Rafferty Asset Management LLC raised its stake in Moody’s Co. (NYSE:MCO) by 493.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,442 shares of the business services provider’s stock after purchasing an additional 28,640 shares during the period. Rafferty Asset Management LLC’s holdings in Moody’s were worth $9,462,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Viking Global Investors LP acquired a new position in shares of Moody’s in the 2nd quarter valued at $268,507,000. Great Lakes Advisors LLC raised its stake in shares of Moody’s by 315.0% in the 2nd quarter. Great Lakes Advisors LLC now owns 25,658 shares of the business services provider’s stock valued at $7,049,000 after buying an additional 19,475 shares in the last quarter. Trillium Asset Management LLC acquired a new position in shares of Moody’s in the 2nd quarter valued at $264,000. Coronation Fund Managers Ltd. raised its stake in shares of Moody’s by 18.4% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 29,963 shares of the business services provider’s stock valued at $8,232,000 after buying an additional 4,664 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in shares of Moody’s by 95.3% in the 2nd quarter. SRS Capital Advisors Inc. now owns 748 shares of the business services provider’s stock valued at $205,000 after buying an additional 365 shares in the last quarter. 90.27% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE MCO traded up $1.87 during mid-day trading on Thursday, hitting $283.56. The company’s stock had a trading volume of 9,414 shares, compared to its average volume of 650,995. The stock has a market cap of $53.59 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.17. The company has a debt-to-equity ratio of 5.14, a current ratio of 2.10 and a quick ratio of 2.10. Moody’s Co. has a one year low of $164.19 and a one year high of $296.66. The company’s fifty day simple moving average is $284.30 and its 200-day simple moving average is $257.28.
Moody’s (NYSE:MCO) last issued its earnings results on Thursday, July 30th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.55. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.23 billion. Moody’s had a net margin of 33.38% and a return on equity of 207.04%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 EPS. On average, sell-side analysts predict that Moody’s Co. will post 9.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, August 19th. Moody’s’s payout ratio is 27.02%.
In other Moody’s news, CEO Raymond W. Mcdaniel sold 7,500 shares of Moody’s stock in a transaction that occurred on Friday, June 5th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen T. Tulenko sold 1,500 shares of Moody’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $293.01, for a total transaction of $439,515.00. Following the completion of the transaction, the insider now directly owns 8,044 shares in the company, valued at approximately $2,356,972.44. The disclosure for this sale can be found here. Insiders have sold a total of 45,000 shares of company stock worth $12,577,635 in the last three months. 0.79% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Moody’s from a “hold” rating to a “buy” rating and set a $298.00 target price for the company in a research report on Tuesday, July 7th. Goldman Sachs Group raised their price objective on shares of Moody’s from $258.00 to $295.00 in a research report on Wednesday, July 8th. Credit Suisse Group restated a “buy” rating and issued a $330.00 price objective on shares of Moody’s in a research report on Tuesday, July 28th. UBS Group raised their price objective on shares of Moody’s from $344.00 to $358.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, BMO Capital Markets raised their price objective on shares of Moody’s from $285.00 to $298.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $290.75.
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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