Sequoia Financial Advisors LLC acquired a new stake in shares of Moody’s Co. (NYSE:MCO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,200 shares of the business services provider’s stock, valued at approximately $234,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Moody’s in the first quarter valued at approximately $36,000. Ibex Wealth Advisors bought a new position in Moody’s in the 2nd quarter worth approximately $41,000. Resources Investment Advisors Inc. bought a new position in Moody’s in the 1st quarter worth approximately $40,000. Berman Capital Advisors LLC raised its position in Moody’s by 34.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 247 shares of the business services provider’s stock worth $48,000 after purchasing an additional 63 shares during the last quarter. Finally, CWM LLC raised its position in shares of Moody’s by 123.0% during the 1st quarter. CWM LLC now owns 310 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 171 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors.
Several brokerages have commented on MCO. Morgan Stanley upped their target price on shares of Moody’s from $150.00 to $164.00 and gave the company an “underweight” rating in a research report on Wednesday, July 10th. Stifel Nicolaus boosted their price target on shares of Moody’s from $214.00 to $228.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Argus boosted their price target on shares of Moody’s to $240.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald boosted their price target on shares of Moody’s from $168.00 to $192.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $200.27.
Shares of MCO stock traded down $4.07 on Wednesday, hitting $209.43. The stock had a trading volume of 5,049 shares, compared to its average volume of 901,353. Moody’s Co. has a twelve month low of $129.26 and a twelve month high of $220.68. The firm has a market cap of $40.51 billion, a price-to-earnings ratio of 28.55 and a beta of 1.26. The company has a debt-to-equity ratio of 10.04, a quick ratio of 1.71 and a current ratio of 1.71. The company has a fifty day simple moving average of $204.08.
Moody’s (NYSE:MCO) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.09. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. Moody’s had a net margin of 27.66% and a return on equity of 266.42%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 EPS. Research analysts expect that Moody’s Co. will post 8.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Monday, August 19th. Moody’s’s payout ratio is presently 27.06%.
In related news, insider Robert Fauber sold 460 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $186.52, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Raymond W. Mcdaniel sold 55,422 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $182.23, for a total transaction of $10,099,551.06. Following the completion of the transaction, the insider now directly owns 275,716 shares of the company’s stock, valued at $50,243,726.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,603 shares of company stock valued at $14,061,969. Company insiders own 0.90% of the company’s stock.
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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