LMR Partners LLP purchased a new position in Moody’s Corp. (NYSE:MCO) during the second quarter, Holdings Channel reports. The firm purchased 17,686 shares of the company’s stock, valued at approximately $1,657,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. NN Investment Partners Holdings N.V. acquired a new position in shares of Moody’s Corp. during the first quarter worth approximately $103,000. FNY Managed Accounts LLC acquired a new position in shares of Moody’s Corp. during the second quarter worth approximately $190,000. BlueMountain Capital Management LLC acquired a new position in shares of Moody’s Corp. during the first quarter worth approximately $210,000. Fisher Asset Management LLC raised its position in shares of Moody’s Corp. by 4.6% in the second quarter. Fisher Asset Management LLC now owns 2,260 shares of the company’s stock worth $221,000 after buying an additional 100 shares during the period. Finally, CIBC World Markets Inc. acquired a new position in shares of Moody’s Corp. during the second quarter worth approximately $220,000. Institutional investors own 86.91% of the company’s stock.
Shares of Moody’s Corp. (NYSE:MCO) traded down 0.55% during mid-day trading on Friday, hitting $108.26. The stock had a trading volume of 515,218 shares. The firm has a market cap of $20.81 billion, a PE ratio of 24.18 and a beta of 1.35. Moody’s Corp. has a 52 week low of $77.76 and a 52 week high of $110.83. The stock has a 50 day moving average price of $108.02 and a 200 day moving average price of $100.78.
Moody’s Corp. (NYSE:MCO) last released its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ 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 revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. Equities research analysts expect that Moody’s Corp. will post $4.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.48 annualized dividend and a yield of 1.37%. Moody’s Corp.’s payout ratio is currently 33.18%.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Moody’s Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Cantor Fitzgerald reiterated a “hold” rating and set a $96.00 price target on shares of Moody’s Corp. in a report on Friday, July 22nd. Credit Suisse Group AG assumed coverage on Moody’s Corp. in a report on Monday, July 11th. They set a “neutral” rating and a $99.00 price target for the company. Morgan Stanley set a $112.00 target price on Moody’s Corp. and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Barclays PLC restated an “overweight” rating and issued a $95.00 target price on shares of Moody’s Corp. in a research note on Tuesday, June 28th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $109.29.
In related news, insider Robert Fauber sold 17,796 shares of Moody’s Corp. stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $104.78, for a total transaction of $1,864,664.88. Following the completion of the sale, the insider now directly owns 49,527 shares of the company’s stock, valued at approximately $5,189,439.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John J. Goggins sold 24,250 shares of Moody’s Corp. stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $104.53, for a total value of $2,534,852.50. Following the sale, the executive vice president now directly owns 75,291 shares of the company’s stock, valued at $7,870,168.23. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.
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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