Mirae Asset Global Investments Co. Ltd. increased its stake in Moody’s Co. (NYSE:MCO – Get Rating) by 31.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor held 28,077 shares of the business services provider after purchasing an additional 6,791 shares during the period. The holdings of Mirae Asset Global Investments Co. Ltd. in Moody’s were worth $9,473,000 at the end of the most recent period.
Other institutional investors and hedge funds also bought and sold shares of the company. Qube Research & Technologies Ltd increased its position in Moody’s shares by 87.6% during the fourth quarter. Qube Research & Technologies Ltd now owns 98,032 shares of the business services provider valued at $38,289,000 after buying an additional 45,765 shares last quarter. Cambridge Investment Research Advisors Inc. increased its holdings of Moody’s shares by 5.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,164 shares of the business services provider valued at $1,626,000 after buying 207 additional shares last quarter. EverSource Wealth Advisors LLC purchased a new equity stake in Moody’s in Q4 for approximately $52,000. Benjamin F. Edwards & Company Inc. increased its stake in Moody’s stock by 31.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the business services provider worth $103,000 after acquiring 63 additional shares in the last quarter. Finally, American Century Companies Inc. increased its position in Moody’s by 43.2% during the 4th quarter. American Century Companies Inc. now owns 154,524 shares of the business services provider valued at $60,354,000 after acquiring an additional 46,584 shares during the period. 91.43% of the shares are currently held by hedge funds and other institutional investors.
Moody’s down 2.8%
MCO shares opened at $310.89 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt ratio of 2.89. Moody’s Co. has a 12-month low of $251.01 and a 12-month high of $407.94. The stock has a market capitalization of $57.05 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.07 and a beta of 1.20. The company’s 50-day moving average is $289.19 and its 200-day moving average is $307.06.
Moody’s (NYSE:MCO – Get Rating) last released its quarterly results on Tuesday, July 26. The business services provider reported earnings per share (EPS) of $2.22 for the quarter, missing analyst consensus estimates of $2.34 per ($0.12). The company posted revenue of $1.38 billion in the quarter, versus $1.43 billion expected by analysts. Moody’s achieved a return on equity of 71.12% and a net margin of 28.92%. The company’s quarterly revenue was down 11.1% year over year. In the same quarter last year, the company earned earnings per share of $3.22. Research analysts expect Moody’s Co. to post earnings per share of 9.48 for the current year.
Moody’s announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9. Shareholders of record on Friday, August 19 will receive a dividend of $0.70. This represents an annualized dividend of $2.80 and a dividend yield of 0.90%. The ex-dividend date is Thursday, August 18. Moody’s dividend payout ratio (DPR) is currently 30.24%.
Insider Activity at Moody’s
In other news from Moody’s, Senior Vice President Caroline Sullivan sold 326 shares in a trade that took place Thursday, August 4. The shares were sold at an average price of $310.68, for a total value of $101,281.68. Following the transaction, the senior vice president now directly owns 1,806 shares of the company, valued at $561,088.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news from Moody’s, insider Michael L. West sold 780 shares of the company in a trade dated Wednesday, August 3. The stock was sold at an average price of $310.53, for a total value of $242,213.40. Following the completion of the sale, the insider now owns 8,330 shares of the company, valued at $2,586,714.90. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, Senior Vice President Caroline Sullivan sold 326 shares of Moody’s in a trade dated Thursday, August 4. The shares were sold at an average price of $310.68, for a total value of $101,281.68. Following the transaction, the senior vice president now directly owns 1,806 shares of the company, valued at $561,088.08. The disclosure of this sale can be found here. 0.38% of the shares are currently held by insiders of the company.
Analyst upgrades and downgrades
A number of stock analysts have weighed in on MCO shares. Royal Bank of Canada lowered its target price on Moody’s shares from $344.00 to $329.00 in a Tuesday, June 7 research note. BMO Capital Markets raised its price target on Moody’s from $309.00 to $352.00 and gave the company an “outperform” rating in a Monday, Aug. 15 research note. Robert W. Baird cut his target price on Moody’s from $363.00 to $342.00 in a Tuesday, May 3 research note. UBS Group lowered its price target on Moody’s from $308.00 to $288.00 and set a “neutral” rating for the company in a Monday, June 6 research report. Finally, Raymond James cut his price target on Moody’s shares from $364.00 to $327.00 and set an “outperform” rating for the company in a Tuesday, July 12 research note. Seven research analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $325.92.
Profile of Moody
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Moody’s Corporation operates as an integrated risk rating firm worldwide. It operates in two segments, Moody’s Investors Service and Moody’s Analytics. Moody’s Investors Service segment publishes credit ratings and provides valuation services on various debt securities, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution and government bonds, as well as structured finance securities.
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