Blue Edge Capital LLC cut its position in shares of Moody’s Co. (NYSE:MCO) by 15.6% during the 1st quarter, HoldingsChannel reports. The firm owned 7,671 shares of the business services provider’s stock after selling 1,413 shares during the period. Blue Edge Capital LLC’s holdings in Moody’s were worth $1,389,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its holdings in shares of Moody’s by 0.3% during the third quarter. Vanguard Group Inc now owns 16,870,550 shares of the business services provider’s stock valued at $2,820,756,000 after acquiring an additional 55,968 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Moody’s during the fourth quarter valued at approximately $120,000. Advisors Asset Management Inc. raised its holdings in shares of Moody’s by 30.2% during the fourth quarter. Advisors Asset Management Inc. now owns 2,101 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 487 shares during the period. TD Asset Management Inc. raised its holdings in shares of Moody’s by 3.3% during the fourth quarter. TD Asset Management Inc. now owns 49,109 shares of the business services provider’s stock valued at $6,877,000 after acquiring an additional 1,586 shares during the period. Finally, ETF Managers Group LLC raised its holdings in shares of Moody’s by 15.5% during the fourth quarter. ETF Managers Group LLC now owns 804 shares of the business services provider’s stock valued at $113,000 after acquiring an additional 108 shares during the period. Institutional investors own 92.81% of the company’s stock.
In other news, SVP Melanie Hughes sold 3,039 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $197.52, for a total transaction of $600,263.28. Following the transaction, the senior vice president now owns 3,912 shares in the company, valued at approximately $772,698.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Raymond W. Mcdaniel sold 44,146 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $183.95, for a total transaction of $8,120,656.70. Following the transaction, the insider now owns 229,749 shares in the company, valued at approximately $42,262,328.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,500 shares of company stock worth $34,487,147. 0.90% of the stock is currently owned by company insiders.
MCO has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Moody’s from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. BMO Capital Markets upped their price objective on shares of Moody’s to $172.00 and gave the company a “market perform” rating in a research note on Tuesday, February 19th. Cantor Fitzgerald reiterated a “hold” rating and issued a $145.00 price objective on shares of Moody’s in a research note on Friday, February 15th. Morgan Stanley upped their price objective on shares of Moody’s from $145.00 to $150.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Piper Jaffray Companies upped their price objective on shares of Moody’s from $178.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Moody’s currently has a consensus rating of “Hold” and a consensus target price of $184.50.
Moody’s stock opened at $192.36 on Friday. The company has a market capitalization of $36.00 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.86 and a beta of 1.28. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 17.70. Moody’s Co. has a twelve month low of $129.26 and a twelve month high of $197.73.
Moody’s (NYSE:MCO) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.19. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Moody’s had a net margin of 29.38% and a return on equity of 281.55%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 EPS. Equities research analysts forecast that Moody’s Co. will post 7.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, May 20th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.00 annualized dividend and a yield of 1.04%. Moody’s’s dividend payout ratio is presently 27.06%.
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Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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