Lenox Wealth Advisors LLC lowered its stake in shares of Moody’s Co. (NYSE:MCO) by 42.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 685 shares of the business services provider’s stock after selling 500 shares during the period. Lenox Wealth Advisors LLC’s holdings in Moody’s were worth $140,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new position in Moody’s during the second quarter worth about $25,000. Capital Investment Advisory Services LLC lifted its position in Moody’s by 203.6% during the second quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock worth $34,000 after buying an additional 112 shares during the period. Meeder Asset Management Inc. purchased a new position in Moody’s during the second quarter worth about $37,000. Harvest Fund Management Co. Ltd purchased a new position in Moody’s during the second quarter worth about $39,000. Finally, Ibex Wealth Advisors purchased a new position in Moody’s during the second quarter worth about $41,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of Moody’s stock traded up $2.77 during trading hours on Thursday, reaching $199.58. The stock had a trading volume of 21,573 shares, compared to its average volume of 965,039. The firm has a 50 day simple moving average of $213.14 and a two-hundred day simple moving average of $197.97. The firm has a market capitalization of $37.41 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.55 and a beta of 1.24. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 10.04. Moody’s Co. has a 1 year low of $129.26 and a 1 year high of $222.85.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.50 dividend. The ex-dividend date was Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.00%. Moody’s’s dividend payout ratio (DPR) is 27.06%.
In other news, insider Mark Almeida sold 27,236 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.06, for a total value of $5,639,486.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Fauber sold 3,721 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $212.71, for a total value of $791,493.91. Following the completion of the sale, the insider now owns 48,382 shares of the company’s stock, valued at approximately $10,291,335.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,457 shares of company stock worth $8,027,655. Company insiders own 0.90% of the company’s stock.
Several research firms recently weighed in on MCO. UBS Group increased their target price on Moody’s from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Argus increased their target price on Moody’s to $240.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on Moody’s from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Barclays reiterated a “buy” rating on shares of Moody’s in a research report on Sunday, August 4th. Finally, ValuEngine downgraded Moody’s from a “buy” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $201.09.
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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