Amundi Asset Management US Inc. lifted its stake in shares of Moody’s Co. (NYSE:MCO) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 479,268 shares of the business services provider’s stock after purchasing an additional 64,413 shares during the quarter. Amundi Asset Management US Inc.’s holdings in Moody’s were worth $143,115,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Ninety One UK Ltd grew its holdings in shares of Moody’s by 4.4% during the 1st quarter. Ninety One UK Ltd now owns 2,652,460 shares of the business services provider’s stock valued at $792,051,000 after purchasing an additional 112,665 shares during the last quarter. Veritas Asset Management LLP acquired a new stake in Moody’s during the 1st quarter worth approximately $719,086,000. Morgan Stanley boosted its position in Moody’s by 8.5% during the 4th quarter. Morgan Stanley now owns 1,907,586 shares of the business services provider’s stock worth $553,657,000 after buying an additional 148,846 shares during the period. Rothschild & Co Wealth Management UK Ltd boosted its position in Moody’s by 3.4% during the 1st quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,756,001 shares of the business services provider’s stock worth $524,359,000 after buying an additional 58,549 shares during the period. Finally, Viking Global Investors LP boosted its position in Moody’s by 4.3% during the 1st quarter. Viking Global Investors LP now owns 1,716,016 shares of the business services provider’s stock worth $512,420,000 after buying an additional 70,596 shares during the period. 89.69% of the stock is currently owned by institutional investors.
In other Moody’s news, CEO Robert Fauber sold 447 shares of the business’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $362.50, for a total transaction of $162,037.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John J. Goggins sold 4,520 shares of the business’s stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $334.38, for a total transaction of $1,511,397.60. Following the sale, the executive vice president now owns 11,861 shares of the company’s stock, valued at approximately $3,966,081.18. The disclosure for this sale can be found here. Insiders have sold a total of 8,085 shares of company stock valued at $2,690,104 in the last 90 days. 0.50% of the stock is currently owned by company insiders.
Moody’s (NYSE:MCO) last released its quarterly earnings data on Wednesday, April 28th. The business services provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $2.80 by $1.26. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.39 billion. Moody’s had a net margin of 35.66% and a return on equity of 125.60%. Moody’s’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.73 EPS. Equities research analysts anticipate that Moody’s Co. will post 11.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Thursday, May 20th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, May 19th. This represents a $2.48 dividend on an annualized basis and a yield of 0.65%. Moody’s’s dividend payout ratio (DPR) is presently 24.43%.
Several equities research analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Moody’s from $322.00 to $376.00 and gave the stock a “hold” rating in a research report on Tuesday, July 6th. Raymond James lifted their target price on shares of Moody’s from $341.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 7th. Royal Bank of Canada initiated coverage on shares of Moody’s in a research report on Wednesday, July 7th. They set an “outperform” rating and a $409.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Moody’s from $315.00 to $325.00 and gave the stock a “hold” rating in a research report on Thursday, April 29th. Finally, BMO Capital Markets boosted their price target on shares of Moody’s from $312.00 to $348.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 14th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $361.75.
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; and structured finance securities.
Further Reading: Return on Equity (ROE)
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