Corebridge Financial Inc. Has $20.31 Million Holdings in Moody’s Co. (NYSE:MCO)

Corebridge Financial Inc. lessened its position in Moody’s Co. (NYSE:MCO) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,900 shares of the business services provider’s stock after selling 1,032 shares during the period. Corebridge Financial Inc.’s holdings in Moody’s were worth $20,308,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its stake in shares of Moody’s by 4.5% during the 4th quarter. Allworth Financial LP now owns 1,001 shares of the business services provider’s stock worth $485,000 after purchasing an additional 43 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Moody’s by 7.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,560 shares of the business services provider’s stock valued at $31,981,000 after buying an additional 4,544 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Moody’s by 6.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,718 shares of the business services provider’s stock worth $8,861,000 after purchasing an additional 1,164 shares in the last quarter. M&T Bank Corp raised its holdings in Moody’s by 11.2% in the 3rd quarter. M&T Bank Corp now owns 62,913 shares of the business services provider’s stock valued at $29,858,000 after buying an additional 6,340 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its holdings in shares of Moody’s by 32.5% during the fourth quarter. Fiduciary Alliance LLC now owns 14,316 shares of the business services provider’s stock worth $6,777,000 after purchasing an additional 3,510 shares during the period. Institutional investors own 92.11% of the company’s stock.

Insider Activity at Moody’s

In related news, CEO Robert Fauber sold 281 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $474.86, for a total value of $133,435.66. Following the completion of the transaction, the chief executive officer now directly owns 61,894 shares of the company’s stock, valued at approximately $29,390,984.84. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,124 shares of company stock valued at $552,193. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on MCO. StockNews.com lowered shares of Moody’s from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Morgan Stanley increased their price target on Moody’s from $481.00 to $508.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. William Blair reaffirmed an “outperform” rating on shares of Moody’s in a report on Friday, February 14th. Mizuho started coverage on Moody’s in a research note on Wednesday, March 12th. They issued a “neutral” rating and a $504.00 target price on the stock. Finally, Citigroup initiated coverage on Moody’s in a research report on Friday, December 20th. They set a “buy” rating and a $565.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Moody’s currently has an average rating of “Hold” and a consensus target price of $527.00.

Moody’s Trading Up 2.2 %

NYSE MCO opened at $469.48 on Tuesday. Moody’s Co. has a twelve month low of $360.05 and a twelve month high of $531.93. The company has a quick ratio of 1.67, a current ratio of 1.47 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average is $485.79 and its 200 day moving average is $480.31. The firm has a market capitalization of $84.45 billion, a PE ratio of 41.66, a P/E/G ratio of 2.87 and a beta of 1.34.

Moody’s (NYSE:MCO) last posted its earnings results on Thursday, February 13th. The business services provider reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.35. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Moody’s had a return on equity of 58.94% and a net margin of 29.03%. Research analysts forecast that Moody’s Co. will post 13.95 earnings per share for the current fiscal year.

Moody’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were paid a dividend of $0.94 per share. This is a boost from Moody’s’s previous quarterly dividend of $0.85. The ex-dividend date was Tuesday, February 25th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.80%. Moody’s’s payout ratio is 33.36%.

About Moody’s

Moody’s Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody’s Analytics and Moody’s Investors Services. The Moody’s Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.