Moody’s Corporation (MCO) Shares Bought by BlackRock Inc.
BlackRock Inc. raised its stake in Moody’s Corporation (NYSE:MCO) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,350,596 shares of the business services provider’s stock after acquiring an additional 169,560 shares during the quarter. BlackRock Inc. owned approximately 5.42% of Moody’s Corporation worth $1,259,461,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in Moody’s Corporation in the first quarter valued at 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 acquiring an additional 456 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in Moody’s Corporation in the first quarter valued at about $108,000. IFP Advisors Inc boosted its stake in Moody’s Corporation by 78.1% in the second quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 502 shares during the last quarter. Finally, Smithfield Trust Co. boosted its stake in Moody’s Corporation by 6.7% in the second quarter. Smithfield Trust Co. now owns 1,427 shares of the business services provider’s stock valued at $174,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.
In related news, VP Linda Huber sold 13,697 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $122.05, for a total value of $1,671,718.85. Following the transaction, the vice president now owns 77,835 shares of the company’s stock, valued at $9,499,761.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Raymond W. Mcdaniel sold 61,666 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $123.23, for a total transaction of $7,599,101.18. Following the completion of the transaction, the insider now directly 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 three months, insiders sold 166,295 shares of company stock worth $21,232,039. 1.17% of the stock is currently owned by insiders.
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Shares of Moody’s Corporation (NYSE:MCO) opened at 136.33 on Friday. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $136.82. The stock has a 50 day moving average of $132.03 and a 200 day moving average of $121.18. The company has a market cap of $26.04 billion, a price-to-earnings ratio of 54.77 and a beta of 1.30.
Moody’s Corporation (NYSE:MCO) last posted its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.18. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $968.78 million. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. On average, equities research analysts expect that Moody’s Corporation will post $5.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, August 18th. Moody’s Corporation’s payout ratio is 61.29%.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Moody’s Corporation from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a research note on Thursday, August 17th. UBS AG boosted their target price on shares of Moody’s Corporation from $138.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, August 18th. Barclays PLC reiterated 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. BMO Capital Markets boosted their target price on shares of Moody’s Corporation from $124.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, July 14th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $128.00 target price (up from $116.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $138.86.
Moody’s Corporation 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.
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