Whittier Trust Co. continued to hold its stake in shares of Moody’s Corporation (NYSE:MCO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,293 shares of the business services provider’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Moody’s Corporation were worth $1,131,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of MCO. Vanguard Group Inc. increased its stake in Moody’s Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,739,681 shares of the business services provider’s stock worth $1,763,474,000 after buying an additional 490,573 shares during the last quarter. BlackRock Inc. increased its stake in Moody’s Corporation by 2,616.3% in the first quarter. BlackRock Inc. now owns 10,181,036 shares of the business services provider’s stock worth $1,140,681,000 after buying an additional 9,806,220 shares during the last quarter. State Street Corp increased its stake in Moody’s Corporation by 2.0% in the first quarter. State Street Corp now owns 7,581,302 shares of the business services provider’s stock worth $849,399,000 after buying an additional 148,527 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Moody’s Corporation by 4.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,311,225 shares of the business services provider’s stock worth $707,110,000 after buying an additional 260,398 shares during the last quarter. Finally, Akre Capital Management LLC increased its stake in Moody’s Corporation by 21.9% in the first quarter. Akre Capital Management LLC now owns 5,679,831 shares of the business services provider’s stock worth $636,368,000 after buying an additional 1,019,167 shares during the last quarter. Institutional investors own 88.62% of the company’s stock.
Moody’s Corporation (MCO) traded up 4.25% during mid-day trading on Friday, hitting $132.57. 2,559,392 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $121.41 and its 200-day moving average price is $113.32. Moody’s Corporation has a 12 month low of $93.51 and a 12 month high of $133.62. The stock has a market cap of $25.32 billion, a PE ratio of 53.26 and a beta of 1.29.
Moody’s Corporation (NYSE:MCO) last posted its earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.18. Moody’s Corporation had a net margin of 11.37% and a negative return on equity of 167.79%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $968.78 million. During the same period in the prior year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts expect that Moody’s Corporation will post $5.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, August 18th. Moody’s Corporation’s dividend payout ratio (DPR) is currently 61.29%.
MCO has been the subject of a number of analyst reports. BidaskClub downgraded shares of Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Moody’s Corporation from a “sell” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Monday, July 17th. Morgan Stanley lifted their price target on shares of Moody’s Corporation from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Friday, April 28th. Barclays PLC lifted their price target on shares of Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 28th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $116.00 price target on shares of Moody’s Corporation in a research report on Monday, May 8th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $118.63.
In other news, insider Raymond W. Mcdaniel sold 61,667 shares of the firm’s stock in a transaction 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 sale, the insider now owns 308,761 shares in the company, valued at approximately $34,998,059.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Darrell Duffie sold 500 shares of the firm’s stock in a transaction 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 sale, the director now owns 22,268 shares in the company, valued at approximately $2,708,679.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,612 shares of company stock worth $25,104,433. Corporate insiders own 1.17% of the company’s stock.
About Moody’s Corporation
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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