Newfound Research LLC cut its position in shares of Moody’s Co. (NYSE:MCO – Get Rating) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 360 shares of the business services provider’s stock after selling 59 shares during the quarter. Newfound Research LLC’s holdings in Moody’s were worth $98,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American National Bank grew its stake in Moody’s by 177.1% during the 1st quarter. American National Bank now owns 97 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 62 shares in the last quarter. Vigilant Capital Management LLC acquired a new position in shares of Moody’s during the second quarter valued at $33,000. City State Bank acquired a new stake in shares of Moody’s in the fourth quarter valued at approximately $35,000. Tcwp LLC bought a new stake in Moody’s during the 1st quarter valued at $38,000. Finally, Prospera Financial Services Inc acquired a new position in Moody’s during the 1st quarter worth $45,000. 91.73% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, SVP Caroline Sullivan sold 326 shares of Moody’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $310.68, for a total value of $101,281.68. Following the sale, the senior vice president now owns 1,806 shares of the company’s stock, valued at approximately $561,088.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael L. West sold 780 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total value of $242,213.40. Following the completion of the transaction, the insider now directly owns 8,330 shares of the company’s stock, valued at $2,586,714.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Caroline Sullivan sold 326 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $310.68, for a total transaction of $101,281.68. Following the completion of the sale, the senior vice president now owns 1,806 shares in the company, valued at approximately $561,088.08. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
Moody’s Price Performance
Moody’s (NYSE:MCO – Get Rating) last announced its earnings results on Tuesday, July 26th. The business services provider reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12). Moody’s had a return on equity of 71.12% and a net margin of 28.92%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business earned $3.22 earnings per share. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. Research analysts expect that Moody’s Co. will post 9.47 EPS for the current year.
Moody’s Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $2.80 dividend on an annualized basis and a yield of 1.11%. Moody’s’s dividend payout ratio (DPR) is currently 30.24%.
Analyst Ratings Changes
Several brokerages have recently weighed in on MCO. Raymond James cut their price objective on Moody’s from $364.00 to $327.00 and set an “outperform” rating for the company in a report on Tuesday, July 12th. Morgan Stanley dropped their price target on Moody’s from $298.00 to $283.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 27th. BMO Capital Markets upped their target price on Moody’s from $309.00 to $352.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Oppenheimer upped their target price on Moody’s from $313.00 to $348.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded Moody’s from a “buy” rating to a “hold” rating and set a $324.00 price target for the company. in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Moody’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.92.
Moody’s Company Profile
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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