Moody’s Corporation (MCO) Stake Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in Moody’s Corporation (NYSE:MCO) by 14.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 553,792 shares of the business services provider’s stock after acquiring an additional 69,379 shares during the quarter. New York State Common Retirement Fund owned about 0.29% of Moody’s Corporation worth $67,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCO. BlackRock Inc. increased its holdings in shares of Moody’s Corporation by 2,616.3% in the 1st quarter. BlackRock Inc. now owns 10,181,036 shares of the business services provider’s stock valued at $1,140,681,000 after acquiring an additional 9,806,220 shares during the last quarter. Akre Capital Management LLC increased its holdings in shares of Moody’s Corporation by 21.9% in the 1st quarter. Akre Capital Management LLC now owns 5,679,831 shares of the business services provider’s stock valued at $636,368,000 after acquiring an additional 1,019,167 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of Moody’s Corporation by 17.8% in the 2nd quarter. Fiera Capital Corp now owns 5,793,968 shares of the business services provider’s stock valued at $705,010,000 after acquiring an additional 876,210 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Moody’s Corporation by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 15,739,681 shares of the business services provider’s stock valued at $1,763,474,000 after acquiring an additional 490,573 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Moody’s Corporation by 35.9% in the 1st quarter. Alliancebernstein L.P. now owns 1,262,350 shares of the business services provider’s stock valued at $141,434,000 after acquiring an additional 333,192 shares during the last quarter. Institutional investors and hedge funds own 88.74% of the company’s stock.

In related news, insider Raymond W. Mcdaniel sold 45,216 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $129.03, for a total value of $5,834,220.48. Following the completion of the sale, the insider now directly owns 292,310 shares of the company’s stock, valued at $37,716,759.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $121.64, for a total value of $60,820.00. Following the completion of the sale, the director now directly owns 22,268 shares of the company’s stock, valued at $2,708,679.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,598 shares of company stock valued at $19,560,320. 1.17% of the stock is owned by corporate insiders.

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A number of research analysts have recently commented on MCO shares. Credit Suisse Group reiterated a “neutral” rating and issued a $137.00 price objective (up previously from $131.00) on shares of Moody’s Corporation in a report on Wednesday, August 30th. They noted that the move was a valuation call. Morgan Stanley restated an “equal weight” rating and set a $131.00 price target (up previously from $122.00) on shares of Moody’s Corporation in a research note on Tuesday, July 25th. UBS AG restated a “neutral” rating and set a $138.00 price target (up previously from $121.00) on shares of Moody’s Corporation in a research note on Tuesday, July 25th. Zacks Investment Research downgraded Moody’s Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BMO Capital Markets restated a “market perform” rating and set a $136.00 price target (up previously from $135.00) on shares of Moody’s Corporation in a research note on Wednesday, September 6th. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $138.86.

Moody’s Corporation (MCO) traded up 0.10% on Wednesday, reaching $136.87. The company had a trading volume of 49,742 shares. Moody’s Corporation has a 12 month low of $93.51 and a 12 month high of $137.32. The firm has a market capitalization of $26.15 billion, a PE ratio of 54.99 and a beta of 1.30. The stock has a 50 day moving average of $132.31 and a 200 day moving average of $121.66.

Moody’s Corporation (NYSE:MCO) last announced its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.18. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $968.78 million. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. Moody’s Corporation’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 earnings per share. On average, analysts anticipate that Moody’s Corporation will post $5.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, August 18th. Moody’s Corporation’s dividend payout ratio is currently 61.29%.

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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Institutional Ownership by Quarter for Moody`s Corporation (NYSE:MCO)

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