Allstate Corp Sells 30 Shares of Moody’s Co. (NYSE:MCO)

Allstate Corp decreased its holdings in Moody’s Co. (NYSE:MCO) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 797 shares of the business services provider’s stock after selling 30 shares during the quarter. Allstate Corp’s holdings in Moody’s were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Moody’s during the third quarter valued at $35,000. Raleigh Capital Management Inc. increased its holdings in shares of Moody’s by 87.7% during the third quarter. Raleigh Capital Management Inc. now owns 122 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 57 shares in the last quarter. Advantage Trust Co bought a new position in shares of Moody’s during the fourth quarter valued at $52,000. Milestone Investment Advisors LLC bought a new position in shares of Moody’s during the third quarter valued at $52,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Moody’s during the fourth quarter valued at $64,000. Hedge funds and other institutional investors own 92.11% of the company’s stock.

Moody’s Price Performance

Shares of MCO traded up $4.31 during mid-day trading on Friday, hitting $411.33. 149,498 shares of the stock were exchanged, compared to its average volume of 718,183. Moody’s Co. has a 52-week low of $298.86 and a 52-week high of $417.75. The company has a market cap of $75.11 billion, a PE ratio of 44.43, a price-to-earnings-growth ratio of 3.32 and a beta of 1.26. The firm has a 50-day moving average of $389.67 and a two-hundred day moving average of $382.12. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.42 and a current ratio of 1.42.

Moody’s (NYSE:MCO) last issued its earnings results on Thursday, May 2nd. The business services provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.31. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Moody’s had a return on equity of 54.50% and a net margin of 27.01%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.99 EPS. On average, equities analysts predict that Moody’s Co. will post 10.69 earnings per share for the current year.

Moody’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, May 16th. Moody’s’s dividend payout ratio (DPR) is currently 37.12%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCO. Royal Bank of Canada reiterated an “outperform” rating and issued a $450.00 price objective on shares of Moody’s in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut their price target on Moody’s from $420.00 to $410.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Stifel Nicolaus lifted their price objective on Moody’s from $350.00 to $374.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. BMO Capital Markets lowered their price objective on Moody’s from $430.00 to $414.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Finally, StockNews.com raised Moody’s from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $400.50.

About Moody’s

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.