Lord Abbett & CO. LLC boosted its holdings in Moody’s Corporation (NYSE:MCO) by 20.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,852 shares of the business services provider’s stock after buying an additional 14,678 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Moody’s Corporation were worth $10,568,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Moody’s Corporation by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 16,203,350 shares of the business services provider’s stock valued at $1,971,623,000 after acquiring an additional 463,669 shares during the period. BlackRock Inc. grew its stake in shares of Moody’s Corporation by 1.7% during the 2nd quarter. BlackRock Inc. now owns 10,350,596 shares of the business services provider’s stock valued at $1,259,461,000 after acquiring an additional 169,560 shares during the period. Fiera Capital Corp grew its stake in shares of Moody’s Corporation by 17.8% during the 2nd quarter. Fiera Capital Corp now owns 5,793,968 shares of the business services provider’s stock valued at $705,010,000 after acquiring an additional 876,210 shares during the period. Principal Financial Group Inc. boosted its stake in Moody’s Corporation by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 5,094,493 shares of the business services provider’s stock worth $619,897,000 after purchasing an additional 56,460 shares during the period. Finally, Harris Associates L P boosted its stake in Moody’s Corporation by 8.5% in the 2nd quarter. Harris Associates L P now owns 3,670,649 shares of the business services provider’s stock worth $446,645,000 after purchasing an additional 288,906 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.
Shares of Moody’s Corporation (NYSE:MCO) traded down $0.90 during mid-day trading on Friday, reaching $142.19. The company had a trading volume of 546,600 shares, compared to its average volume of 848,072. The company has a debt-to-equity ratio of -36.49, a quick ratio of 3.69 and a current ratio of 1.15. The stock has a market capitalization of $27,344.50, a PE ratio of 24.97, a P/E/G ratio of 2.54 and a beta of 1.35. Moody’s Corporation has a 52 week low of $93.51 and a 52 week high of $148.00.
Moody’s Corporation (NYSE:MCO) last posted its quarterly earnings data on Friday, November 3rd. The business services provider reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.15. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $992.81 million. Moody’s Corporation had a negative return on equity of 187.20% and a net margin of 13.73%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 earnings per share. research analysts anticipate that Moody’s Corporation will post 5.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Monday, November 20th. Moody’s Corporation’s dividend payout ratio (DPR) is currently 54.29%.
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Several research firms have weighed in on MCO. UBS AG upped their price target on Moody’s Corporation from $138.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded Moody’s Corporation from a “sell” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Monday, July 17th. Cantor Fitzgerald restated a “hold” rating and set a $148.00 price target on shares of Moody’s Corporation in a report on Monday, November 6th. BMO Capital Markets restated a “hold” rating and set a $143.00 price target on shares of Moody’s Corporation in a report on Friday, October 13th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $135.00 target price (up previously from $134.00) on shares of Moody’s Corporation in a research note on Friday, October 6th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Moody’s Corporation currently has a consensus rating of “Hold” and an average target price of $150.22.
In other Moody’s Corporation news, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $138.41, for a total transaction of $69,205.00. Following the sale, the director now owns 21,804 shares in the company, valued at approximately $3,017,891.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $134.16, for a total value of $6,066,178.56. Following the sale, the insider now owns 292,310 shares in the company, valued at approximately $39,216,309.60. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.
Moody’s Corporation Profile
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.
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