Korea Investment CORP Buys 50,035 Shares of Moody’s Corporation (MCO)
Korea Investment CORP increased its stake in Moody’s Corporation (NYSE:MCO) by 115.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 93,398 shares of the business services provider’s stock after buying an additional 50,035 shares during the period. Korea Investment CORP’s holdings in Moody’s Corporation were worth $11,365,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new position in shares of Moody’s Corporation during the first quarter valued at $101,000. TrimTabs Asset Management LLC boosted its position in shares of Moody’s Corporation by 89.6% in the first quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock valued at $108,000 after buying an additional 456 shares in the last quarter. American Beacon Advisors Inc. bought a new position in shares of Moody’s Corporation during the first quarter valued at $108,000. State of Alaska Department of Revenue bought a new position in shares of Moody’s Corporation during the first quarter valued at $113,000. Finally, Advisory Services Network LLC bought a new position in shares of Moody’s Corporation during the first quarter valued at $137,000. Institutional investors and hedge funds own 88.81% of the company’s stock.
Shares of Moody’s Corporation (MCO) opened at 127.70 on Wednesday. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $135.20. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of 51.31 and a beta of 1.29. The stock’s 50 day moving average is $125.51 and its 200 day moving average is $115.83.
Moody’s Corporation (NYSE:MCO) last announced its earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.18. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $968.78 million. During the same quarter last year, the business earned $1.30 earnings per share. Moody’s Corporation’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Moody’s Corporation will post $5.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors 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 dividend on an annualized basis and a yield of 1.19%. Moody’s Corporation’s dividend payout ratio (DPR) is currently 61.29%.
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Several research firms have recently commented on MCO. BidaskClub lowered 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 raised shares of Moody’s Corporation from a “sell” rating to a “buy” rating and set a $140.00 price target on the stock 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 reaffirmed a “hold” rating and set a $116.00 price target on shares of Moody’s Corporation in a research report on Monday, May 8th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Moody’s Corporation presently has a consensus rating of “Hold” and a consensus target price of $127.13.
In related news, insider Raymond W. Mcdaniel sold 45,216 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $129.03, for a total transaction of $5,834,220.48. Following the sale, the insider now owns 292,310 shares in the company, valued at $37,716,759.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Raymond W. Mcdaniel sold 61,667 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,828 shares of company stock worth $30,938,654. 1.17% of the stock is owned by company insiders.
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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