M&T Bank Corp grew its stake in Moody’s Co. (NYSE:MCO) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,331 shares of the business services provider’s stock after buying an additional 341 shares during the quarter. M&T Bank Corp’s holdings in Moody’s were worth $6,959,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Fred Alger Management LLC acquired a new position in shares of Moody’s in the first quarter valued at approximately $26,000. Jacobi Capital Management LLC boosted its holdings in shares of Moody’s by 941.7% in the second quarter. Jacobi Capital Management LLC now owns 1,000 shares of the business services provider’s stock valued at $26,000 after buying an additional 904 shares during the period. Allred Capital Management LLC boosted its holdings in shares of Moody’s by 42.4% in the first quarter. Allred Capital Management LLC now owns 141 shares of the business services provider’s stock valued at $30,000 after buying an additional 42 shares during the period. MBE Wealth Management LLC acquired a new position in shares of Moody’s in the first quarter valued at approximately $44,000. Finally, EPG Wealth Management LLC boosted its holdings in shares of Moody’s by 132.4% in the first quarter. EPG Wealth Management LLC now owns 244 shares of the business services provider’s stock valued at $52,000 after buying an additional 139 shares during the period. Institutional investors own 90.27% of the company’s stock.
Several research analysts have recently weighed in on MCO shares. Morgan Stanley reduced their price target on shares of Moody’s from $278.00 to $275.00 and set an “equal weight” rating for the company in a report on Friday. Zacks Investment Research raised shares of Moody’s from a “hold” rating to a “buy” rating and set a $298.00 price objective on the stock in a research report on Tuesday, July 7th. Goldman Sachs Group boosted their price objective on shares of Moody’s from $258.00 to $295.00 in a research report on Wednesday, July 8th. BMO Capital Markets boosted their price objective on shares of Moody’s from $285.00 to $298.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, UBS Group boosted their price objective on shares of Moody’s from $344.00 to $358.00 and gave the stock a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Moody’s currently has a consensus rating of “Buy” and an average target price of $290.75.
NYSE MCO opened at $281.30 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.70 and a debt-to-equity ratio of 9.17. The firm’s fifty day moving average price is $281.46 and its two-hundred day moving average price is $255.09. Moody’s Co. has a 1 year low of $164.19 and a 1 year high of $296.66. The firm has a market capitalization of $52.74 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 3.14 and a beta of 1.19.
Moody’s (NYSE:MCO) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.55. Moody’s had a net margin of 33.38% and a return on equity of 204.46%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $2.07 earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, research analysts anticipate that Moody’s Co. will post 9.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, August 19th. Moody’s’s dividend payout ratio (DPR) is currently 27.02%.
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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