Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Moody’s Co. (NYSE:MCO) by 34.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Empire Life Investments Inc. increased its position in Moody’s by 2.0% during the 4th quarter. Empire Life Investments Inc. now owns 33,340 shares of the business services provider’s stock worth $4,921,000 after purchasing an additional 667 shares in the last quarter. Two Sigma Advisers LP increased its position in Moody’s by 2.5% in the 4th quarter. Two Sigma Advisers LP now owns 21,755 shares of the business services provider’s stock valued at $3,211,000 after acquiring an additional 538 shares during the period. Kendall Capital Management acquired a new position in Moody’s in the 4th quarter valued at approximately $417,000. Guggenheim Capital LLC increased its position in Moody’s by 49.6% in the 4th quarter. Guggenheim Capital LLC now owns 456,306 shares of the business services provider’s stock valued at $67,356,000 after acquiring an additional 151,238 shares during the period. Finally, Deutsche Bank AG increased its position in Moody’s by 1.3% in 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 acquiring an additional 25,570 shares during the period. Institutional investors and hedge funds own 88.50% of the company’s stock.
Several equities analysts have issued reports on MCO shares. Stifel Nicolaus started coverage on shares of Moody’s in a research report on Tuesday, December 19th. They issued a “hold” rating and a $167.00 price target for the company. Nomura started coverage on shares of Moody’s in a research report on Thursday, January 11th. They issued a “buy” rating and a $180.00 price target for the company. Wells Fargo set a $160.00 price target on shares of Moody’s and gave the company a “market perform” rating in a research report on Monday, February 12th. 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. Finally, Barclays upped their price target on shares of Moody’s from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Moody’s currently has an average rating of “Hold” and a consensus target price of $163.50.
In related news, Director Darrell Duffie sold 500 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $160.96, for a total transaction of $80,480.00. Following the transaction, the director now directly owns 21,944 shares of the company’s stock, valued at $3,532,106.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael S. Crimmins sold 300 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $166.04, for a total transaction of $49,812.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,182 shares of company stock worth $5,721,231. 1.00% of the stock is owned by insiders.
Shares of NYSE:MCO traded down $3.24 during trading on Friday, reaching $158.99. The stock had a trading volume of 684,186 shares, compared to its average volume of 670,770. The company has a debt-to-equity ratio of -44.48, a quick ratio of 1.25 and a current ratio of 1.25. Moody’s Co. has a 52 week low of $111.94 and a 52 week high of $171.68. The firm has a market cap of $30,382.99, a P/E ratio of 26.19, a P/E/G ratio of 1.80 and a beta of 1.26.
Moody’s (NYSE:MCO) last posted its quarterly earnings data on Friday, February 9th. The business services provider reported $1.51 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.06. Moody’s had a net margin of 23.80% and a negative return on equity of 319.45%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $1.23 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis. sell-side analysts anticipate that Moody’s Co. will post 7.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th were paid a $0.44 dividend. This is a positive change from Moody’s’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, February 16th. Moody’s’s dividend payout ratio is currently 29.00%.
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Moody's Corporation provides credit ratings; and credit, capital markets, and economic related research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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