Bank of New York Mellon Corp Cuts Position in Moody's Co. (MCO)

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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About Moody's

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.

Institutional Ownership by Quarter for Moody's (NYSE:MCO)

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