State of Alaska Department of Revenue Trims Stock Holdings in Moody’s Co. (NYSE:MCO)

State of Alaska Department of Revenue reduced its stake in shares of Moody’s Co. (NYSE:MCOGet Rating) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,070 shares of the business services provider’s stock after selling 1,590 shares during the period. State of Alaska Department of Revenue’s holdings in Moody’s were worth $6,274,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Covington Capital Management increased its stake in shares of Moody’s by 14.5% in the second quarter. Covington Capital Management now owns 490 shares of the business services provider’s stock worth $133,000 after purchasing an additional 62 shares in the last quarter. DnB Asset Management AS boosted its holdings in Moody’s by 4.7% in the 2nd quarter. DnB Asset Management AS now owns 34,148 shares of the business services provider’s stock worth $9,287,000 after buying an additional 1,537 shares during the period. Moody National Bank Trust Division increased its stake in Moody’s by 138.9% in the 2nd quarter. Moody National Bank Trust Division now owns 2,599 shares of the business services provider’s stock worth $707,000 after buying an additional 1,511 shares in the last quarter. Vigilant Capital Management LLC bought a new stake in Moody’s during the second quarter valued at about $33,000. Finally, Amalgamated Bank lifted its position in shares of Moody’s by 3.8% in the first quarter. Amalgamated Bank now owns 47,323 shares of the business services provider’s stock valued at $15,967,000 after acquiring an additional 1,754 shares in the last quarter. 91.73% of the stock is currently owned by institutional investors.

Moody’s Trading Down 0.6 %

Shares of MCO opened at $278.51 on Tuesday. The company’s fifty day simple moving average is $298.05 and its 200-day simple moving average is $301.57. The company has a market cap of $51.11 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.69 and a beta of 1.21. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.89. Moody’s Co. has a twelve month low of $251.01 and a twelve month high of $407.94.

Moody’s (NYSE:MCOGet Rating) last issued 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 net margin of 28.92% and a return on equity of 71.12%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $3.22 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, analysts expect that Moody’s Co. will post 9.47 EPS for the current year.

Moody’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, August 18th. Moody’s’s dividend payout ratio (DPR) is presently 30.24%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCO. Raymond James decreased their target price on Moody’s from $364.00 to $327.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 12th. Atlantic Securities downgraded shares of Moody’s from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $370.00 to $298.00 in a report on Wednesday, June 8th. BMO Capital Markets lifted their price target on shares of Moody’s from $309.00 to $352.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Morgan Stanley dropped their price objective on shares of Moody’s from $298.00 to $283.00 and set an “equal weight” rating for the company in a report on Wednesday, July 27th. Finally, Oppenheimer lifted their target price on Moody’s from $313.00 to $348.00 and gave the stock an “outperform” rating in a report on Friday, August 19th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Moody’s has a consensus rating of “Moderate Buy” and an average target price of $325.92.

Insiders Place Their Bets

In other news, insider Michael L. West sold 780 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total transaction of $242,213.40. Following the completion of the sale, the insider now directly owns 8,330 shares of the company’s stock, valued at $2,586,714.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Moody’s news, SVP Caroline Sullivan sold 326 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 1,806 shares in the company, valued at approximately $561,088.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael L. West sold 780 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total value of $242,213.40. Following the transaction, the insider now owns 8,330 shares in the company, valued at approximately $2,586,714.90. 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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