Assenagon Asset Management S.A. Sells 96,449 Shares of Moody’s Co. (NYSE:MCO)

Assenagon Asset Management S.A. decreased its position in Moody’s Co. (NYSE:MCOFree Report) by 74.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,960 shares of the business services provider’s stock after selling 96,449 shares during the period. Assenagon Asset Management S.A.’s holdings in Moody’s were worth $12,873,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First Foundation Advisors boosted its holdings in shares of Moody’s by 3.8% in the second quarter. First Foundation Advisors now owns 825 shares of the business services provider’s stock valued at $287,000 after buying an additional 30 shares during the period. IMS Capital Management boosted its stake in Moody’s by 0.7% in the 2nd quarter. IMS Capital Management now owns 4,310 shares of the business services provider’s stock worth $1,499,000 after purchasing an additional 30 shares during the period. Wealthsource Partners LLC increased its holdings in Moody’s by 0.9% during the 3rd quarter. Wealthsource Partners LLC now owns 3,522 shares of the business services provider’s stock worth $1,114,000 after purchasing an additional 30 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its stake in shares of Moody’s by 2.0% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 1,580 shares of the business services provider’s stock valued at $499,000 after purchasing an additional 31 shares during the period. Finally, American National Bank lifted its holdings in shares of Moody’s by 4.0% in the third quarter. American National Bank now owns 866 shares of the business services provider’s stock valued at $274,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 92.11% of the company’s stock.

Analysts Set New Price Targets

MCO has been the subject of a number of research reports. UBS Group increased their price objective on Moody’s from $355.00 to $380.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. lowered their price objective on shares of Moody’s from $420.00 to $410.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Oppenheimer reduced their target price on shares of Moody’s from $427.00 to $411.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. BMO Capital Markets lowered their price target on shares of Moody’s from $430.00 to $414.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, Robert W. Baird reduced their price objective on shares of Moody’s from $425.00 to $405.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $390.42.

Read Our Latest Report on Moody’s

Moody’s Price Performance

NYSE:MCO opened at $393.03 on Friday. Moody’s Co. has a 12-month low of $290.98 and a 12-month high of $407.62. The firm has a market capitalization of $71.73 billion, a price-to-earnings ratio of 45.02, a P/E/G ratio of 3.12 and a beta of 1.27. The stock’s 50 day moving average price is $387.01 and its two-hundred day moving average price is $362.83. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.01.

Moody’s (NYSE:MCOGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The business services provider reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.14). Moody’s had a net margin of 27.16% and a return on equity of 55.23%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company posted $1.60 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. On average, analysts anticipate that Moody’s Co. will post 10.7 earnings per share for the current year.

Moody’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were issued a dividend of $0.85 per share. This is an increase from Moody’s’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $3.40 annualized dividend and a dividend yield of 0.87%. Moody’s’s payout ratio is presently 38.95%.

Insider Activity at Moody’s

In other Moody’s news, CEO Robert Fauber sold 2,547 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $376.50, for a total transaction of $958,945.50. Following the completion of the sale, the chief executive officer now directly owns 54,099 shares in the company, valued at $20,368,273.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by company insiders.

About Moody’s

(Free Report)

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Analytics and Moody's Investors Services. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.

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

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