Moody’s Corp. (MCO) Shares Sold by Conning Inc.
Conning Inc. cut its stake in shares of Moody’s Corp. (NYSE:MCO) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 4,313 shares of the company’s stock after selling 10 shares during the period. Conning Inc.’s holdings in Moody’s Corp. were worth $404,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of MCO. NN Investment Partners Holdings N.V. purchased a new stake in shares of Moody’s Corp. during the first quarter valued at approximately $103,000. BlueMountain Capital Management LLC bought a new position in shares of Moody’s Corp. during the first quarter valued at about $210,000. CIBC World Markets Inc. bought a new position in shares of Moody’s Corp. during the second quarter valued at about $220,000. Fisher Asset Management LLC increased 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 valued at $221,000 after buying an additional 100 shares during the period. Finally, ING Groep NV increased its position in shares of Moody’s Corp. by 83.4% in the first quarter. ING Groep NV now owns 3,893 shares of the company’s stock valued at $376,000 after buying an additional 1,770 shares during the period. Institutional investors own 86.91% of the company’s stock.
Shares of Moody’s Corp. (NYSE:MCO) traded up 0.49% during mid-day trading on Friday, hitting $108.28. The stock had a trading volume of 1,672,339 shares. Moody’s Corp. has a 1-year low of $77.76 and a 1-year high of $110.83. The stock’s 50-day moving average is $107.50 and its 200-day moving average is $100.40. The firm has a market capitalization of $20.82 billion, a PE ratio of 24.18 and a beta of 1.26.
Moody’s Corp. (NYSE:MCO) last released its quarterly earnings data on Friday, July 22nd. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.03. The business had revenue of $928.90 million for the quarter, compared to analyst estimates of $909.08 million. Moody’s Corp. had a negative return on equity of 273.01% and a net margin of 25.81%. Moody’s Corp.’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. Equities analysts expect that Moody’s Corp. will post $4.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.37%. The ex-dividend date was Thursday, August 18th. Moody’s Corp.’s dividend payout ratio (DPR) is presently 33.18%.
Several brokerages recently issued reports on MCO. Morgan Stanley set a $112.00 price target on shares of Moody’s Corp. and gave the stock a “buy” rating in a research report on Friday, August 5th. Barclays PLC reiterated an “overweight” rating and set a $95.00 price target on shares of Moody’s Corp. in a research report on Tuesday, June 28th. BMO Capital Markets reiterated a “market perform” rating and set a $112.00 price target (up previously from $104.00) on shares of Moody’s Corp. in a research report on Friday. Zacks Investment Research upgraded shares of Moody’s Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $96.00 price target on shares of Moody’s Corp. in a research report on Friday, July 22nd. Eight equities 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 company’s stock. The stock presently has an average rating of “Hold” and an average target price of $108.23.
In other news, EVP John J. Goggins sold 24,250 shares of Moody’s Corp. stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $104.53, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Linda Huber sold 182,595 shares of Moody’s Corp. stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $110.13, for a total value of $20,109,187.35. Following the sale, the vice president now directly owns 63,637 shares in the company, valued at $7,008,342.81. The disclosure for this sale can be found here. 1.48% of the stock is owned by corporate 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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