Vanguard Group Inc. Purchases 463,669 Shares of Moody’s Corporation (MCO)
Vanguard Group Inc. boosted its position in Moody’s Corporation (NYSE:MCO) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,203,350 shares of the business services provider’s stock after acquiring an additional 463,669 shares during the period. Vanguard Group Inc. owned 8.48% of Moody’s Corporation worth $1,971,623,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of MCO. Oppenheimer Asset Management Inc. bought a new position in Moody’s Corporation in the first quarter valued at about $101,000. American Beacon Advisors Inc. bought a new position in Moody’s Corporation in the first quarter valued at about $108,000. IFP Advisors Inc boosted its holdings in Moody’s Corporation by 78.1% in the second quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 502 shares during the last quarter. Smithfield Trust Co. boosted its holdings in Moody’s Corporation by 6.7% in the second quarter. Smithfield Trust Co. now owns 1,427 shares of the business services provider’s stock valued at $174,000 after acquiring an additional 90 shares during the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV bought a new position in Moody’s Corporation in the second quarter valued at about $200,000. Institutional investors and hedge funds own 88.74% of the company’s stock.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Moody’s Corporation from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a report on Thursday, August 17th. UBS AG raised their price target on Moody’s Corporation from $138.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, August 18th. Barclays PLC reiterated an “equal weight” rating and issued a $135.00 price target (up previously from $128.00) on shares of Moody’s Corporation in a report on Monday, July 24th. BMO Capital Markets raised their price target on Moody’s Corporation from $124.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, July 14th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $128.00 target price (up previously from $116.00) on shares of Moody’s Corporation in a report on Monday, July 24th. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Moody’s Corporation presently has a consensus rating of “Hold” and a consensus target price of $138.86.
In related news, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $121.64, for a total transaction of $60,820.00. Following the sale, the director now owns 22,268 shares in the company, valued at approximately $2,708,679.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Raymond W. Mcdaniel sold 61,666 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $123.23, for a total value of $7,599,101.18. Following the sale, the insider now owns 308,760 shares in the company, valued at approximately $38,048,494.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,598 shares of company stock worth $19,560,320. 1.17% of the stock is owned by corporate insiders.
Shares of Moody’s Corporation (NYSE:MCO) traded up 0.40% during trading on Friday, reaching $137.20. The company’s stock had a trading volume of 51,863 shares. Moody’s Corporation has a 12 month low of $93.51 and a 12 month high of $137.32. The company’s 50 day moving average price is $132.31 and its 200 day moving average price is $121.66. The firm has a market cap of $26.21 billion, a PE ratio of 55.12 and a beta of 1.30.
Moody’s Corporation (NYSE:MCO) last released its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.18. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $968.78 million. During the same quarter in the previous year, the company posted $1.30 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that Moody’s Corporation will post $5.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd were given a dividend of $0.38 per share. The ex-dividend date was Friday, August 18th. This represents a $1.52 annualized dividend and a dividend yield of 1.11%. Moody’s Corporation’s payout ratio is 61.29%.
Moody’s Corporation 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 research and analytical services to financial institution customers.
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