Summitry LLC boosted its holdings in shares of Moody’s Corporation (NYSE:MCO – Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,001 shares of the business services provider’s stock after purchasing an additional 1,867 shares during the quarter. Moody’s comprises about 1.7% of Summitry LLC’s investment portfolio, making the stock its 24th largest position. Summitry LLC’s holdings in Moody’s were worth $40,868,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of MCO. Sivia Capital Partners LLC purchased a new stake in Moody’s during the second quarter valued at $267,000. Federated Hermes Inc. raised its stake in Moody’s by 15.5% during the second quarter. Federated Hermes Inc. now owns 10,916 shares of the business services provider’s stock valued at $5,475,000 after purchasing an additional 1,461 shares in the last quarter. NewEdge Advisors LLC raised its stake in Moody’s by 6.2% during the second quarter. NewEdge Advisors LLC now owns 1,468 shares of the business services provider’s stock valued at $736,000 after purchasing an additional 86 shares in the last quarter. CIBC Asset Management Inc raised its stake in Moody’s by 3.8% during the second quarter. CIBC Asset Management Inc now owns 25,303 shares of the business services provider’s stock valued at $12,692,000 after purchasing an additional 929 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Moody’s by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 72,615 shares of the business services provider’s stock valued at $36,423,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 92.11% of the company’s stock.
Moody’s Trading Up 0.0%
Shares of MCO opened at $449.30 on Tuesday. Moody’s Corporation has a twelve month low of $402.28 and a twelve month high of $546.88. The company has a market cap of $78.49 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.42 and a beta of 1.37. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.03. The company’s fifty day simple moving average is $444.01 and its 200-day simple moving average is $472.28.
Moody’s Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be issued a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 0.9%. Moody’s’s dividend payout ratio is presently 29.53%.
Analyst Ratings Changes
Several brokerages have recently weighed in on MCO. Evercore reissued an “outperform” rating and issued a $610.00 target price on shares of Moody’s in a research note on Thursday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Moody’s from $600.00 to $560.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. BMO Capital Markets reissued a “market perform” rating and issued a $489.00 target price on shares of Moody’s in a research note on Thursday, April 23rd. Stifel Nicolaus reduced their target price on shares of Moody’s from $574.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Finally, UBS Group reduced their target price on shares of Moody’s from $515.00 to $490.00 and set a “neutral” rating on the stock in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Moody’s has a consensus rating of “Moderate Buy” and an average price target of $544.29.
View Our Latest Research Report on MCO
Insider Transactions at Moody’s
In other news, CEO Robert Fauber sold 5,213 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $456.71, for a total value of $2,380,829.23. Following the transaction, the chief executive officer directly owned 75,789 shares in the company, valued at approximately $34,613,594.19. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard G. Steele sold 375 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $456.71, for a total transaction of $171,266.25. Following the completion of the transaction, the senior vice president owned 2,459 shares in the company, valued at approximately $1,123,049.89. The trade was a 13.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 8,680 shares of company stock worth $3,952,188. Company insiders own 0.14% of the company’s stock.
About Moody’s
Moody’s Corporation is a global provider of credit ratings, research, data and analytics that support financial decision-making and transparency in capital markets. The company traces its origins to the early 20th century when financial analyst John Moody began publishing credit information; today Moody’s is headquartered in New York and serves a broad set of market participants including investors, issuers, financial institutions, corporations, governments and regulators.
Moody’s operates primarily through two complementary businesses.
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