Moody’s Co. (NYSE:MCO)’s stock price fell 5.4% during mid-day trading on Monday following insider selling activity. The company traded as low as $200.65 and last traded at $202.69, 1,214,422 shares changed hands during mid-day trading. An increase of 33% from the average session volume of 913,149 shares. The stock had previously closed at $214.30.
Specifically, insider Raymond W. Mcdaniel sold 7,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $212.89, for a total value of $1,596,675.00. Following the sale, the insider now directly owns 205,294 shares of the company’s stock, valued at approximately $43,705,039.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Raymond W. Mcdaniel sold 55,421 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $193.11, for a total transaction of $10,702,349.31. Following the completion of the sale, the insider now directly owns 241,024 shares in the company, valued at $46,544,144.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,315 shares of company stock valued at $28,851,352. Company insiders own 0.90% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Moody’s from $189.00 to $194.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Morgan Stanley increased their price target on shares of Moody’s from $150.00 to $164.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. Wells Fargo & Co increased their price target on shares of Moody’s from $170.00 to $195.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Barclays reissued a “buy” rating on shares of Moody’s in a report on Sunday. Finally, UBS Group increased their price target on shares of Moody’s from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $196.30.
The company has a debt-to-equity ratio of 9.38, a quick ratio of 1.45 and a current ratio of 1.71. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 2.08 and a beta of 1.26. The company has a 50-day moving average of $200.29.
Moody’s (NYSE:MCO) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.09. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. Moody’s had a net margin of 27.66% and a return on equity of 266.42%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $2.04 earnings per share. On average, equities analysts expect that Moody’s Co. will post 8.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, August 19th. Moody’s’s dividend payout ratio is currently 27.06%.
Several hedge funds and other institutional investors have recently modified their holdings of MCO. Perigon Wealth Management LLC raised its position in shares of Moody’s by 0.6% in the second quarter. Perigon Wealth Management LLC now owns 24,936 shares of the business services provider’s stock valued at $4,870,000 after purchasing an additional 140 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Moody’s in the second quarter valued at approximately $37,000. K.J. Harrison & Partners Inc bought a new stake in Moody’s during the 2nd quarter worth approximately $1,367,000. Eagle Asset Management Inc. increased its holdings in Moody’s by 7.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 411,267 shares of the business services provider’s stock worth $80,324,000 after acquiring an additional 28,501 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Moody’s by 7.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,397 shares of the business services provider’s stock worth $3,788,000 after acquiring an additional 1,362 shares during the period. Hedge funds and other institutional investors own 92.81% of the company’s stock.
About Moody’s (NYSE:MCO)
Moody's Corporation provides credit ratings; and credit, capital markets, and economic 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, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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