Rhumbline Advisers Has $40.63 Million Position in Moody’s Corporation (NYSE:MCO)
Rhumbline Advisers boosted its position in shares of Moody’s Corporation (NYSE:MCO) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 333,939 shares of the business services provider’s stock after buying an additional 8,851 shares during the period. Rhumbline Advisers’ holdings in Moody’s Corporation were worth $40,634,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in MCO. Naples Global Advisors LLC purchased a new stake in shares of Moody’s Corporation during the first quarter worth $229,000. Retirement Systems of Alabama raised its stake in shares of Moody’s Corporation by 1.8% in the first quarter. Retirement Systems of Alabama now owns 80,238 shares of the business services provider’s stock worth $8,990,000 after buying an additional 1,395 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Moody’s Corporation during the first quarter worth $113,000. Rothschild Investment Corp IL bought a new stake in shares of Moody’s Corporation during the first quarter valued at approximately $201,000. Finally, Oakbrook Investments LLC raised its stake in shares of Moody’s Corporation by 79.5% in the first quarter. Oakbrook Investments LLC now owns 13,100 shares of the business services provider’s stock valued at $1,468,000 after buying an additional 5,800 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.
Shares of Moody’s Corporation (MCO) opened at 127.76 on Friday. The company’s 50-day moving average is $126.54 and its 200 day moving average is $116.82. Moody’s Corporation has a 52 week low of $93.51 and a 52 week high of $135.20. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of 51.33 and a beta of 1.29.
Moody’s Corporation (NYSE:MCO) last posted its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.18. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $968.78 million. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. Analysts anticipate that Moody’s Corporation will post $5.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be issued a $0.38 dividend. The ex-dividend date is Friday, August 18th. This represents a $1.52 annualized dividend and a yield of 1.19%. Moody’s Corporation’s dividend payout ratio is presently 61.29%.
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MCO has been the topic of several research analyst reports. BidaskClub lowered shares of Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research note 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 on the stock in a research note 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 stock an “equal weight” rating in a research note 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 stock an “equal weight” rating in a research note on Wednesday, June 28th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $116.00 price target on shares of Moody’s Corporation in a research note on Monday, May 8th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Moody’s Corporation has a consensus rating of “Hold” and a consensus target price of $127.13.
In related news, insider Raymond W. Mcdaniel sold 61,667 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $113.35, for a total value of $6,989,954.45. Following the sale, the insider now directly owns 308,761 shares of the company’s stock, valued at $34,998,059.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Blair Worrall sold 11,384 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $114.76, for a total transaction of $1,306,427.84. Following the completion of the sale, the senior vice president now directly owns 19,359 shares in the company, valued at $2,221,638.84. The disclosure for this sale can be found here. Insiders sold 257,828 shares of company stock worth $30,938,654 over the last ninety days. 1.17% of the stock is currently owned by corporate 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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