Victory Capital Management Inc. lessened its position in shares of Moody’s Co. (NYSE:MCO – Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,237 shares of the business services provider’s stock after selling 4,910 shares during the quarter. Victory Capital Management Inc.’s holdings in Moody’s were worth $19,964,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Akre Capital Management LLC lifted its holdings in shares of Moody’s by 0.7% in the 1st quarter. Akre Capital Management LLC now owns 5,659,712 shares of the business services provider’s stock valued at $1,909,643,000 after buying an additional 38,615 shares during the period. Morgan Stanley raised its holdings in Moody’s by 29.7% in the 4th quarter. Morgan Stanley now owns 3,994,497 shares of the business services provider’s stock worth $1,112,947,000 after purchasing an additional 914,530 shares during the period. Principal Financial Group Inc. raised its holdings in Moody’s by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 3,068,241 shares of the business services provider’s stock worth $854,873,000 after purchasing an additional 85,268 shares during the period. Geode Capital Management LLC raised its holdings in Moody’s by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,747,593 shares of the business services provider’s stock worth $763,867,000 after purchasing an additional 65,319 shares during the period. Finally, Norges Bank acquired a new position in Moody’s in the 4th quarter worth about $425,827,000. Institutional investors and hedge funds own 91.47% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. Royal Bank of Canada boosted their price objective on Moody’s from $350.00 to $404.00 in a research note on Wednesday. UBS Group boosted their price objective on Moody’s from $308.00 to $325.00 in a research note on Wednesday, April 26th. BMO Capital Markets boosted their price objective on Moody’s from $355.00 to $360.00 in a research note on Wednesday, May 17th. Bank of America began coverage on Moody’s in a research report on Thursday, June 15th. They issued a “buy” rating for the company. Finally, Morgan Stanley upped their price target on Moody’s from $300.00 to $323.00 in a research report on Monday, July 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $325.53.
Moody’s Stock Up 0.6 %
Moody’s (NYSE:MCO – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The business services provider reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.07. Moody’s had a return on equity of 55.98% and a net margin of 25.81%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the firm earned $2.22 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Research analysts anticipate that Moody’s Co. will post 10.02 EPS for the current year.
Moody’s Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, August 17th. Moody’s’s dividend payout ratio (DPR) is 39.69%.
Insiders Place Their Bets
In other news, CEO Robert Fauber sold 592 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $354.25, for a total value of $209,716.00. Following the sale, the chief executive officer now directly owns 65,838 shares in the company, valued at $23,323,111.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 3,292 shares of company stock worth $1,085,712 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.
Moody’s Profile
Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as and structured finance securities.
Featured Stories
- Five stocks we like better than Moody’s
- Investing in Vaccines 101: How to Invest in Vaccine Stocks
- Can SAIA Continue its Stratospheric Rally?
- Stock Dividend Cuts Happen Are You Ready?
- Why Markets Are Loving Exxon Mobil, Despite The Earnings Dip
- What is an Earnings Surprise?
- 7 Best Industrial REITs to Buy Now
Want to see what other hedge funds are holding MCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moody’s Co. (NYSE:MCO – Free Report).
Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.
