Piedmont Investment Advisors LLC boosted its stake in shares of Moody’s Corporation (NYSE:MCO) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,801 shares of the business services provider’s stock after buying an additional 720 shares during the period. Piedmont Investment Advisors LLC’s holdings in Moody’s Corporation were worth $4,571,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCO. BLS Capital Fondsmaeglerselskab A S purchased a new position in shares of Moody’s Corporation during the fourth quarter valued at $23,947,000. Federated Investors Inc. PA increased its position in shares of Moody’s Corporation by 0.4% in the fourth quarter. Federated Investors Inc. PA now owns 4,304 shares of the business services provider’s stock valued at $406,000 after buying an additional 19 shares during the last quarter. Menta Capital LLC purchased a new position in shares of Moody’s Corporation during the fourth quarter valued at $273,000. AQR Capital Management LLC increased its position in shares of Moody’s Corporation by 1.0% in the fourth quarter. AQR Capital Management LLC now owns 10,089 shares of the business services provider’s stock valued at $951,000 after buying an additional 96 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Moody’s Corporation by 5.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,780 shares of the business services provider’s stock valued at $545,000 after buying an additional 310 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Moody’s Corporation (NYSE MCO) traded up 0.24% during mid-day trading on Friday, hitting $132.21. The stock had a trading volume of 677,659 shares. The company has a 50-day moving average of $123.89 and a 200 day moving average of $114.74. The firm has a market cap of $25.25 billion, a price-to-earnings ratio of 53.12 and a beta of 1.29. Moody’s Corporation has a one year low of $93.51 and a one year high of $135.20.
Moody’s Corporation (NYSE:MCO) last issued its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.18. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $968.78 million. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 earnings per share. On average, equities research analysts forecast that Moody’s Corporation will post $5.50 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, August 18th. Moody’s Corporation’s dividend payout ratio is currently 61.29%.
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MCO has been the subject of several analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $124.00 target price on shares of Moody’s Corporation in a research note on Wednesday, April 26th. Barclays PLC reaffirmed a “hold” rating and set a $118.00 price objective on shares of Moody’s Corporation in a research note on Thursday, April 27th. Morgan Stanley upped their price objective on shares of Moody’s Corporation from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Friday, April 28th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $116.00 price objective on shares of Moody’s Corporation in a research note on Monday, May 8th. Finally, Zacks Investment Research downgraded shares of Moody’s Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Moody’s Corporation has a consensus rating of “Hold” and a consensus target price of $127.13.
In related news, SVP Blair Worrall sold 11,384 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $114.76, for a total transaction of $1,306,427.84. Following the sale, the senior vice president now owns 19,359 shares of the company’s stock, valued at $2,221,638.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Raymond W. Mcdaniel sold 61,666 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $123.23, for a total value of $7,599,101.18. Following the sale, the insider now directly owns 308,760 shares in the company, valued at approximately $38,048,494.80. The disclosure for this sale can be found here. Insiders have sold 212,612 shares of company stock worth $25,104,433 in the last three months. 1.17% of the stock is currently owned by company insiders.
About Moody’s Corporation
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.
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