Virginia Retirement Systems ET AL bought a new position in shares of Moody’s Corp. (NYSE:MCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,700 shares of the company’s stock, valued at approximately $1,284,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of MCO. Emerald Acquisition Ltd. acquired a new position in Moody’s Corp. during the second quarter worth approximately $148,773,000. Bank of Montreal Can acquired a new position in Moody’s Corp. during the second quarter worth approximately $50,649,000. Principal Financial Group Inc. increased its position in Moody’s Corp. by 11.6% in the second quarter. Principal Financial Group Inc. now owns 4,724,417 shares of the company’s stock worth $442,724,000 after buying an additional 491,476 shares during the period. Eagle Asset Management Inc. acquired a new position in Moody’s Corp. during the second quarter worth approximately $19,117,000. Finally, Vanguard Group Inc. increased its position in Moody’s Corp. by 1.2% in the second quarter. Vanguard Group Inc. now owns 14,683,548 shares of the company’s stock worth $1,375,995,000 after buying an additional 174,769 shares during the period. 86.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Moody’s Corp. (NYSE:MCO) opened at 109.57 on Thursday. Moody’s Corp. has a 1-year low of $77.76 and a 1-year high of $110.83. The company has a 50-day moving average of $107.27 and a 200-day moving average of $100.25. The firm has a market capitalization of $21.07 billion, a PE ratio of 24.47 and a beta of 1.26.
Moody’s Corp. (NYSE:MCO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.03. The business had revenue of $928.90 million for the quarter, compared to analysts’ expectations of $909.08 million. Moody’s Corp. had a net margin of 25.81% and a negative return on equity of 273.01%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. Equities research analysts predict that Moody’s Corp. will post $4.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were given a dividend of $0.37 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.48 annualized dividend and a dividend yield of 1.35%. Moody’s Corp.’s dividend payout ratio is presently 33.18%.
A number of research analysts have commented on MCO shares. Morgan Stanley reissued an “overweight” rating and set a $114.00 target price on shares of Moody’s Corp. in a research report on Tuesday, July 19th. Barclays PLC cut their target price on shares of Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 23rd. Cantor Fitzgerald reissued a “hold” rating on shares of Moody’s Corp. in a research report on Friday, August 19th. Argus raised their target price on shares of Moody’s Corp. from $110.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Finally, Zacks Investment Research raised shares of Moody’s Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $106.41.
In related news, EVP John J. Goggins sold 24,250 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $104.53, for a total transaction of $2,534,852.50. Following the sale, the executive vice president now directly owns 75,291 shares in the company, valued at $7,870,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Blair Worrall sold 11,054 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $103.39, for a total transaction of $1,142,873.06. Following the sale, the senior vice president now owns 13,062 shares in the company, valued at $1,350,480.18. The disclosure for this sale can be found here. Insiders own 1.48% of the company’s stock.
Moody’s Corp. Company Profile
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services; quantitative credit risk measures, financial services training and certification services, and outsourced research and analytical services to financial institution customers.
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