Legal & General Group Plc Has $96.39 Million Stake in Moody’s Corporation (MCO)
Legal & General Group Plc decreased its stake in Moody’s Corporation (NYSE:MCO) by 6.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 792,150 shares of the business services provider’s stock after selling 53,334 shares during the period. Legal & General Group Plc owned about 0.41% of Moody’s Corporation worth $96,389,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Moody’s Corporation during the first quarter worth about $101,000. TrimTabs Asset Management LLC boosted its position in shares of 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 worth $108,000 after buying an additional 456 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in shares of Moody’s Corporation during the first quarter worth about $108,000. State of Alaska Department of Revenue purchased a new position in shares of Moody’s Corporation during the first quarter worth about $113,000. Finally, Advisory Services Network LLC purchased a new position in shares of Moody’s Corporation during the first quarter worth about $137,000. Institutional investors own 88.46% of the company’s stock.
Shares of Moody’s Corporation (NYSE MCO) opened at 132.02 on Thursday. The stock has a 50 day moving average of $128.65 and a 200-day moving average of $118.49. The company has a market cap of $25.22 billion, a price-to-earnings ratio of 53.04 and a beta of 1.29. Moody’s Corporation has a 12 month low of $93.51 and a 12 month high of $135.20.
Moody’s Corporation (NYSE:MCO) last released its earnings results on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.18. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $968.78 million. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that Moody’s Corporation will post $5.60 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.15%. Moody’s Corporation’s dividend payout ratio is currently 61.29%.
COPYRIGHT VIOLATION WARNING: “Legal & General Group Plc Has $96.39 Million Stake in Moody’s Corporation (MCO)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/24/legal-general-group-plc-has-96-39-million-stake-in-moodys-corporation-mco.html.
A number of research analysts recently issued reports on the stock. Barclays PLC boosted their price objective on shares of Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, June 28th. BMO Capital Markets restated a “hold” rating and set a $124.00 price objective on shares of Moody’s Corporation in a report on Wednesday, April 26th. Morgan Stanley boosted their price objective on shares of Moody’s Corporation from $118.00 to $121.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. Zacks Investment Research cut shares of Moody’s Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $128.00 price target (up previously from $116.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $129.29.
In other news, insider Raymond W. Mcdaniel sold 61,666 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $123.23, for a total value of $7,599,101.18. Following the sale, the insider now directly owns 308,760 shares of the company’s stock, valued at $38,048,494.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $129.03, for a total value of $5,834,220.48. Following the completion of the sale, the insider now directly owns 292,310 shares in the company, valued at $37,716,759.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,777 shares of company stock worth $22,642,272. Insiders own 1.17% of the company’s stock.
Moody’s Corporation 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 research and analytical services to financial institution customers.
Want to see what other hedge funds are holding MCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moody’s Corporation (NYSE:MCO).
Receive News & Stock Ratings for Moody's Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's Corporation and related stocks with our FREE daily email newsletter.