shares of the business services provider’s stock after buying an additional 141,946 shares during the period. Bank of America Corp DE owned about 0.42% of Moody’s worth $260,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. American National Bank increased its position in shares of Moody’s by 177.1% during the first quarter. American National Bank now owns 97 shares of the business services provider’s stock worth $33,000 after purchasing an additional 62 shares in the last quarter. City State Bank acquired a new stake in shares of Moody’s during the fourth quarter worth about $35,000. Tcwp LLC acquired a new stake in shares of Moody’s during the first quarter worth about $38,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Moody’s during the fourth quarter worth about $51,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of Moody’s during the first quarter worth about $45,000. 91.73% of the stock is currently owned by institutional investors and hedge funds.

Moody’s Price Performance

MCO stock opened at $278.51 on Tuesday. The firm has a 50 day moving average of $298.05 and a 200-day moving average of $301.57. Moody’s Co. has a 12-month low of $251.01 and a 12-month high of $407.94. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.89. The company has a market cap of $51.11 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.69 and a beta of 1.21.

Moody’s (NYSE:MCOGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The business services provider reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Moody’s had a net margin of 28.92% and a return on equity of 71.12%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business posted $3.22 earnings per share. Moody’s’s revenue was down 11.1% on a year-over-year basis. As a group, equities analysts expect that Moody’s Co. will post 9.47 EPS for the current fiscal year.

Moody’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $2.80 annualized dividend and a dividend yield of 1.01%. Moody’s’s dividend payout ratio is currently 30.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Moody’s from $344.00 to $329.00 in a report on Tuesday, June 7th. Atlantic Securities lowered Moody’s from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $370.00 to $298.00 in a report on Wednesday, June 8th. Barclays lowered Moody’s from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $350.00 to $285.00 in a report on Friday, June 3rd. Deutsche Bank Aktiengesellschaft lowered Moody’s from a “buy” rating to a “hold” rating and set a $324.00 price target on the stock. in a report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Oppenheimer raised their price target on Moody’s from $313.00 to $348.00 and gave the stock an “outperform” rating in a report on Friday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Moody’s has a consensus rating of “Moderate Buy” and a consensus target price of $325.92.

Insider Buying and Selling

In related news, insider Michael L. West sold 780 shares of Moody’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $310.53, for a total transaction of $242,213.40. Following the completion of the transaction, the insider now directly owns 8,330 shares in the company, valued at approximately $2,586,714.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael L. West sold 780 shares of Moody’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $310.53, for a total transaction of $242,213.40. Following the completion of the transaction, the insider now directly owns 8,330 shares in the company, valued at approximately $2,586,714.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Caroline Sullivan sold 326 shares of Moody’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $310.68, for a total value of $101,281.68. Following the transaction, the senior vice president now owns 1,806 shares of the company’s stock, valued at $561,088.08. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

About Moody’s

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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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Institutional Ownership by Quarter for Moody's (NYSE:MCO)

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