Moody’s Co. (MCO) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. boosted its holdings in Moody’s Co. (NYSE:MCO) by 11.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,581 shares of the business services provider’s stock after buying an additional 3,137 shares during the quarter. Victory Capital Management Inc.’s holdings in Moody’s were worth $4,946,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Pinnacle Financial Partners Inc. acquired a new stake in shares of Moody’s during the third quarter valued at about $129,000. Flagship Harbor Advisors LLC bought a new position in shares of Moody’s during the second quarter worth about $140,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Moody’s during the third quarter worth about $192,000. United Asset Strategies Inc. bought a new position in shares of Moody’s during the second quarter worth about $201,000. Finally, FineMark National Bank & Trust bought a new position in shares of Moody’s during the second quarter worth about $205,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.
MCO has been the subject of a number of analyst reports. Nomura restated a “buy” rating and set a $193.00 price objective on shares of Moody’s in a research report on Monday, July 30th. BMO Capital Markets raised their price objective on Moody’s from $179.00 to $183.00 and gave the stock a “market perform” rating in a research report on Monday, July 30th. Stifel Nicolaus raised their price objective on Moody’s from $170.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, July 30th. Wells Fargo & Co raised their price objective on Moody’s from $160.00 to $172.00 and gave the stock a “market perform” rating in a research report on Monday, July 30th. Finally, William Blair restated a “buy” rating on shares of Moody’s in a research report on Sunday, August 12th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $177.33.
Moody’s (NYSE:MCO) last issued its earnings results on Friday, October 26th. The business services provider reported $1.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.09). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.13 billion. Moody’s had a return on equity of 412.48% and a net margin of 23.85%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 earnings per share. On average, research analysts anticipate that Moody’s Co. will post 7.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.76 dividend on an annualized basis and a yield of 1.19%. Moody’s’s payout ratio is currently 29.00%.
In other Moody’s news, SVP Blair Worrall sold 5,561 shares of Moody’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $147.43, for a total value of $819,858.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.
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Moody’s Company Profile
Moody's Corporation provides credit ratings; and credit, capital markets, and economic related research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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