Azzad Asset Management Inc. ADV purchased a new position in shares of Moody’s Co. (NYSE:MCO – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,426 shares of the business services provider’s stock, valued at approximately $664,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MCO. Norges Bank acquired a new position in Moody’s during the fourth quarter worth about $988,750,000. GAMMA Investing LLC raised its stake in shares of Moody’s by 55,808.8% in the 1st quarter. GAMMA Investing LLC now owns 802,850 shares of the business services provider’s stock valued at $373,879,000 after acquiring an additional 801,414 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Moody’s by 92,060.2% in the 4th quarter. Proficio Capital Partners LLC now owns 612,865 shares of the business services provider’s stock valued at $290,112,000 after acquiring an additional 612,200 shares during the period. Amundi raised its stake in shares of Moody’s by 73.6% in the 4th quarter. Amundi now owns 1,131,656 shares of the business services provider’s stock valued at $534,255,000 after acquiring an additional 479,599 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Moody’s during the 4th quarter worth approximately $150,376,000. 92.11% of the stock is currently owned by institutional investors and hedge funds.
Moody’s Price Performance
Moody’s stock opened at $471.57 on Monday. Moody’s Co. has a 12-month low of $378.71 and a 12-month high of $531.93. The stock has a market capitalization of $84.84 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.87 and a beta of 1.39. The firm’s 50-day moving average is $461.41 and its two-hundred day moving average is $473.10. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.47 and a quick ratio of 1.67.
Moody’s Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were paid a dividend of $0.94 per share. The ex-dividend date was Friday, May 16th. This represents a $3.76 annualized dividend and a dividend yield of 0.80%. Moody’s’s dividend payout ratio is currently 32.47%.
Insiders Place Their Bets
In related news, CEO Robert Fauber sold 415 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $437.80, for a total value of $181,687.00. Following the sale, the chief executive officer now directly owns 62,690 shares of the company’s stock, valued at approximately $27,445,682. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Barclays lowered their price target on shares of Moody’s from $570.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, April 4th. BMO Capital Markets lowered their price target on Moody’s from $475.00 to $456.00 and set a “market perform” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their price target on Moody’s from $533.00 to $468.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer upped their price objective on shares of Moody’s from $489.00 to $523.00 and gave the stock an “outperform” rating in a research report on Thursday, June 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $550.00 price target on shares of Moody’s in a report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Moody’s presently has an average rating of “Moderate Buy” and an average price target of $519.40.
View Our Latest Stock Analysis on MCO
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.
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