Daiwa Securities Group Inc. reduced its stake in shares of Moody’s Co. (NYSE:MCO) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,546 shares of the business services provider’s stock after selling 2,539 shares during the period. Daiwa Securities Group Inc.’s holdings in Moody’s were worth $3,799,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of MCO. Nuveen Asset Management LLC lifted its position in shares of Moody’s by 985.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 770,226 shares of the business services provider’s stock valued at $150,433,000 after buying an additional 699,273 shares in the last quarter. Morgan Stanley raised its stake in Moody’s by 14.9% during the 2nd quarter. Morgan Stanley now owns 2,115,215 shares of the business services provider’s stock valued at $413,121,000 after purchasing an additional 274,515 shares during the period. Paloma Partners Management Co raised its stake in Moody’s by 1,257.4% during the 2nd quarter. Paloma Partners Management Co now owns 164,235 shares of the business services provider’s stock valued at $32,077,000 after purchasing an additional 152,136 shares during the period. Windacre Partnership LLC raised its stake in Moody’s by 10.1% during the 2nd quarter. Windacre Partnership LLC now owns 1,642,000 shares of the business services provider’s stock valued at $320,699,000 after purchasing an additional 150,800 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Moody’s during the 3rd quarter valued at approximately $29,697,000. 90.27% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MCO opened at $218.13 on Friday. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.42 and a quick ratio of 1.71. Moody’s Co. has a 1 year low of $129.26 and a 1 year high of $223.82. The stock’s 50 day simple moving average is $212.98 and its two-hundred day simple moving average is $203.72. The company has a market cap of $40.23 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 2.61 and a beta of 1.24.
Moody’s (NYSE:MCO) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.16. Moody’s had a return on equity of 270.17% and a net margin of 28.20%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $1.69 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts anticipate that Moody’s Co. will post 8.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Wednesday, November 20th. Moody’s’s payout ratio is 27.06%.
In other Moody’s news, insider Mark Almeida sold 27,236 shares of Moody’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.06, for a total value of $5,639,486.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Fauber sold 3,721 shares of Moody’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $212.71, for a total value of $791,493.91. Following the completion of the sale, the insider now directly owns 48,382 shares in the company, valued at approximately $10,291,335.22. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
Several analysts recently issued reports on MCO shares. Morgan Stanley lifted their target price on Moody’s from $176.00 to $181.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their target price on Moody’s from $214.00 to $228.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. William Blair reissued an “outperform” rating on shares of Moody’s in a research note on Thursday, October 31st. Barclays reissued a “buy” rating on shares of Moody’s in a research note on Sunday, August 4th. Finally, JPMorgan Chase & Co. lifted their target price on Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $208.91.
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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