Cullen Frost Bankers Inc. Purchases 733 Shares of Moody’s Corp. (MCO)
Cullen Frost Bankers Inc. increased its stake in Moody’s Corp. (NYSE:MCO) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,039 shares of the company’s stock after buying an additional 733 shares during the period. Cullen Frost Bankers Inc.’s holdings in Moody’s Corp. were worth $9,281,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. acquired a new stake in Moody’s Corp. during the first quarter valued at about $103,000. First Republic Investment Management Inc. acquired a new stake in Moody’s Corp. during the first quarter valued at about $209,000. BlueMountain Capital Management LLC acquired a new stake in Moody’s Corp. during the first quarter valued at about $210,000. Fisher Asset Management LLC raised its stake in Moody’s Corp. by 4.6% in the second quarter. Fisher Asset Management LLC now owns 2,260 shares of the company’s stock valued at $221,000 after buying an additional 100 shares in the last quarter. Finally, CIBC World Markets Inc. acquired a new stake in Moody’s Corp. during the second quarter valued at about $220,000. Hedge funds and other institutional investors own 86.91% of the company’s stock.
Shares of Moody’s Corp. (NYSE:MCO) traded up 0.64% during midday trading on Thursday, reaching $110.16. The company had a trading volume of 634,630 shares. The company has a 50 day moving average price of $106.54 and a 200-day moving average price of $99.67. The firm has a market capitalization of $21.18 billion, a P/E ratio of 24.60 and a beta of 1.26. Moody’s Corp. has a one year low of $77.76 and a one year high of $110.83.
Moody’s Corp. (NYSE:MCO) last released its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The business earned $928.90 million during the quarter, compared to the consensus estimate of $909.08 million. Moody’s Corp. had a negative return on equity of 273.01% and a net margin of 25.81%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 EPS. On average, analysts anticipate that Moody’s Corp. will post $4.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.34%. Moody’s Corp.’s payout ratio is presently 33.18%.
Several research firms have issued reports on MCO. Zacks Investment Research upgraded Moody’s Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. 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 on the stock. Barclays PLC upped their price objective on Moody’s Corp. from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday. Cantor Fitzgerald restated a “hold” rating and issued a $96.00 price objective on shares of Moody’s Corp. in a research note on Friday, July 22nd. Finally, Morgan Stanley set a $112.00 price objective on Moody’s Corp. and gave the company a “buy” rating in a research note on Friday, August 5th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $106.96.
In other news, VP Linda Huber sold 182,595 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $110.13, for a total value of $20,109,187.35. Following the transaction, the vice president now owns 63,637 shares in the company, valued at approximately $7,008,342.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $91.94, for a total value of $45,970.00. Following the completion of the transaction, the director now owns 22,090 shares in the company, valued at approximately $2,030,954.60. The disclosure for this sale can be found here. 1.48% of the stock is owned by insiders.
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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