Mirae Asset Global Investments Co. Ltd. Acquires 6,791 Shares of Moody’s Co. (NYSE:MCO)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Moody’s Co. (NYSE:MCOGet Rating) by 31.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,077 shares of the business services provider’s stock after purchasing an additional 6,791 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Moody’s were worth $9,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank lifted its stake in Moody’s by 177.1% in the first quarter. American National Bank now owns 97 shares of the business services provider’s stock valued at $33,000 after buying an additional 62 shares in the last quarter. City State Bank acquired a new position in shares of Moody’s in the fourth quarter valued at $35,000. Tcwp LLC acquired a new position in shares of Moody’s in the first quarter valued at $38,000. Prospera Financial Services Inc acquired a new position in shares of Moody’s in the first quarter valued at $45,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Moody’s in the fourth quarter valued at about $51,000. Institutional investors own 91.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MCO shares. Morgan Stanley cut their price objective 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. Deutsche Bank Aktiengesellschaft downgraded Moody’s from a “buy” rating to a “hold” rating and set a $324.00 price objective for the company. in a research note on Wednesday, August 10th. They noted that the move was a valuation call. UBS Group decreased their target price 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. Raymond James decreased 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 report on Tuesday, July 12th. Finally, Royal Bank of Canada cut their price target on Moody’s from $344.00 to $329.00 in a report on Tuesday, June 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $325.92.

Moody’s Trading Down 2.8 %

Shares of MCO opened at $270.81 on Wednesday. The business has a 50-day moving average of $297.95 and a 200 day moving average of $301.24. Moody’s Co. has a fifty-two week low of $251.01 and a fifty-two week high of $407.94. The firm has a market cap of $49.69 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 2.69 and a beta of 1.21. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.39 and a current ratio of 1.39.

Moody’s (NYSE:MCOGet Rating) last announced its quarterly earnings data 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). Moody’s had a return on equity of 71.12% and a net margin of 28.92%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business posted $3.22 EPS. The company’s revenue was down 11.1% compared to the same quarter last year. As a group, research analysts forecast that Moody’s Co. will post 9.47 EPS for the current year.

Moody’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.70 dividend. The ex-dividend date was Thursday, August 18th. This represents a $2.80 annualized dividend and a yield of 1.03%. Moody’s’s dividend payout ratio is currently 30.24%.

Insiders Place Their Bets

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

About Moody’s

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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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