Empirical Finance LLC boosted its stake in Moody’s Co. (NYSE:MCO) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,920 shares of the business services provider’s stock after purchasing an additional 270 shares during the quarter. Empirical Finance LLC’s holdings in Moody’s were worth $696,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Arkadios Wealth Advisors raised its stake in Moody’s by 650.0% in the second quarter. Arkadios Wealth Advisors now owns 90 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 78 shares in the last quarter. Certified Advisory Corp bought a new stake in shares of Moody’s during the first quarter worth about $35,000. Allred Capital Management LLC bought a new stake in shares of Moody’s during the first quarter worth about $36,000. Glassman Wealth Services grew its holdings in shares of Moody’s by 40.4% during the first quarter. Glassman Wealth Services now owns 132 shares of the business services provider’s stock worth $39,000 after purchasing an additional 38 shares during the last quarter. Finally, Hilton Capital Management LLC acquired a new position in shares of Moody’s in the 1st quarter worth approximately $60,000. 90.93% of the stock is owned by institutional investors and hedge funds.
MCO has been the subject of several research analyst reports. UBS Group downgraded shares of Moody’s from a “buy” rating to a “neutral” rating and lifted their price target for the company from $383.00 to $392.00 in a research note on Thursday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Moody’s from $325.00 to $375.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Stifel Nicolaus upped their price objective on shares of Moody’s from $322.00 to $376.00 and gave the stock a “hold” rating in a research report on Tuesday, July 6th. Morgan Stanley upped their price objective on shares of Moody’s from $344.00 to $372.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 29th. Finally, Zacks Investment Research raised shares of Moody’s from a “hold” rating to a “buy” rating and set a $395.00 target price for the company in a research report on Tuesday, June 29th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Moody’s presently has an average rating of “Buy” and a consensus target price of $386.64.
Moody’s (NYSE:MCO) last released its quarterly earnings results on Wednesday, July 28th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.46. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.49 billion. Moody’s had a return on equity of 111.33% and a net margin of 36.11%. On average, equities analysts predict that Moody’s Co. will post 11.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 20th were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, August 19th. This represents a $2.48 annualized dividend and a dividend yield of 0.65%. Moody’s’s dividend payout ratio (DPR) is 24.43%.
In related news, CFO Mark Kaye sold 3,133 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $379.69, for a total transaction of $1,189,568.77. Following the completion of the transaction, the chief financial officer now owns 4,901 shares in the company, valued at approximately $1,860,860.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Fauber sold 447 shares of the business’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $362.50, for a total transaction of $162,037.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,266 shares of company stock worth $2,371,014 over the last ninety days. Insiders own 0.50% of the company’s stock.
Moody’s Corp. engages in the provision of credit ratings, research, tools and analysis to the global capital markets. It operates through the following segments: Moody’s Investors Service (MIS) and Moody’s Analytics (MA). The MIS segment is a credit rating agency, which publishes credit ratings on debt obligations and the entities, including various corporate and governmental obligations, structured finance securities and commercial paper programs.
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