Moody’s Corporation (MCO) is Triple Frond Partners LLC’s 3rd Largest Position
Triple Frond Partners LLC held its stake in Moody’s Corporation (NYSE:MCO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,034,075 shares of the business services provider’s stock at the close of the second quarter. Moody’s Corporation accounts for 16.5% of Triple Frond Partners LLC’s portfolio, making the stock its 3rd biggest position. Triple Frond Partners LLC owned approximately 0.54% of Moody’s Corporation worth $125,826,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of MCO. Oppenheimer Asset Management Inc. acquired a new position in shares of Moody’s Corporation during the first quarter worth $101,000. American Beacon Advisors Inc. acquired a new position in shares of Moody’s Corporation during the first quarter worth $108,000. IFP Advisors Inc lifted its holdings in shares of Moody’s Corporation by 78.1% during the second quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock worth $139,000 after purchasing an additional 502 shares during the period. Sun Life Financial INC lifted its holdings in shares of Moody’s Corporation by 12,200.0% during the second quarter. Sun Life Financial INC now owns 1,230 shares of the business services provider’s stock worth $150,000 after purchasing an additional 1,220 shares during the period. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Moody’s Corporation by 0.6% during the second quarter. Salem Investment Counselors Inc. now owns 1,346 shares of the business services provider’s stock worth $164,000 after purchasing an additional 8 shares during the period. Institutional investors own 88.75% of the company’s stock.
In related news, insider Raymond W. Mcdaniel sold 45,216 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $129.03, for a total value of $5,834,220.48. Following the completion of the transaction, the insider now directly owns 292,310 shares in the company, valued at approximately $37,716,759.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Darrell Duffie sold 500 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $138.41, for a total transaction of $69,205.00. Following the completion of the transaction, the director now owns 21,804 shares of the company’s stock, valued at $3,017,891.64. The disclosure for this sale can be found here. Insiders sold a total of 90,932 shares of company stock valued at $11,969,604 over the last 90 days. Company insiders own 1.17% of the company’s stock.
Moody’s Corporation (MCO) traded down 0.397% during midday trading on Monday, reaching $141.925. 195,260 shares of the company’s stock traded hands. The stock has a market cap of $27.11 billion, a P/E ratio of 57.021 and a beta of 1.28. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $143.98. The company’s 50-day moving average price is $136.00 and its 200-day moving average price is $124.04.
Moody’s Corporation (NYSE:MCO) last issued its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.18. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $968.78 million. During the same period in the prior year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts predict that Moody’s Corporation will post $5.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 22nd were issued a $0.38 dividend. The ex-dividend date was Friday, August 18th. This represents a $1.52 annualized dividend and a yield of 1.07%. Moody’s Corporation’s dividend payout ratio (DPR) is presently 61.29%.
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MCO has been the topic of a number of recent research reports. BidaskClub lowered shares of Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Barclays PLC lifted their price target on shares of Moody’s Corporation from $118.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 28th. Zacks Investment Research lowered shares of Moody’s Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BMO Capital Markets lifted their price target on shares of Moody’s Corporation from $124.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, July 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $128.00 target price (up previously from $116.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $140.63.
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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