The Manufacturers Life Insurance Company Buys 28,739 Shares of Moody’s Co. (NYSE:MCO)

The Manufacturers Life Insurance Company lifted its stake in shares of Moody’s Co. (NYSE:MCOGet Rating) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,743 shares of the business services provider’s stock after acquiring an additional 28,739 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.17% of Moody’s worth $105,185,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. American National Bank increased its position in shares of Moody’s by 177.1% during the first quarter. American National Bank now owns 97 shares of the business services provider’s stock worth $33,000 after acquiring an additional 62 shares in the last quarter. City State Bank bought a new position in Moody’s in the fourth quarter valued at $35,000. Tcwp LLC bought a new position in Moody’s in the first quarter valued at $38,000. EverSource Wealth Advisors LLC bought a new position in Moody’s in the fourth quarter valued at $51,000. Finally, Prospera Financial Services Inc bought a new position in Moody’s in the first quarter valued at $45,000. Institutional investors own 91.73% of the company’s stock.

Insider Activity

In related news, insider Michael L. West sold 780 shares of Moody’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total transaction of $242,213.40. Following the sale, the insider now directly owns 8,330 shares of the company’s stock, valued at approximately $2,586,714.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael L. West sold 780 shares of Moody’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total transaction of $242,213.40. Following the sale, the insider now directly owns 8,330 shares of the company’s stock, valued at approximately $2,586,714.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Caroline Sullivan sold 326 shares of Moody’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $310.68, for a total transaction of $101,281.68. Following the sale, the senior vice president now directly owns 1,806 shares in the company, valued at $561,088.08. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Moody’s Price Performance

Shares of Moody’s stock opened at $282.31 on Friday. The company has a 50-day simple moving average of $298.18 and a two-hundred day simple moving average of $302.47. The stock has a market capitalization of $51.80 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.79 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.89. Moody’s Co. has a twelve month low of $251.01 and a twelve month high of $407.94.

Moody’s (NYSE:MCOGet Rating) last issued its earnings results on Tuesday, July 26th. The business services provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. Moody’s had a net margin of 28.92% and a return on equity of 71.12%. Moody’s’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.22 earnings per share. Analysts forecast that Moody’s Co. will post 9.47 EPS for the current year.

Moody’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, August 18th. Moody’s’s payout ratio is presently 30.24%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCO shares. UBS Group decreased their price objective on shares of Moody’s from $308.00 to $288.00 and set a “neutral” rating for the company in a research report on Monday, June 6th. Oppenheimer lifted their price objective on shares of Moody’s from $313.00 to $348.00 and gave the company an “outperform” rating in a research report on Friday, August 19th. Raymond James cut their target price on shares of Moody’s from $364.00 to $327.00 and set an “outperform” rating for the company in a research note on Tuesday, July 12th. BMO Capital Markets raised their target price on shares of Moody’s from $309.00 to $352.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Finally, Barclays cut shares of Moody’s from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $350.00 to $285.00 in a research note on Friday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $325.92.

Moody’s Profile

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Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as and structured finance securities.

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

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