Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Moody's Co. (NYSE:MCO) by 34.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,911 shares of the business services provider’s stock after selling 13,382 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Moody's were worth $3,677,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Moody's by 2.2% during the 4th quarter. BlackRock Inc. now owns 10,557,911 shares of the business services provider’s stock valued at $1,558,454,000 after purchasing an additional 228,277 shares during the last quarter. Capital International Investors increased its position in shares of Moody's by 1.0% during the 3rd quarter. Capital International Investors now owns 3,287,478 shares of the business services provider’s stock valued at $457,650,000 after purchasing an additional 31,978 shares during the last quarter. Deutsche Bank AG increased its position in shares of Moody's by 1.3% during the 4th quarter. Deutsche Bank AG now owns 2,029,070 shares of the business services provider’s stock valued at $299,502,000 after purchasing an additional 25,570 shares during the last quarter. Investec Asset Management LTD increased its position in shares of Moody's by 2.8% during the 3rd quarter. Investec Asset Management LTD now owns 1,994,294 shares of the business services provider’s stock valued at $277,626,000 after purchasing an additional 55,053 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Moody's by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 1,752,813 shares of the business services provider’s stock valued at $258,187,000 after purchasing an additional 96,273 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.
In other Moody's news, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $147.93, for a total value of $73,965.00. Following the completion of the transaction, the director now directly owns 21,336 shares in the company, valued at approximately $3,156,234.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Fauber sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $168.00, for a total value of $588,000.00. The disclosure for this sale can be found here. Insiders sold a total of 35,682 shares of company stock valued at $5,788,681 over the last 90 days. 1.17% of the stock is currently owned by corporate insiders.
Shares of Moody's Co. (NYSE:MCO) opened at $167.30 on Friday. The stock has a market cap of $31,814.33, a P/E ratio of 27.70, a P/E/G ratio of 1.97 and a beta of 1.29. Moody's Co. has a fifty-two week low of $110.11 and a fifty-two week high of $171.68. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of -44.48.
Moody's (NYSE:MCO) last released its earnings results on Friday, February 9th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.06. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. Moody's had a net margin of 23.80% and a negative return on equity of 319.45%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. analysts predict that Moody's Co. will post 7.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.05%. This is an increase from Moody's’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 16th. Moody's’s dividend payout ratio is presently 34.17%.
Several research firms have recently commented on MCO. Argus upped their price target on shares of Moody's to $190.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. They noted that the move was a valuation call. Barclays increased their target price on shares of Moody's from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Cantor Fitzgerald increased their target price on shares of Moody's from $148.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Nomura began coverage on shares of Moody's in a report on Thursday, January 11th. They issued a “buy” rating and a $180.00 target price for the company. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $187.00 target price (up from $161.00) on shares of Moody's in a report on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Moody's currently has an average rating of “Hold” and an average price target of $163.50.
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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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