Pictet Asset Management Holding SA Buys 6,687 Shares of Moody’s Corporation $MCO

Pictet Asset Management Holding SA grew its stake in Moody’s Corporation (NYSE:MCO) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,018 shares of the business services provider’s stock after buying an additional 6,687 shares during the quarter. Pictet Asset Management Holding SA owned 0.05% of Moody’s worth $40,880,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MCO. Bank of New York Mellon Corp raised its position in Moody’s by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 2,349,281 shares of the business services provider’s stock valued at $1,024,874,000 after acquiring an additional 72,043 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Moody’s by 2.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,420,099 shares of the business services provider’s stock valued at $643,191,000 after acquiring an additional 33,024 shares during the period. Principal Financial Group Inc. boosted its position in Moody’s by 72.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,081,807 shares of the business services provider’s stock worth $471,963,000 after purchasing an additional 454,684 shares in the last quarter. Amundi boosted its position in Moody’s by 20.0% in the 2nd quarter. Amundi now owns 1,011,495 shares of the business services provider’s stock worth $458,126,000 after purchasing an additional 168,528 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Moody’s by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 882,973 shares of the business services provider’s stock worth $385,188,000 after purchasing an additional 59,121 shares in the last quarter. Hedge funds and other institutional investors own 92.11% of the company’s stock.

Insider Transactions at Moody’s

In other news, CEO Robert Fauber sold 1,743 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $510.75, for a total value of $890,237.25. Following the completion of the transaction, the chief executive officer owned 51,364 shares of the company’s stock, valued at approximately $26,234,163. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jason Phillips sold 95 shares of Moody’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $519.33, for a total transaction of $49,336.35. Following the completion of the transaction, the insider owned 1,799 shares of the company’s stock, valued at $934,274.67. This trade represents a 5.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,282 shares of company stock valued at $6,509,459. 0.14% of the stock is currently owned by corporate insiders.

Moody’s Price Performance

MCO stock opened at $510.05 on Wednesday. The stock has a market cap of $87.93 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.72 and a beta of 1.30. Moody’s Corporation has a 52-week low of $402.28 and a 52-week high of $546.88. The business has a fifty day moving average of $477.43 and a two-hundred day moving average of $466.92. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.86.

Moody’s (NYSE:MCO) last announced its quarterly earnings results on Wednesday, October 21st. The business services provider reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.25 by ($0.11). Moody’s had a net margin of 35.26% and a return on equity of 84.76%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business earned $3.92 earnings per share. Moody’s’s revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that Moody’s Corporation will post 16.76 earnings per share for the current year.

Moody’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 20th. Moody’s’s dividend payout ratio is currently 25.11%.

Wall Street Analyst Weigh In

MCO has been the topic of several analyst reports. Daiwa Securities Group raised their price target on shares of Moody’s from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Jefferies Financial Group cut Moody’s to a “neutral” rating and set a $560.00 price target for the company. in a research report on Friday, October 16th. UBS Group reiterated a “neutral” rating and issued a $505.00 target price (up from $490.00) on shares of Moody’s in a research report on Thursday, July 23rd. Citigroup reissued a “buy” rating and issued a $600.00 price target (up from $565.00) on shares of Moody’s in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Moody’s from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $552.63.

Moody’s Profile

Moody’s Corporation is a global provider of credit ratings, research, data and risk-analysis services. Through Moody’s Investors Service, it assesses the creditworthiness of businesses, governments and financial instruments, providing ratings and related research to investors and other market participants. Its Moody’s Analytics business offers data, software and analytical tools used in areas such as credit and financial risk management, compliance, and economic research. The company serves clients across international markets, including financial institutions, corporations, governments and investors.