State Treasurer State of Michigan raised its stake in shares of Moody’s Corporation (NYSE:MCO) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,015 shares of the business services provider’s stock after buying an additional 6,400 shares during the period. State Treasurer State of Michigan owned approximately 0.08% of Moody’s Corporation worth $19,349,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Visionary Asset Management Inc. purchased a new position in Moody’s Corporation during the second quarter valued at approximately $213,000. Louisiana State Employees Retirement System boosted its position in Moody’s Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the business services provider’s stock valued at $1,253,000 after buying an additional 100 shares during the period. Jarislowsky Fraser Ltd purchased a new position in Moody’s Corporation during the second quarter valued at approximately $212,000. LS Investment Advisors LLC boosted its position in Moody’s Corporation by 2.7% in the second quarter. LS Investment Advisors LLC now owns 5,269 shares of the business services provider’s stock valued at $641,000 after buying an additional 140 shares during the period. Finally, YCG LLC purchased a new position in Moody’s Corporation during the second quarter valued at approximately $6,987,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.
Moody’s Corporation (MCO) traded up 0.02% during midday trading on Thursday, reaching $126.62. The company had a trading volume of 461,676 shares. Moody’s Corporation has a 12 month low of $93.51 and a 12 month high of $127.38. The firm has a 50-day moving average of $121.16 and a 200-day moving average of $113.22. The stock has a market cap of $24.22 billion, a P/E ratio of 57.61 and a beta of 1.29.
Moody’s Corporation (NYSE:MCO) last issued its quarterly earnings results on Friday, May 5th. The business services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.23. Moody’s Corporation had a negative return on equity of 167.79% and a net margin of 11.37%. The business had revenue of $975.20 million during the quarter, compared to analysts’ expectations of $914.27 million. During the same period in the previous year, the company posted $0.93 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts expect that Moody’s Corporation will post $5.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.52 annualized dividend and a yield of 1.20%. Moody’s Corporation’s dividend payout ratio is currently 70.05%.
Several research firms have commented on MCO. Zacks Investment Research cut Moody’s Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BMO Capital Markets upped their price target on Moody’s Corporation from $124.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, July 14th. BidaskClub raised Moody’s Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Morgan Stanley upped their price target on Moody’s Corporation from $118.00 to $121.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. Finally, Barclays PLC upped their price target on Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, June 28th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Moody’s Corporation currently has an average rating of “Hold” and a consensus target price of $118.63.
In other Moody’s Corporation news, insider Raymond W. Mcdaniel sold 61,667 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $113.35, for a total transaction of $6,989,954.45. Following the completion of the transaction, the insider now directly owns 308,761 shares in the company, valued at $34,998,059.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $121.64, for a total transaction of $60,820.00. Following the transaction, the director now owns 22,268 shares of the company’s stock, valued at $2,708,679.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,612 shares of company stock valued at $25,104,433. Company insiders own 1.17% of the company’s stock.
Moody’s Corporation 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 research and analytical services to financial institution customers.
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