Huntington National Bank trimmed its stake in Moody’s Co. (NYSE:MCO) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,798 shares of the business services provider’s stock after selling 184 shares during the quarter. Huntington National Bank’s holdings in Moody’s were worth $1,868,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Fred Alger Management LLC acquired a new position in shares of Moody’s during the first quarter valued at about $26,000. Jacobi Capital Management LLC grew its stake in Moody’s by 941.7% during the second quarter. Jacobi Capital Management LLC now owns 1,000 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 904 shares in the last quarter. Allred Capital Management LLC grew its stake in Moody’s by 42.4% during the first quarter. Allred Capital Management LLC now owns 141 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. MBE Wealth Management LLC purchased a new position in Moody’s in the 1st quarter worth approximately $44,000. Finally, EPG Wealth Management LLC grew its stake in Moody’s by 132.4% in the 1st quarter. EPG Wealth Management LLC now owns 244 shares of the business services provider’s stock worth $52,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.
In related news, CEO Raymond W. Mcdaniel sold 7,500 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $245.64, for a total value of $1,842,300.00. Following the completion of the transaction, the chief executive officer now owns 242,131 shares of the company’s stock, valued at $59,477,058.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen T. Tulenko sold 1,500 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $293.01, for a total value of $439,515.00. Following the completion of the transaction, the insider now directly owns 8,044 shares of the company’s stock, valued at approximately $2,356,972.44. The disclosure for this sale can be found here. Insiders sold 60,727 shares of company stock valued at $16,235,465 over the last quarter. Insiders own 0.79% of the company’s stock.
MCO traded down $2.47 during trading on Friday, hitting $281.30. 925,639 shares of the stock were exchanged, compared to its average volume of 575,974. The firm has a market capitalization of $52.74 billion, a P/E ratio of 34.90, a PEG ratio of 3.14 and a beta of 1.19. Moody’s Co. has a 1-year low of $164.19 and a 1-year high of $296.66. The stock has a fifty day moving average price of $281.46 and a two-hundred day moving average price of $255.09. The company has a quick ratio of 1.70, a current ratio of 2.10 and a debt-to-equity ratio of 9.17.
Moody’s (NYSE:MCO) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.55. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.23 billion. Moody’s had a return on equity of 204.46% and a net margin of 33.38%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. Analysts predict that Moody’s Co. will post 9.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be issued a $0.56 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.80%. Moody’s’s dividend payout ratio (DPR) is 27.02%.
Several research analysts have commented on the stock. Credit Suisse Group restated a “buy” rating and issued a $330.00 price objective on shares of Moody’s in a report on Tuesday, July 28th. UBS Group increased their price objective on shares of Moody’s from $344.00 to $358.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets raised their price target on shares of Moody’s from $285.00 to $298.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Wells Fargo & Co increased their price objective on shares of Moody’s from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Zacks Investment Research upgraded shares of Moody’s from a “hold” rating to a “buy” rating and set a $298.00 target price on the stock in a research note on Tuesday, July 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $290.75.
Moody’s Company Profile
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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