Moody’s Co. (NYSE:MCO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Moody’s Co. (NYSE:MCOGet Rating) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,070 shares of the business services provider’s stock after selling 1,590 shares during the quarter. State of Alaska Department of Revenue’s holdings in Moody’s were worth $6,274,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MCO. Aaron Wealth Advisors LLC boosted its holdings in shares of Moody’s by 33,257.5% during the 1st quarter. Aaron Wealth Advisors LLC now owns 205,482 shares of the business services provider’s stock worth $609,000 after purchasing an additional 204,866 shares during the last quarter. Calamos Wealth Management LLC lifted its position in Moody’s by 6.8% during the first quarter. Calamos Wealth Management LLC now owns 819 shares of the business services provider’s stock worth $276,000 after buying an additional 52 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Moody’s by 31.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,077 shares of the business services provider’s stock worth $9,473,000 after buying an additional 6,791 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Moody’s by 9.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,492 shares of the business services provider’s stock valued at $1,178,000 after buying an additional 308 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Moody’s by 53.1% in the 1st quarter. First Horizon Advisors Inc. now owns 349 shares of the business services provider’s stock valued at $118,000 after buying an additional 121 shares in the last quarter. 91.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Moody’s

In other news, insider Michael L. West sold 780 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Moody’s news, SVP Caroline Sullivan sold 326 shares of the business’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 completion of the transaction, the senior vice president now owns 1,806 shares in the company, valued at approximately $561,088.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael L. West sold 780 shares of the 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 completion of the sale, the insider now directly owns 8,330 shares in the company, 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.

Moody’s Trading Down 0.6 %

MCO opened at $278.51 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.89. The firm has a market cap of $51.11 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.69 and a beta of 1.21. Moody’s Co. has a 52 week low of $251.01 and a 52 week high of $407.94. The business has a fifty day simple moving average of $298.05 and a 200-day simple moving average of $301.57.

Moody’s (NYSE:MCOGet Rating) last released its earnings results on Tuesday, July 26th. The business services provider reported $2.22 earnings per share 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%. The business’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.22 earnings per share. On average, equities analysts expect that Moody’s Co. will post 9.47 earnings per share for the current year.

Moody’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were issued 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 1.01%. Moody’s’s dividend payout ratio (DPR) is presently 30.24%.

Analysts Set New Price Targets

MCO has been the topic of several analyst reports. BMO Capital Markets boosted 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. Morgan Stanley decreased their target price on shares of Moody’s from $298.00 to $283.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 27th. Royal Bank of Canada cut their price target on shares of Moody’s from $344.00 to $329.00 in a report on Tuesday, June 7th. Deutsche Bank Aktiengesellschaft cut Moody’s from a “buy” rating to a “hold” rating and set a $324.00 price objective on the stock. in a report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Oppenheimer raised their target price on Moody’s from $313.00 to $348.00 and gave the stock an “outperform” rating in a research note on Friday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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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