The Manufacturers Life Insurance Company trimmed its holdings in Moody’s Co. (NYSE:MCO) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 869,701 shares of the business services provider’s stock after selling 91,100 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.45% of Moody’s worth $140,283,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in MCO. NuWave Investment Management LLC grew its stake in Moody’s by 327.3% in the 1st quarter. NuWave Investment Management LLC now owns 641 shares of the business services provider’s stock valued at $102,000 after buying an additional 491 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Moody’s by 2,358.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 713 shares of the business services provider’s stock valued at $105,000 after buying an additional 684 shares in the last quarter. Truewealth LLC purchased a new position in Moody’s in the 4th quarter valued at approximately $105,000. Delpha Capital Management LLC purchased a new position in Moody’s in the 4th quarter valued at approximately $117,000. Finally, Synovus Financial Corp purchased a new position in Moody’s in the 1st quarter valued at approximately $129,000. Institutional investors and hedge funds own 88.16% of the company’s stock.
In other news, EVP John J. Goggins sold 26,255 shares of Moody’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $172.32, for a total transaction of $4,524,261.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John J. Goggins sold 26,254 shares of Moody’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $172.55, for a total transaction of $4,530,127.70. Following the sale, the executive vice president now directly owns 86,173 shares of the company’s stock, valued at $14,869,151.15. The disclosure for this sale can be found here. Insiders have sold a total of 114,086 shares of company stock valued at $19,107,870 over the last 90 days. Company insiders own 1.00% of the company’s stock.
Moody’s (NYSE:MCO) last released its quarterly earnings results on Friday, April 27th. The business services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.22. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Moody’s had a net margin of 23.60% and a negative return on equity of 1,599.12%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 EPS. sell-side analysts forecast that Moody’s Co. will post 7.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 11th. Stockholders of record on Monday, May 21st were given a dividend of $0.44 per share. The ex-dividend date was Friday, May 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.99%. Moody’s’s dividend payout ratio (DPR) is currently 29.00%.
A number of research firms recently weighed in on MCO. BMO Capital Markets lifted their price objective on shares of Moody’s to $179.00 and gave the company a “market perform” rating in a research note on Wednesday, May 30th. ValuEngine upgraded shares of Moody’s from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of Moody’s from a “buy” rating to a “hold” rating in a research note on Friday, April 20th. Morgan Stanley lifted their price objective on shares of Moody’s from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, April 30th. Finally, TheStreet upgraded shares of Moody’s from a “c+” rating to a “b” rating in a research note on Wednesday, May 2nd. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $172.08.
Moody’s Company Profile
Moody's Corporation provides credit ratings; and credit, capital markets, and economic related 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 comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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