Rehmann Capital Advisory Group Sells 641 Shares of Moody’s Co. (NYSE:MCO)

Rehmann Capital Advisory Group cut its position in Moody’s Co. (NYSE:MCO) by 7.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,168 shares of the business services provider’s stock after selling 641 shares during the period. Rehmann Capital Advisory Group’s holdings in Moody’s were worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in MCO. Arkadios Wealth Advisors increased its position in Moody’s by 650.0% during the 2nd quarter. Arkadios Wealth Advisors now owns 90 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 78 shares during the period. Kempen Capital Management N.V. increased its holdings in shares of Moody’s by 86.0% during the 2nd quarter. Kempen Capital Management N.V. now owns 106 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. Parisi Gray Wealth Management purchased a new stake in Moody’s in the 2nd quarter worth $41,000. Wolverine Asset Management LLC grew its holdings in shares of Moody’s by 714.3% during the first quarter. Wolverine Asset Management LLC now owns 228 shares of the business services provider’s stock worth $68,000 after buying an additional 200 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its position in shares of Moody’s by 900.0% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 190 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

NYSE:MCO opened at $370.70 on Monday. The firm has a 50-day moving average price of $373.38 and a two-hundred day moving average price of $355.30. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.31 and a current ratio of 2.31. Moody’s Co. has a 52 week low of $253.17 and a 52 week high of $388.81. The firm has a market cap of $69.02 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 3.23 and a beta of 1.15.

Moody’s (NYSE:MCO) last posted its quarterly earnings data on Wednesday, July 28th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Moody’s had a net margin of 36.11% and a return on equity of 111.33%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.49 billion. As a group, sell-side analysts forecast that Moody’s Co. will post 11.84 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 20th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $2.48 dividend on an annualized basis and a yield of 0.67%. Moody’s’s dividend payout ratio (DPR) is 24.43%.

In related news, insider Michael L. West sold 680 shares of the firm’s stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $382.35, for a total value of $259,998.00. Following the transaction, the insider now owns 6,501 shares of the company’s stock, valued at approximately $2,485,657.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Fauber sold 447 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $380.31, for a total transaction of $169,998.57. Following the transaction, the chief executive officer now directly owns 53,916 shares in the company, valued at approximately $20,504,793.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,266 shares of company stock valued at $2,368,779. 0.50% of the stock is owned by corporate insiders.

MCO has been the topic of several recent analyst reports. BMO Capital Markets increased their price target on shares of Moody’s from $406.00 to $415.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on Moody’s from $325.00 to $375.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. Raymond James upped their target price on Moody’s from $406.00 to $416.00 and gave the company an “outperform” rating in a research report on Tuesday, October 5th. Royal Bank of Canada started coverage on Moody’s in a research report on Wednesday, July 7th. They set an “outperform” rating and a $409.00 price target for the company. Finally, Oppenheimer upped their target price on Moody’s from $406.00 to $418.00 and gave the company an “outperform” rating in a report on Tuesday, September 7th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Moody’s has a consensus rating of “Buy” and an average target price of $387.55.

Moody’s Company Profile

Moody’s Corp. engages in the provision of credit ratings, research, tools and analysis to the global capital markets. It operates through the following segments: Moody’s Investors Service (MIS) and Moody’s Analytics (MA). The MIS segment is a credit rating agency, which publishes credit ratings on debt obligations and the entities, including various corporate and governmental obligations, structured finance securities and commercial paper programs.

Further Reading: Equity Income

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

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