Iberiabank Corp reduced its stake in Moody’s Co. (NYSE:MCO) by 49.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 744 shares of the business services provider’s stock after selling 714 shares during the period. Iberiabank Corp’s holdings in Moody’s were worth $204,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in MCO. BlackRock Inc. raised its position in Moody’s by 2.6% in the 1st quarter. BlackRock Inc. now owns 11,203,890 shares of the business services provider’s stock valued at $2,369,626,000 after purchasing an additional 286,170 shares in the last quarter. Geode Capital Management LLC lifted its stake in Moody’s by 1.7% in the first quarter. Geode Capital Management LLC now owns 2,693,717 shares of the business services provider’s stock worth $568,771,000 after acquiring an additional 44,779 shares during the last quarter. Windacre Partnership LLC grew its holdings in Moody’s by 32.6% during the 1st quarter. Windacre Partnership LLC now owns 2,149,700 shares of the business services provider’s stock worth $454,662,000 after acquiring an additional 528,500 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd increased its position in shares of Moody’s by 1.9% in the 1st quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,939,102 shares of the business services provider’s stock valued at $410,120,000 after purchasing an additional 35,994 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Moody’s by 2.7% in the 1st quarter. Capital World Investors now owns 1,857,789 shares of the business services provider’s stock valued at $392,929,000 after purchasing an additional 48,396 shares in the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.
In related news, CEO Raymond W. Mcdaniel sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $245.64, for a total value of $1,842,300.00. Following the sale, the chief executive officer now owns 242,131 shares in the company, valued at approximately $59,477,058.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Goggins sold 17,927 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $251.94, for a total value of $4,516,528.38. Following the completion of the sale, the executive vice president now owns 63,718 shares in the company, valued at approximately $16,053,112.92. The disclosure for this sale can be found here. Insiders have sold 60,727 shares of company stock worth $16,235,465 over the last 90 days. 0.79% of the stock is currently owned by company insiders.
MCO opened at $281.30 on Friday. The company has a debt-to-equity ratio of 9.17, a current ratio of 2.10 and a quick ratio of 1.70. Moody’s Co. has a 12 month low of $164.19 and a 12 month high of $296.66. The stock has a market capitalization of $52.74 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.14 and a beta of 1.19. The business has a 50 day simple moving average of $281.46 and a 200-day simple moving average of $255.09.
Moody’s (NYSE:MCO) last released its quarterly earnings data on Thursday, July 30th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.55. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Moody’s had a return on equity of 204.46% and a net margin of 33.38%. Moody’s’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 earnings per share. Research analysts anticipate that Moody’s Co. will post 9.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.56 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.24 annualized dividend and a yield of 0.80%. Moody’s’s payout ratio is currently 27.02%.
A number of research firms have weighed in on MCO. Oppenheimer started coverage on Moody’s in a research note on Monday, May 18th. They issued an “outperform” rating and a $290.00 price target on the stock. Goldman Sachs Group boosted their target price on Moody’s from $258.00 to $295.00 in a research note on Wednesday, July 8th. BMO Capital Markets upped their price target on Moody’s from $285.00 to $298.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Wells Fargo & Co boosted their price objective on shares of Moody’s from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, UBS Group upped their target price on shares of Moody’s from $344.00 to $358.00 and gave the company a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Moody’s presently has an average rating of “Buy” and an average target price of $290.75.
Moody's Corporation provides credit ratings; and credit, capital markets, and economic 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, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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