Moody’s Corp. (MCO) Position Increased by KBC Group NV
KBC Group NV increased its position in shares of Moody’s Corp. (NYSE:MCO) by 29.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,459 shares of the company’s stock after buying an additional 19,229 shares during the period. KBC Group NV’s holdings in Moody’s Corp. were worth $9,037,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Commonwealth Equity Services Inc increased its position in Moody’s Corp. by 0.8% in the second quarter. Commonwealth Equity Services Inc now owns 3,552 shares of the company’s stock valued at $333,000 after buying an additional 27 shares during the period. MSI Financial Services Inc increased its position in Moody’s Corp. by 1.1% in the third quarter. MSI Financial Services Inc now owns 2,568 shares of the company’s stock valued at $278,000 after buying an additional 27 shares during the period. Conning Inc. increased its position in Moody’s Corp. by 0.9% in the third quarter. Conning Inc. now owns 4,353 shares of the company’s stock valued at $471,000 after buying an additional 40 shares during the period. Nippon Life Insurance Co. increased its position in Moody’s Corp. by 0.3% in the second quarter. Nippon Life Insurance Co. now owns 17,116 shares of the company’s stock valued at $1,604,000 after buying an additional 43 shares during the period. Finally, Fisher Asset Management LLC increased its position in Moody’s Corp. by 3.3% in the third quarter. Fisher Asset Management LLC now owns 2,335 shares of the company’s stock valued at $253,000 after buying an additional 75 shares during the period. 85.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Moody’s Corp. (NYSE:MCO) traded up 0.32% during trading on Tuesday, reaching $101.21. The company’s stock had a trading volume of 356,275 shares. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 21.83 and a beta of 1.36. The company has a 50-day moving average price of $102.35 and a 200-day moving average price of $102.50. Moody’s Corp. has a one year low of $77.76 and a one year high of $110.83.
Moody’s Corp. (NYSE:MCO) last released its quarterly earnings results on Friday, October 21st. The company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.16. Moody’s Corp. had a negative return on equity of 260.34% and a net margin of 25.88%. The company had revenue of $917.10 million for the quarter, compared to analyst estimates of $894.05 million. During the same quarter in the prior year, the firm posted $1.11 EPS. Moody’s Corp.’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Moody’s Corp. will post $4.70 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 21st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, November 17th. Moody’s Corp.’s dividend payout ratio (DPR) is presently 31.97%.
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Several research analysts have commented on MCO shares. Credit Suisse Group AG started coverage on shares of Moody’s Corp. in a research note on Sunday, November 20th. They set a “neutral” rating and a $94.00 price target on the stock. Cantor Fitzgerald set a $105.00 target price on shares of Moody’s Corp. and gave the stock a “hold” rating in a report on Thursday, September 29th. Barclays PLC cut their target price on shares of Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, August 23rd. BMO Capital Markets restated a “market perform” rating and issued a $112.00 target price (up previously from $104.00) on shares of Moody’s Corp. in a report on Friday, September 30th. Finally, Zacks Investment Research cut shares of Moody’s Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 7th. Seven analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Moody’s Corp. currently has a consensus rating of “Hold” and an average target price of $108.32.
In other Moody’s Corp. news, insider Robert Fauber sold 625 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $99.73, for a total value of $62,331.25. Following the transaction, the insider now owns 41,296 shares of the company’s stock, valued at approximately $4,118,450.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond W. Mcdaniel sold 7,000 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $108.11, for a total value of $756,770.00. Following the completion of the transaction, the insider now directly owns 227,762 shares in the company, valued at approximately $24,623,349.82. The disclosure for this sale can be found here. 1.48% of the stock is owned by company insiders.
Moody’s Corp. Company Profile
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services; quantitative credit risk measures, financial services training and certification services, and outsourced research and analytical services to financial institution customers.
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