Massachusetts Financial Services Co. MA trimmed its position in Moody’s Co. (NYSE:MCO) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,506,673 shares of the business services provider’s stock after selling 351,725 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Moody’s were worth $923,101,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of MCO. Nuveen Asset Management LLC raised its holdings in shares of Moody’s by 985.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 770,226 shares of the business services provider’s stock valued at $150,433,000 after purchasing an additional 699,273 shares during the period. Morgan Stanley grew its stake in Moody’s by 14.9% in the 2nd quarter. Morgan Stanley now owns 2,115,215 shares of the business services provider’s stock valued at $413,121,000 after buying an additional 274,515 shares during the last quarter. Paloma Partners Management Co grew its stake in Moody’s by 1,257.4% in the 2nd quarter. Paloma Partners Management Co now owns 164,235 shares of the business services provider’s stock valued at $32,077,000 after buying an additional 152,136 shares during the last quarter. Windacre Partnership LLC grew its stake in Moody’s by 10.1% in the 2nd quarter. Windacre Partnership LLC now owns 1,642,000 shares of the business services provider’s stock valued at $320,699,000 after buying an additional 150,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Moody’s in the 3rd quarter valued at about $29,697,000. 90.27% of the stock is currently owned by institutional investors.
In other Moody’s news, insider Mark Almeida sold 27,236 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.06, for a total transaction of $5,639,486.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.
A number of research analysts recently commented on the stock. Barclays reiterated a “buy” rating on shares of Moody’s in a research note on Sunday, August 4th. ValuEngine lowered shares of Moody’s from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Argus upped their price target on shares of Moody’s to $240.00 and gave the company a “buy” rating in a research note on Monday, August 5th. UBS Group upped their price target on shares of Moody’s from $245.00 to $257.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $208.91.
Shares of NYSE:MCO traded down $0.08 on Monday, reaching $218.05. 439,988 shares of the company’s stock were exchanged, compared to its average volume of 864,585. The company has a fifty day moving average of $212.98 and a 200-day moving average of $203.72. Moody’s Co. has a twelve month low of $129.26 and a twelve month high of $223.82. The company has a market capitalization of $40.23 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.61 and a beta of 1.24. The company has a current ratio of 1.42, a quick ratio of 1.71 and a debt-to-equity ratio of 7.50.
Moody’s (NYSE:MCO) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.16. Moody’s had a net margin of 28.20% and a return on equity of 270.17%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business posted $1.69 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that Moody’s Co. will post 8.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.92%. Moody’s’s payout ratio is presently 27.06%.
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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