Ieq Capital LLC Buys 781 Shares of Moody’s Co. (NYSE:MCO)
Ieq Capital LLC increased its stake in shares of Moody’s Co. (NYSE:MCO) by 64.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,994 shares of the business services provider’s stock after buying an additional 781 shares during the period. Ieq Capital LLC’s holdings in Moody’s were worth $422,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Buckingham Asset Management LLC bought a new stake in shares of Moody’s during the 1st quarter worth about $485,000. Budros Ruhlin & Roe Inc. bought a new stake in shares of Moody’s during the 1st quarter worth about $990,000. MBE Wealth Management LLC bought a new stake in shares of Moody’s during the 1st quarter worth about $44,000. WASHINGTON TRUST Co bought a new stake in shares of Moody’s during the 1st quarter worth about $740,000. Finally, AE Wealth Management LLC raised its stake in Moody’s by 124.3% in the 1st quarter. AE Wealth Management LLC now owns 9,858 shares of the business services provider’s stock worth $2,085,000 after purchasing an additional 5,463 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:MCO traded down $2.56 during midday trading on Friday, hitting $251.31. The stock had a trading volume of 2,691,216 shares, compared to its average volume of 1,172,241. The company’s 50-day moving average price is $234.85 and its 200-day moving average price is $236.96. The company has a market capitalization of $46.97 billion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 3.08 and a beta of 1.17. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 8.47. Moody’s Co. has a fifty-two week low of $164.19 and a fifty-two week high of $287.25.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, May 19th. Moody’s’s dividend payout ratio is 27.02%.
In other Moody’s news, EVP John J. Goggins sold 17,927 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $251.94, for a total transaction of $4,516,528.38. Following the sale, the executive vice president now directly owns 63,718 shares of the company’s stock, valued at approximately $16,053,112.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen T. Tulenko sold 625 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $264.22, for a total transaction of $165,137.50. Following the sale, the insider now directly owns 13,169 shares in the company, valued at $3,479,513.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,657 shares of company stock valued at $18,759,715. 0.79% of the stock is owned by corporate insiders.
Several analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Moody’s from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. BMO Capital Markets lifted their price objective on shares of Moody’s from $248.00 to $285.00 in a research note on Friday, May 1st. Stifel Nicolaus lifted their price objective on shares of Moody’s from $266.00 to $279.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Cantor Fitzgerald lifted their price objective on shares of Moody’s from $233.00 to $266.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Co lifted their price objective on shares of Moody’s from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Moody’s has a consensus rating of “Buy” and an average price target of $260.80.
Moody’s Company Profile
Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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