Arizona State Retirement System Increases Stake in Moody’s Co. (MCO)

Arizona State Retirement System lifted its holdings in shares of Moody’s Co. (NYSE:MCO) by 1.1% during the third quarter, Holdings Channel reports. The fund owned 51,937 shares of the business services provider’s stock after purchasing an additional 560 shares during the quarter. Arizona State Retirement System’s holdings in Moody’s were worth $8,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Moody’s during the second quarter worth $140,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Moody’s during the third quarter worth $192,000. United Asset Strategies Inc. acquired a new stake in shares of Moody’s during the second quarter worth $201,000. FineMark National Bank & Trust acquired a new stake in shares of Moody’s during the second quarter worth $205,000. Finally, Aldebaran Financial Inc. acquired a new stake in shares of Moody’s during the second quarter worth $205,000. 88.01% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the company. ValuEngine downgraded Moody’s from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Nomura reaffirmed a “buy” rating and set a $193.00 price target on shares of Moody’s in a report on Monday, July 30th. Zacks Investment Research downgraded Moody’s from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Stifel Nicolaus increased their price target on Moody’s from $170.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, July 30th. Finally, Morgan Stanley increased their price target on Moody’s from $176.00 to $179.00 and gave the stock a “$184.49” rating in a report on Wednesday, July 18th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Moody’s presently has an average rating of “Hold” and a consensus target price of $178.45.

Moody’s stock opened at $149.46 on Friday. Moody’s Co. has a one year low of $139.11 and a one year high of $187.98. The company has a debt-to-equity ratio of 7.40, a current ratio of 1.38 and a quick ratio of 1.54. The firm has a market capitalization of $28.64 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.21.

Moody’s (NYSE:MCO) last released its earnings results on Friday, October 26th. The business services provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.09). Moody’s had a net margin of 23.85% and a return on equity of 412.48%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business posted $1.52 EPS. Moody’s’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Moody’s Co. will post 7.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, November 20th. Moody’s’s dividend payout ratio (DPR) is currently 29.00%.

In other Moody’s news, CFO Linda Huber bought 915 shares of Moody’s stock in a transaction on Monday, August 6th. The stock was bought at an average price of $172.31 per share, with a total value of $157,663.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Moody’s Company Profile

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

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