Plato Investment Management Ltd bought a new position in Moody’s Corporation (NYSE:MCO – Free Report) during the second quarter, Holdings Channel reports. The firm bought 4,281 shares of the business services provider’s stock, valued at approximately $1,928,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sivia Capital Partners LLC purchased a new stake in Moody’s in the 2nd quarter worth approximately $267,000. Federated Hermes Inc. increased its holdings in shares of Moody’s by 15.5% during the 2nd 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 lifted its stake in shares of Moody’s by 6.2% in the 2nd 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 during the period. CIBC Asset Management Inc boosted its holdings 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 worth $12,692,000 after buying an additional 929 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Moody’s by 0.4% during the second quarter. Treasurer of the State of North Carolina now owns 72,615 shares of the business services provider’s stock worth $36,423,000 after buying an additional 280 shares in the last quarter. 92.11% of the stock is owned by institutional investors and hedge funds.
Moody’s Price Performance
Moody’s stock opened at $477.85 on Tuesday. The stock has a market capitalization of $82.76 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.40 and a beta of 1.33. The company’s fifty day moving average price is $475.32 and its 200 day moving average price is $458.80. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.19 and a current ratio of 1.19. Moody’s Corporation has a 1 year low of $402.28 and a 1 year high of $546.88.
Moody’s Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 14th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.12 dividend on an annualized basis and a yield of 0.9%. Moody’s’s dividend payout ratio (DPR) is currently 26.13%.
Analyst Ratings Changes
A number of research firms have weighed in on MCO. Wells Fargo & Company lifted their price objective on shares of Moody’s from $590.00 to $597.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. BMO Capital Markets increased their target price on shares of Moody’s from $489.00 to $515.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 7th. Rothschild & Co Redburn set a $500.00 target price on Moody’s in a research report on Thursday, June 18th. Jefferies Financial Group initiated coverage on Moody’s in a research note on Friday, July 17th. They issued a “buy” rating and a $610.00 price target for the company. Finally, Weiss Ratings raised Moody’s from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five 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 $553.61.
View Our Latest Stock Report on Moody’s
Insider Activity at Moody’s
In other Moody’s news, CEO Robert Fauber sold 1,467 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $484.30, for a total transaction of $710,468.10. Following the completion of the sale, the chief executive officer directly owned 51,964 shares in the company, valued at approximately $25,166,165.20. The trade was a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard G. Steele sold 158 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $453.67, for a total value of $71,679.86. Following the transaction, the senior vice president directly owned 1,985 shares of the company’s stock, valued at $900,534.95. The trade was a 7.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 3,092 shares of company stock valued at $1,447,682. 0.14% of the stock is owned by company insiders.
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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