Fishman Jay A Ltd. MI reduced its stake in shares of Moody’s Co. (NYSE:MCO) by 16.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,100 shares of the business services provider’s stock after selling 400 shares during the period. Fishman Jay A Ltd. MI’s holdings in Moody’s were worth $430,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Capital Insight Partners LLC grew its holdings in Moody’s by 1.1% during the 2nd quarter. Capital Insight Partners LLC now owns 9,090 shares of the business services provider’s stock worth $1,775,000 after acquiring an additional 95 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Moody’s by 0.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 11,462 shares of the business services provider’s stock valued at $2,239,000 after buying an additional 81 shares in the last quarter. Curbstone Financial Management Corp purchased a new position in shares of Moody’s during the 2nd quarter valued at about $410,000. Pennsylvania Trust Co raised its holdings in shares of Moody’s by 3.1% during the 2nd quarter. Pennsylvania Trust Co now owns 37,578 shares of the business services provider’s stock valued at $7,339,000 after buying an additional 1,145 shares in the last quarter. Finally, Argus Investors Counsel Inc. raised its holdings in shares of Moody’s by 110.2% during the 2nd quarter. Argus Investors Counsel Inc. now owns 4,292 shares of the business services provider’s stock valued at $838,000 after buying an additional 2,250 shares in the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.
In other Moody’s news, insider Robert Fauber sold 3,721 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $212.71, for a total transaction of $791,493.91. Following the completion of the sale, the insider now owns 48,382 shares of the company’s stock, valued at $10,291,335.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Almeida sold 27,236 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.06, for a total value of $5,639,486.16. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
Moody’s (NYSE:MCO) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.16. Moody’s had a return on equity of 270.17% and a net margin of 28.20%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. Moody’s’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities analysts anticipate that Moody’s Co. will post 8.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.92%. The ex-dividend date is Wednesday, November 20th. Moody’s’s dividend payout ratio is presently 27.06%.
MCO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group upped their price objective on Moody’s from $245.00 to $257.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley upped their price objective on Moody’s from $176.00 to $181.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Barclays reiterated a “buy” rating on shares of Moody’s in a research report on Sunday, August 4th. Finally, Stifel Nicolaus upped their price objective on Moody’s from $214.00 to $228.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Moody’s has a consensus rating of “Hold” and an average target price of $208.91.
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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