Huntington National Bank continued to hold its stake in Moody’s Corp. (NYSE:MCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,236 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Moody’s Corp. were worth $1,166,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Allen Investment Management LLC increased its stake in Moody’s Corp. by 31.7% in the first quarter. Allen Investment Management LLC now owns 498,899 shares of the company’s stock worth $48,174,000 after buying an additional 120,170 shares during the last quarter. Legal & General Group Plc increased its stake in Moody’s Corp. by 0.3% in the first quarter. Legal & General Group Plc now owns 793,284 shares of the company’s stock worth $76,597,000 after buying an additional 2,219 shares during the last quarter. BlackRock Group LTD increased its stake in Moody’s Corp. by 2.6% in the first quarter. BlackRock Group LTD now owns 1,776,825 shares of the company’s stock worth $171,570,000 after buying an additional 44,210 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Moody’s Corp. by 18.9% in the first quarter. Riverhead Capital Management LLC now owns 25,126 shares of the company’s stock worth $2,427,000 after buying an additional 3,993 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in Moody’s Corp. by 2.3% in the second quarter. Capstone Asset Management Co. now owns 16,902 shares of the company’s stock worth $1,584,000 after buying an additional 375 shares during the last quarter. 86.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Moody’s Corp. (NYSE:MCO) traded down 0.81% during midday trading on Friday, hitting $109.27. The company’s stock had a trading volume of 770,896 shares. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of 24.40 and a beta of 1.26. The firm has a 50-day moving average of $106.85 and a 200 day moving average of $99.85. Moody’s Corp. has a 12-month low of $77.76 and a 12-month high of $110.83.
Moody’s Corp. (NYSE:MCO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.03. The firm had revenue of $928.90 million for 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 firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. On average, equities research analysts predict that Moody’s Corp. will post $4.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.48 annualized dividend and a yield of 1.35%. Moody’s Corp.’s dividend payout ratio (DPR) is presently 33.18%.
A number of analysts have issued reports on MCO shares. Barclays PLC reduced their price objective on Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 23rd. Cantor Fitzgerald reissued a “hold” rating on shares of Moody’s Corp. in a research report on Friday, August 19th. Zacks Investment Research raised Moody’s Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. Credit Suisse Group AG began coverage on Moody’s Corp. in a research report on Monday, July 11th. They set a “neutral” rating and a $99.00 target price on the stock. Finally, Morgan Stanley reissued an “overweight” rating and set a $114.00 target price on shares of Moody’s Corp. in a research report on Tuesday, July 19th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Moody’s Corp. has a consensus rating of “Hold” and a consensus price target of $106.41.
In other news, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $91.94, for a total transaction of $45,970.00. Following the completion of the sale, the director now directly owns 22,090 shares in the company, valued at approximately $2,030,954.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John J. Goggins sold 24,250 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $104.53, for a total value of $2,534,852.50. Following the sale, the executive vice president now owns 75,291 shares of the company’s stock, valued at $7,870,168.23. The disclosure for this sale can be found here. 1.48% of the stock is owned by company insiders.
About Moody’s Corp.
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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