Tredje AP fonden reduced its stake in shares of Moody’s Co. (NYSE:MCO) by 13.8% during the 1st quarter, HoldingsChannel reports. The fund owned 12,418 shares of the business services provider’s stock after selling 1,985 shares during the period. Tredje AP fonden’s holdings in Moody’s were worth $2,931,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Moody’s in the fourth quarter worth approximately $364,459,000. Investec Asset Management LTD lifted its stake in Moody’s by 18.5% in the fourth quarter. Investec Asset Management LTD now owns 2,521,335 shares of the business services provider’s stock valued at $598,590,000 after acquiring an additional 393,988 shares during the last quarter. Capital World Investors grew its position in Moody’s by 27.3% in the fourth quarter. Capital World Investors now owns 1,809,393 shares of the business services provider’s stock worth $429,568,000 after acquiring an additional 388,527 shares in the last quarter. BlackRock Inc. increased its stake in shares of Moody’s by 2.6% during the 1st quarter. BlackRock Inc. now owns 11,203,890 shares of the business services provider’s stock worth $2,369,626,000 after purchasing an additional 286,170 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Moody’s by 28.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 842,235 shares of the business services provider’s stock valued at $178,133,000 after purchasing an additional 188,314 shares in the last quarter. 90.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of MCO traded up $3.05 during trading hours on Friday, reaching $256.82. The stock had a trading volume of 384,505 shares, compared to its average volume of 1,028,918. The company has a market cap of $47.58 billion, a P/E ratio of 31.86, a P/E/G ratio of 3.09 and a beta of 1.17. Moody’s Co. has a 52 week low of $164.19 and a 52 week high of $287.25. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 8.47. The firm has a 50-day moving average of $240.37 and a 200 day moving average of $238.27.
Moody’s (NYSE:MCO) last posted its earnings results on Thursday, April 30th. The business services provider reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.43. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Moody’s had a return on equity of 235.22% and a net margin of 30.88%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 earnings per share. As a group, equities analysts expect that Moody’s Co. will post 8.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.24 dividend on an annualized basis and a yield of 0.87%. Moody’s’s payout ratio is 27.02%.
A number of equities research analysts recently issued reports on MCO shares. UBS Group upped their price objective on shares of Moody’s from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Cantor Fitzgerald upped their price target on Moody’s from $233.00 to $266.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Morgan Stanley raised their price objective on Moody’s from $211.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Stifel Nicolaus boosted their target price on shares of Moody’s from $266.00 to $279.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. Finally, Argus lifted their target price on Moody’s from $245.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Moody’s presently has a consensus rating of “Buy” and an average price target of $263.45.
In related news, EVP John J. Goggins sold 17,927 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $251.94, for a total value of $4,516,528.38. Following the sale, the executive vice president now directly owns 63,718 shares of the company’s stock, valued at approximately $16,053,112.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen T. Tulenko sold 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $253.22, for a total transaction of $506,440.00. Following the completion of the transaction, the insider now directly owns 11,544 shares of the company’s stock, valued at $2,923,171.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,657 shares of company stock valued at $18,759,715. 0.79% of the stock is owned by company insiders.
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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