Crossmark Global Holdings Inc. Purchases 4,803 Shares of Moody's Co. (MCO)
Crossmark Global Holdings Inc. increased its position in Moody's Co. (NYSE:MCO) by 33.5% in the 4th quarter, Holdings Channel reports. The fund owned 19,150 shares of the business services provider’s stock after purchasing an additional 4,803 shares during the period. Crossmark Global Holdings Inc.’s holdings in Moody's were worth $2,827,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. NorthCoast Asset Management LLC purchased a new stake in Moody's in the 4th quarter worth about $4,849,000. Public Employees Retirement Association of Colorado increased its holdings in Moody's by 3.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 33,320 shares of the business services provider’s stock worth $4,918,000 after acquiring an additional 1,059 shares during the last quarter. US Bancorp DE increased its holdings in Moody's by 2.1% in the 4th quarter. US Bancorp DE now owns 22,337 shares of the business services provider’s stock worth $3,297,000 after acquiring an additional 451 shares during the last quarter. Aperio Group LLC increased its holdings in Moody's by 1.6% in the 4th quarter. Aperio Group LLC now owns 85,273 shares of the business services provider’s stock worth $12,587,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Comerica Bank increased its holdings in Moody's by 5.2% in the 4th quarter. Comerica Bank now owns 81,737 shares of the business services provider’s stock worth $13,257,000 after acquiring an additional 4,019 shares during the last quarter. 87.16% of the stock is owned by institutional investors.
A number of research analysts have weighed in on MCO shares. Cantor Fitzgerald reaffirmed a “hold” rating and set a $148.00 target price on shares of Moody's in a report on Monday, November 6th. UBS Group lifted their target price on Moody's from $142.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Credit Suisse Group lifted their target price on Moody's from $137.00 to $161.00 and gave the company a “neutral” rating in a report on Monday, November 6th. BMO Capital Markets lifted their target price on Moody's from $143.00 to $146.00 and gave the company a “market perform” rating in a report on Monday, November 6th. Finally, Argus lifted their target price on Moody's to $165.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Moody's currently has an average rating of “Buy” and a consensus target price of $157.18.
Moody's (NYSE:MCO) last issued its quarterly earnings results on Friday, February 9th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.06. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. Moody's had a negative return on equity of 187.20% and a net margin of 13.73%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. equities research analysts expect that Moody's Co. will post 6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, February 16th. This is an increase from Moody's’s previous quarterly dividend of $0.38. Moody's’s dividend payout ratio (DPR) is 29.46%.
In other news, Director Ewald Kist sold 4,000 shares of Moody's stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $142.00, for a total transaction of $568,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Darrell Duffie sold 500 shares of Moody's stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $147.93, for a total value of $73,965.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,005 shares of company stock valued at $716,738. Corporate insiders own 1.17% of the company’s stock.
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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