Legal & General Group Plc grew its holdings in shares of Moody’s Co. (NYSE:MCO) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,058,639 shares of the business services provider’s stock after purchasing an additional 17,293 shares during the period. Legal & General Group Plc owned about 0.56% of Moody’s worth $224,077,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. APG Asset Management N.V. grew its holdings in shares of Moody’s by 74.2% in the first quarter. APG Asset Management N.V. now owns 1,504,435 shares of the business services provider’s stock valued at $242,631,000 after purchasing an additional 640,984 shares in the last quarter. Deutsche Bank AG increased its position in shares of Moody’s by 10.1% during the first quarter. Deutsche Bank AG now owns 1,659,136 shares of the business services provider’s stock worth $350,907,000 after acquiring an additional 151,887 shares during the period. Baird Financial Group Inc. raised its stake in shares of Moody’s by 7.6% in the first quarter. Baird Financial Group Inc. now owns 4,131 shares of the business services provider’s stock valued at $874,000 after acquiring an additional 293 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Moody’s by 92.6% in the first quarter. Alliancebernstein L.P. now owns 535,115 shares of the business services provider’s stock valued at $113,177,000 after purchasing an additional 257,289 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in Moody’s by 304.5% in the first quarter. Lord Abbett & CO. LLC now owns 104,985 shares of the business services provider’s stock valued at $22,204,000 after purchasing an additional 79,029 shares during the period. 90.31% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. BMO Capital Markets increased their price target on Moody’s from $285.00 to $298.00 and gave the company an “outperform” rating in a research report on Monday. Argus lifted their price target on shares of Moody’s from $245.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Stifel Nicolaus increased their price objective on shares of Moody’s from $266.00 to $279.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Cantor Fitzgerald lifted their price objective on shares of Moody’s from $233.00 to $266.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, UBS Group raised their price target on Moody’s from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Moody’s has a consensus rating of “Buy” and a consensus target price of $268.00.
Shares of NYSE MCO traded down $13.41 during trading hours on Thursday, reaching $263.39. The stock had a trading volume of 395,400 shares, compared to its average volume of 1,135,218. The firm has a 50-day moving average of $256.26 and a 200-day moving average of $243.08. The firm has a market cap of $51.76 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 3.35 and a beta of 1.18. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 8.47. Moody’s Co. has a fifty-two week low of $164.19 and a fifty-two week high of $287.25.
Moody’s (NYSE:MCO) last announced its earnings results on Thursday, April 30th. The business services provider reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.43. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.20 billion. Moody’s had a net margin of 30.88% and a return on equity of 235.22%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $2.07 earnings per share. On average, equities analysts predict that Moody’s Co. will post 8.35 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.24 dividend on an annualized basis and a yield of 0.85%. Moody’s’s dividend payout ratio is presently 27.02%.
In other news, CEO Raymond W. Mcdaniel sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $280.71, for a total value of $2,105,325.00. Following the transaction, the chief executive officer now owns 234,646 shares of the company’s stock, valued at $65,867,478.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Raymond W. Mcdaniel sold 42,905 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $222.18, for a total value of $9,532,632.90. Following the sale, the chief executive officer now directly owns 286,151 shares of the company’s stock, valued at $63,577,029.18. The disclosure for this sale can be found here. Insiders sold 93,652 shares of company stock valued at $22,786,983 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.
Moody’s Company Profile
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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