First Business Financial Services Inc. reduced its position in shares of Moody’s Corp. (NYSE:MCO) by 5.9% during the second quarter, Holdings Channel reports. The fund owned 4,306 shares of the company’s stock after selling 268 shares during the period. First Business Financial Services Inc.’s holdings in Moody’s Corp. were worth $404,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Allen Investment Management LLC raised its stake in Moody’s Corp. by 31.7% in the first quarter. Allen Investment Management LLC now owns 498,899 shares of the company’s stock worth $48,174,000 after buying an additional 120,170 shares during the last quarter. Legal & General Group Plc raised its stake in Moody’s Corp. by 0.3% in the first quarter. Legal & General Group Plc now owns 793,284 shares of the company’s stock worth $76,597,000 after buying an additional 2,219 shares during the last quarter. BlackRock Group LTD raised its stake in Moody’s Corp. by 2.6% in the first quarter. BlackRock Group LTD now owns 1,776,825 shares of the company’s stock worth $171,570,000 after buying an additional 44,210 shares during the last quarter. Riverhead Capital Management LLC raised its stake in Moody’s Corp. by 18.9% in the first quarter. Riverhead Capital Management LLC now owns 25,126 shares of the company’s stock worth $2,427,000 after buying an additional 3,993 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in Moody’s Corp. by 2.3% in the second quarter. Capstone Asset Management Co. now owns 16,902 shares of the company’s stock worth $1,584,000 after buying an additional 375 shares during the last quarter. 86.91% of the stock is owned by institutional investors and hedge funds.
Moody’s Corp. (NYSE:MCO) traded up 0.20% on Thursday, hitting $108.71. The stock had a trading volume of 408,594 shares. Moody’s Corp. has a 52 week low of $77.76 and a 52 week high of $110.83. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of 24.28 and a beta of 1.35. The firm has a 50-day moving average of $107.88 and a 200 day moving average of $100.72.
Moody’s Corp. (NYSE:MCO) last announced its quarterly earnings data on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.03. The business earned $928.90 million during the quarter, compared to analysts’ expectations of $909.08 million. Moody’s Corp. had a negative return on equity of 273.01% and a net margin of 25.81%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. On average, analysts predict that Moody’s Corp. will post $4.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Thursday, August 18th. Moody’s Corp.’s dividend payout ratio is currently 33.18%.
A number of equities research analysts recently commented on MCO shares. Barclays PLC lowered their price target on Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, August 23rd. Cantor Fitzgerald restated a “hold” rating on shares of Moody’s Corp. in a research note on Friday, August 19th. Zacks Investment Research upgraded Moody’s Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. BMO Capital Markets restated a “market perform” rating and issued a $112.00 price objective (up previously from $104.00) on shares of Moody’s Corp. in a research note on Friday, September 30th. Finally, Credit Suisse Group AG began coverage on Moody’s Corp. in a research note on Monday, July 11th. They issued a “neutral” rating and a $99.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $109.29.
In other news, insider Robert Fauber sold 1,970 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $108.37, for a total value of $213,488.90. Following the completion of the transaction, the insider now owns 41,074 shares in the company, valued at $4,451,189.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lisa Westlake sold 730 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $107.50, for a total value of $78,475.00. Following the completion of the transaction, the senior vice president now owns 24,265 shares of the company’s stock, valued at approximately $2,608,487.50. The disclosure for this sale can be found here. 1.48% of the stock is owned by insiders.
About Moody’s Corp.
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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