Forsta AP Fonden Has $17.78 Million Stock Position in Moody’s Co. (NYSE:MCO)

Forsta AP Fonden decreased its position in Moody’s Co. (NYSE:MCOGet Rating) by 6.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,700 shares of the business services provider’s stock after selling 3,900 shares during the period. Forsta AP Fonden’s holdings in Moody’s were worth $17,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MCO. American National Bank grew its holdings in shares of Moody’s by 177.1% in the 1st quarter. American National Bank now owns 97 shares of the business services provider’s stock valued at $33,000 after buying an additional 62 shares during the period. City State Bank acquired a new position in Moody’s in the 4th quarter worth $35,000. Confluence Wealth Services Inc. acquired a new position in Moody’s in the 4th quarter worth $45,000. Prospera Financial Services Inc acquired a new position in Moody’s in the 1st quarter worth $45,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Moody’s in the 4th quarter worth $51,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Moody’s Stock Down 0.7 %

Moody’s stock opened at $311.07 on Friday. The stock has a market cap of $57.08 billion, a P/E ratio of 33.59, a P/E/G ratio of 3.00 and a beta of 1.20. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.89. Moody’s Co. has a twelve month low of $251.01 and a twelve month high of $407.94. The company’s 50-day moving average price is $283.14 and its two-hundred day moving average price is $308.68.

Moody’s (NYSE:MCOGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The business services provider reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Moody’s had a net margin of 28.92% and a return on equity of 71.12%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.22 earnings per share. As a group, analysts expect that Moody’s Co. will post 9.48 EPS for the current year.

Moody’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 19th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.90%. Moody’s’s payout ratio is presently 30.24%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCO. UBS Group reduced their target price on shares of Moody’s from $308.00 to $288.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Raymond James reduced their target price on shares of Moody’s from $364.00 to $327.00 and set an “outperform” rating for the company in a research note on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Moody’s from $372.00 to $324.00 in a research note on Thursday, June 2nd. Royal Bank of Canada reduced their price objective on shares of Moody’s from $344.00 to $329.00 in a research note on Tuesday, June 7th. Finally, Robert W. Baird reduced their price objective on shares of Moody’s from $363.00 to $342.00 in a research note on Tuesday, May 3rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $329.25.

Insiders Place Their Bets

In other Moody’s news, insider Michael L. West sold 780 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total transaction of $242,213.40. Following the transaction, the insider now owns 8,330 shares in the company, valued at approximately $2,586,714.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Moody’s news, insider Michael L. West sold 780 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total transaction of $242,213.40. Following the transaction, the insider now owns 8,330 shares in the company, valued at approximately $2,586,714.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Caroline Sullivan sold 326 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $310.68, for a total transaction of $101,281.68. Following the transaction, the senior vice president now owns 1,806 shares in the company, valued at approximately $561,088.08. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Moody’s Profile

(Get Rating)

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as and structured finance securities.

Further Reading

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Institutional Ownership by Quarter for Moody's (NYSE:MCO)

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