Moody’s Corporation (MCO) Shares Bought by State of Wisconsin Investment Board
State of Wisconsin Investment Board boosted its position in shares of Moody’s Corporation (NYSE:MCO) by 11.2% during the second quarter, Holdings Channel reports. The institutional investor owned 286,367 shares of the business services provider’s stock after buying an additional 28,940 shares during the period. State of Wisconsin Investment Board’s holdings in Moody’s Corporation were worth $34,845,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCO. Oppenheimer Asset Management Inc. bought a new position in shares of Moody’s Corporation during the first quarter worth about $101,000. TrimTabs Asset Management LLC boosted its stake in Moody’s Corporation by 89.6% in the first quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock valued at $108,000 after buying an additional 456 shares during the last quarter. American Beacon Advisors Inc. acquired a new stake in Moody’s Corporation during the first quarter valued at about $108,000. State of Alaska Department of Revenue acquired a new stake in Moody’s Corporation during the first quarter valued at about $113,000. Finally, Advisory Services Network LLC acquired a new stake in Moody’s Corporation during the first quarter valued at about $137,000. 88.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Moody’s Corporation (NYSE MCO) opened at 132.09 on Thursday. The company has a market cap of $25.23 billion, a P/E ratio of 53.07 and a beta of 1.29. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $135.20. The firm has a 50-day moving average of $127.51 and a 200-day moving average of $117.52.
Moody’s Corporation (NYSE:MCO) last released its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.18. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $968.78 million. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 earnings per share. Equities research analysts forecast that Moody’s Corporation will post $5.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.52 annualized dividend and a yield of 1.15%. Moody’s Corporation’s dividend payout ratio is presently 61.29%.
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Several research firms recently issued reports on MCO. Zacks Investment Research cut Moody’s Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS AG reissued a “neutral” rating and issued a $138.00 target price (up from $121.00) on shares of Moody’s Corporation in a research note on Tuesday, July 25th. Morgan Stanley reissued an “equal weight” rating and issued a $131.00 target price (up from $122.00) on shares of Moody’s Corporation in a research note on Tuesday, July 25th. Barclays PLC reissued an “equal weight” rating and issued a $135.00 target price (up from $128.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $128.00 price objective (up from $116.00) on shares of Moody’s Corporation in a report on Monday, July 24th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $127.13.
In other news, SVP Blair Worrall sold 11,384 shares of Moody’s Corporation stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $114.76, for a total value of $1,306,427.84. Following the sale, the senior vice president now owns 19,359 shares in the company, valued at $2,221,638.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Raymond W. Mcdaniel sold 61,666 shares of Moody’s Corporation stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $123.23, for a total transaction of $7,599,101.18. Following the completion of the sale, the insider now owns 308,760 shares in the company, valued at approximately $38,048,494.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,161 shares of company stock worth $23,948,699. 1.17% of the stock is owned by company insiders.
About Moody’s Corporation
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 research and analytical services to financial institution customers.
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