Bank of New York Mellon Corp decreased its position in shares of Moody's Co. (NYSE:MCO) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,530,545 shares of the business services provider’s stock after selling 20,880 shares during the period. Bank of New York Mellon Corp owned approximately 0.80% of Moody's worth $213,067,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Massey Quick Simon & CO. LLC purchased a new stake in shares of Moody's during the third quarter valued at $336,000. Teacher Retirement System of Texas boosted its stake in shares of Moody's by 186.4% during the third quarter. Teacher Retirement System of Texas now owns 13,293 shares of the business services provider’s stock valued at $1,851,000 after purchasing an additional 8,652 shares during the period. Advisor Group Inc. boosted its stake in shares of Moody's by 32.0% during the third quarter. Advisor Group Inc. now owns 12,506 shares of the business services provider’s stock valued at $1,741,000 after purchasing an additional 3,035 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Moody's by 11.9% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,573 shares of the business services provider’s stock valued at $2,307,000 after purchasing an additional 1,758 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Moody's by 12.1% during the third quarter. Toronto Dominion Bank now owns 63,286 shares of the business services provider’s stock valued at $8,809,000 after purchasing an additional 6,840 shares during the period. Institutional investors and hedge funds own 87.49% of the company’s stock.
In other news, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $138.41, for a total transaction of $69,205.00. Following the transaction, the director now owns 21,804 shares in the company, valued at $3,017,891.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the transaction, 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. In the last 90 days, insiders have sold 49,716 shares of company stock worth $6,703,384. Corporate insiders own 1.17% of the company’s stock.
Moody's Co. (MCO) traded up $0.45 during mid-day trading on Monday, hitting $151.75. 740,233 shares of the company’s stock traded hands, compared to its average volume of 840,267. The stock has a market capitalization of $28,900.00, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 2.68 and a beta of 1.36. Moody's Co. has a 1-year low of $93.51 and a 1-year high of $153.86. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of -32.57.
Moody's (NYSE:MCO) last released its quarterly earnings results on Friday, November 3rd. The business services provider reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.15. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $992.81 million. Moody's had a net margin of 13.73% and a negative return on equity of 187.20%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 earnings per share. sell-side analysts expect that Moody's Co. will post 5.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, November 20th. Moody's’s payout ratio is 54.68%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Moody's from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Cantor Fitzgerald reissued a “hold” rating and set a $148.00 target price on shares of Moody's in a research note on Wednesday, November 29th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $149.00 price objective (up from $140.00) on shares of Moody's in a research note on Wednesday, October 4th. UBS upped their price objective on shares of Moody's from $138.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, August 18th. Finally, Barclays raised shares of Moody's from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $150.00 to $165.00 in a research note on Friday, November 17th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $151.89.
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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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