Moody’s Co. (MCO) Stake Lessened by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Moody’s Co. (NYSE:MCO) by 1.7% in the first quarter, HoldingsChannel.com reports. The firm owned 667,059 shares of the business services provider’s stock after selling 11,879 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Moody’s were worth $120,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of Moody’s by 4.4% in the third quarter. Teachers Advisors LLC now owns 272,774 shares of the business services provider’s stock valued at $45,608,000 after purchasing an additional 11,512 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Moody’s by 0.8% in the third quarter. TIAA CREF Investment Management LLC now owns 499,264 shares of the business services provider’s stock valued at $83,477,000 after purchasing an additional 3,790 shares during the period. Legal & General Group Plc raised its position in shares of Moody’s by 1.9% in the third quarter. Legal & General Group Plc now owns 746,743 shares of the business services provider’s stock valued at $124,907,000 after purchasing an additional 14,016 shares during the period. Vanguard Group Inc raised its position in shares of Moody’s by 0.3% in the third quarter. Vanguard Group Inc now owns 16,870,550 shares of the business services provider’s stock valued at $2,820,756,000 after purchasing an additional 55,968 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Moody’s by 991.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,881 shares of the business services provider’s stock valued at $403,000 after purchasing an additional 2,617 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.

Moody’s stock traded up $2.09 during midday trading on Wednesday, reaching $189.80. 191,842 shares of the stock were exchanged, compared to its average volume of 913,143. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 17.70. The firm has a market capitalization of $34.94 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 2.25 and a beta of 1.30. Moody’s Co. has a 52 week low of $129.26 and a 52 week high of $197.73.

Moody’s (NYSE:MCO) last posted its earnings results on Wednesday, April 24th. The business services provider reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.19. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Moody’s had a net margin of 29.38% and a return on equity of 281.55%. Moody’s’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 EPS. Research analysts forecast that Moody’s Co. will post 7.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, May 17th. Moody’s’s dividend payout ratio (DPR) is presently 27.06%.

In related news, SVP Melanie Hughes sold 3,039 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $197.52, for a total transaction of $600,263.28. Following the sale, the senior vice president now owns 3,912 shares of the company’s stock, valued at approximately $772,698.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Fauber sold 460 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $186.52, for a total transaction of $85,799.20. Following the completion of the transaction, the insider now directly owns 46,026 shares of the company’s stock, valued at approximately $8,584,769.52. The disclosure for this sale can be found here. Insiders have sold a total of 173,224 shares of company stock worth $32,121,975 in the last ninety days. 0.90% of the stock is currently owned by insiders.

MCO has been the topic of several research reports. Cantor Fitzgerald reissued a “hold” rating and issued a $145.00 price target on shares of Moody’s in a research report on Friday, February 15th. BMO Capital Markets boosted their price target on shares of Moody’s to $172.00 and gave the company a “market perform” rating in a research report on Tuesday, February 19th. ValuEngine raised shares of Moody’s from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th. Piper Jaffray Companies boosted their price target on shares of Moody’s from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, UBS Group boosted their price target on shares of Moody’s from $170.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $183.00.

TRADEMARK VIOLATION WARNING: “Moody’s Co. (MCO) Stake Lessened by Sumitomo Mitsui Trust Holdings Inc.” was published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international trademark and copyright law. The original version of this piece of content can be read at https://transcriptdaily.com/2019/05/22/moodys-co-mco-stake-lessened-by-sumitomo-mitsui-trust-holdings-inc.html.

About Moody’s

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.

See Also: Why is the conference call important?

Want to see what other hedge funds are holding MCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moody’s Co. (NYSE:MCO).

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

Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.