ING Groep NV increased its stake in Moody’s Corp. (NYSE:MCO) by 54.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,995 shares of the company’s stock after buying an additional 2,102 shares during the period. ING Groep NV’s holdings in Moody’s Corp. were worth $562,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCO. NN Investment Partners Holdings N.V. bought a new position in Moody’s Corp. during the first quarter valued at about $103,000. FNY Managed Accounts LLC bought a new position in Moody’s Corp. during the second quarter valued at about $190,000. BlueMountain Capital Management LLC bought a new position in Moody’s Corp. during the first quarter valued at about $210,000. CIBC World Markets Inc. bought a new position in Moody’s Corp. during the second quarter valued at about $220,000. Finally, Fisher Asset Management LLC raised its position in Moody’s Corp. by 4.6% in the second quarter. Fisher Asset Management LLC now owns 2,260 shares of the company’s stock valued at $221,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 86.91% of the company’s stock.
Moody’s Corp. (NYSE:MCO) traded down 0.55% during trading on Friday, hitting $108.26. The stock had a trading volume of 515,218 shares. The firm has a market capitalization of $20.81 billion, a P/E ratio of 24.18 and a beta of 1.35. Moody’s Corp. has a one year low of $77.76 and a one year high of $110.83. The stock has a 50 day moving average of $108.13 and a 200 day moving average of $100.86.
Moody’s Corp. (NYSE:MCO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.03. The company earned $928.90 million during the quarter, compared to analysts’ expectations of $909.08 million. Moody’s Corp. had a negative return on equity of 273.01% and a net margin of 25.81%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Equities research analysts expect that Moody’s Corp. will post $4.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were paid a $0.37 dividend. The ex-dividend date was Thursday, August 18th. This represents a $1.48 annualized dividend and a dividend yield of 1.37%. Moody’s Corp.’s payout ratio is 33.18%.
Several research analysts have issued reports on the company. Barclays PLC dropped their price objective on Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, August 23rd. Cantor Fitzgerald set a $105.00 price objective on Moody’s Corp. and gave the stock a “hold” rating in a research note on Thursday, September 29th. Argus raised their target price on Moody’s Corp. from $110.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Zacks Investment Research lowered Moody’s Corp. from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Credit Suisse Group AG initiated coverage on Moody’s Corp. in a research note on Monday, July 11th. They issued a “neutral” rating and a $99.00 target price for the company. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $109.29.
In related news, SVP Lisa Westlake sold 730 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $107.50, for a total transaction of $78,475.00. Following the completion of the sale, the senior vice president now owns 24,265 shares of the company’s stock, valued at $2,608,487.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Blair Worrall sold 11,054 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $103.39, for a total value of $1,142,873.06. Following the sale, the senior vice president now directly owns 13,062 shares of the company’s stock, valued at approximately $1,350,480.18. The disclosure for this sale can be found here. 1.48% of the stock is owned by insiders.
Moody’s Corp. Company Profile
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 outsourced research and analytical services to financial institution customers.
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