Moody’s Corp. (MCO) Position Reduced by Huntington National Bank
Huntington National Bank cut its stake in Moody’s Corp. (NYSE:MCO) by 27.1% during the second quarter, Holdings Channel reports. The firm owned 8,192 shares of the company’s stock after selling 3,044 shares during the period. Huntington National Bank’s holdings in Moody’s Corp. were worth $768,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. NN Investment Partners Holdings N.V. acquired a new stake in shares of Moody’s Corp. during the first quarter valued at $103,000. FNY Managed Accounts LLC acquired a new stake in shares of Moody’s Corp. during the second quarter valued at $190,000. BlueMountain Capital Management LLC acquired a new stake in shares of Moody’s Corp. during the first quarter valued at $210,000. Fisher Asset Management LLC boosted its stake 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, CIBC World Markets Inc. acquired a new stake in shares of Moody’s Corp. during the second quarter valued at $220,000. Institutional investors and hedge funds own 86.89% of the company’s stock.
Moody’s Corp. (NYSE:MCO) traded up 1.03% during midday trading on Tuesday, reaching $107.80. 1,252,523 shares of the company’s stock were exchanged. The stock has a market cap of $20.72 billion, a PE ratio of 24.07 and a beta of 1.35. Moody’s Corp. has a 12 month low of $77.76 and a 12 month high of $110.83. The firm has a 50 day moving average of $108.53 and a 200-day moving average of $101.53.
Moody’s Corp. (NYSE:MCO) last issued its earnings results on Friday, July 22nd. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.27 by $0.03. Moody’s Corp. had a net margin of 25.81% and a negative return on equity of 273.01%. The company had revenue of $928.90 million for the quarter, compared to the consensus estimate of $909.08 million. During the same period in the previous year, the firm earned $1.28 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts predict that Moody’s Corp. will post $4.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 21st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.37%. Moody’s Corp.’s dividend payout ratio (DPR) is currently 33.18%.
Several equities analysts have recently commented on MCO shares. Cantor Fitzgerald restated a “hold” rating and issued a $96.00 target price on shares of Moody’s Corp. in a research report on Friday, July 22nd. Credit Suisse Group AG started coverage on shares of Moody’s Corp. in a research report on Monday, July 11th. They issued a “neutral” rating and a $99.00 target price for the company. 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. Morgan Stanley set a $112.00 target price on shares of Moody’s Corp. and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Barclays PLC boosted their target price on shares of Moody’s Corp. from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, September 21st. Seven analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $108.77.
In related news, insider Robert Fauber sold 17,796 shares of Moody’s Corp. stock in a transaction on Monday, August 8th. The shares were sold at an average price of $104.78, for a total value of $1,864,664.88. Following the sale, the insider now owns 49,527 shares in the company, valued at $5,189,439.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John J. Goggins sold 24,250 shares of Moody’s Corp. stock in a transaction on Monday, August 8th. The shares were sold at an average price of $104.53, for a total transaction of $2,534,852.50. Following the completion of the sale, the executive vice president now owns 75,291 shares in the company, valued at approximately $7,870,168.23. The disclosure for this sale can be found here. 1.48% of the stock is currently owned by corporate insiders.
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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