Sei Investments Co. boosted its stake in shares of Moody's Co. (NYSE:MCO) by 18.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,801 shares of the business services provider’s stock after buying an additional 15,469 shares during the period. Sei Investments Co. owned about 0.05% of Moody's worth $14,585,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meritage Group LP increased its holdings in shares of Moody's by 22.9% in the 3rd quarter. Meritage Group LP now owns 1,209,041 shares of the business services provider’s stock valued at $168,311,000 after purchasing an additional 225,432 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Moody's in the 4th quarter valued at about $28,481,000. JPMorgan Chase & Co. increased its holdings in shares of Moody's by 92.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,870 shares of the business services provider’s stock valued at $34,357,000 after purchasing an additional 119,047 shares during the period. First Trust Advisors LP increased its holdings in shares of Moody's by 262.3% in the 3rd quarter. First Trust Advisors LP now owns 141,419 shares of the business services provider’s stock valued at $19,687,000 after purchasing an additional 102,389 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of Moody's by 740.9% in the 4th quarter. Teacher Retirement System of Texas now owns 111,782 shares of the business services provider’s stock valued at $16,500,000 after purchasing an additional 98,489 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.
A number of equities analysts have recently weighed in on MCO shares. Cantor Fitzgerald reiterated a “hold” rating and issued a $148.00 target price on shares of Moody's in a report on Monday, November 6th. UBS Group upped their target price on Moody's from $142.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Credit Suisse Group upped their target price on Moody's from $137.00 to $161.00 and gave the company a “neutral” rating in a report on Monday, November 6th. BMO Capital Markets upped their target price on Moody's from $143.00 to $146.00 and gave the company a “market perform” rating in a report on Monday, November 6th. Finally, Argus upped their target price on Moody's to $165.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Moody's has an average rating of “Hold” and a consensus price target of $163.50.
Moody's (NYSE:MCO) last announced its quarterly earnings results on Friday, February 9th. The business services provider reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.06. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Moody's had a negative return on equity of 319.45% and a net margin of 23.80%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. research analysts expect that Moody's Co. will post 7.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be paid a $0.44 dividend. This is a boost from Moody's’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 16th. This represents a $1.76 annualized dividend and a dividend yield of 1.05%. Moody's’s payout ratio is presently 34.17%.
In related news, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $147.93, for a total value of $73,965.00. Following the completion of the sale, the director now owns 21,336 shares of the company’s stock, valued at approximately $3,156,234.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders sold 1,005 shares of company stock valued at $148,738. 1.17% of the stock is currently owned by company insiders.
Moody's Company Profile
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.
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