Verity Asset Management Inc. Invests $115,000 in Moody’s Co. (NYSE:MCO)

Verity Asset Management Inc. purchased a new position in Moody’s Co. (NYSE:MCOGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 106,998 shares of the business services provider’s stock, valued at approximately $115,000. Verity Asset Management Inc. owned about 0.06% of Moody’s at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Moody’s by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 13,611,470 shares of the business services provider’s stock valued at $4,592,646,000 after purchasing an additional 90,333 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Moody’s by 4.7% during the 1st quarter. BlackRock Inc. now owns 12,374,168 shares of the business services provider’s stock valued at $4,175,168,000 after purchasing an additional 555,419 shares during the last quarter. State Street Corp grew its holdings in shares of Moody’s by 3.1% during the 4th quarter. State Street Corp now owns 7,416,456 shares of the business services provider’s stock valued at $2,896,719,000 after purchasing an additional 222,009 shares during the last quarter. TCI Fund Management Ltd. grew its holdings in shares of Moody’s by 11.0% during the 1st quarter. TCI Fund Management Ltd. now owns 7,285,832 shares of the business services provider’s stock valued at $2,458,313,000 after purchasing an additional 723,042 shares during the last quarter. Finally, Akre Capital Management LLC grew its holdings in shares of Moody’s by 0.7% during the 1st quarter. Akre Capital Management LLC now owns 5,659,712 shares of the business services provider’s stock valued at $1,909,643,000 after purchasing an additional 38,615 shares during the last quarter. Institutional investors own 91.73% of the company’s stock.

Insider Activity at Moody’s

In other Moody’s news, insider Michael L. West sold 780 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total transaction of $242,213.40. Following the completion of the sale, the insider now directly owns 8,330 shares in the company, valued at approximately $2,586,714.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Moody’s news, SVP Caroline Sullivan sold 326 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $310.68, for a total transaction of $101,281.68. Following the completion of the sale, the senior vice president now directly owns 1,806 shares in the company, valued at approximately $561,088.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael L. West sold 780 shares of the firm’s stock in a transaction dated 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 owns 8,330 shares of the company’s stock, valued at $2,586,714.90. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCO. Barclays lowered shares of Moody’s from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $350.00 to $285.00 in a report on Friday, June 3rd. Oppenheimer increased their price target 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. Deutsche Bank Aktiengesellschaft cut shares of Moody’s from a “buy” rating to a “hold” rating and set a $324.00 price target for the company. in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Morgan Stanley dropped their price target on shares of Moody’s from $298.00 to $283.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 27th. Finally, BMO Capital Markets increased their price target on shares of Moody’s from $309.00 to $352.00 and gave the company an “outperform” rating in a research report on Monday, August 15th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Moody’s has an average rating of “Moderate Buy” and a consensus price target of $325.92.

Moody’s Trading Down 1.4 %

NYSE:MCO opened at $282.31 on Friday. Moody’s Co. has a 12 month low of $251.01 and a 12 month high of $407.94. The stock has a market cap of $51.80 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 2.79 and a beta of 1.21. The company has a 50-day moving average price of $298.18 and a 200-day moving average price of $302.47. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.89.

Moody’s (NYSE:MCOGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The business services provider reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Moody’s had a net margin of 28.92% and a return on equity of 71.12%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $3.22 earnings per share. The company’s revenue was down 11.1% on a year-over-year basis. Equities analysts predict that Moody’s Co. will post 9.47 EPS for the current year.

Moody’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $2.80 dividend on an annualized basis and a yield of 0.99%. Moody’s’s dividend payout ratio (DPR) is currently 30.24%.

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.

Further Reading

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

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