Coronation Fund Managers Ltd. acquired a new position in shares of Moody’s Co. (NYSE:MCO – Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,874 shares of the business services provider’s stock, valued at approximately $2,893,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Moody’s by 0.8% during the first quarter. Vanguard Group Inc. now owns 14,283,558 shares of the business services provider’s stock valued at $5,613,867,000 after acquiring an additional 119,450 shares during the last quarter. TCI Fund Management Ltd. increased its position in Moody’s by 16.2% during the 4th quarter. TCI Fund Management Ltd. now owns 12,049,611 shares of the business services provider’s stock valued at $4,706,096,000 after buying an additional 1,678,594 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Moody’s by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 2,692,411 shares of the business services provider’s stock valued at $1,058,198,000 after buying an additional 126,088 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in Moody’s by 133.9% in the second quarter. PineStone Asset Management Inc. now owns 2,277,056 shares of the business services provider’s stock worth $958,481,000 after acquiring an additional 1,303,434 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Moody’s during the fourth quarter worth about $720,502,000. Hedge funds and other institutional investors own 92.11% of the company’s stock.
Insider Activity
In related news, insider Stephen T. Tulenko sold 569 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $444.26, for a total value of $252,783.94. Following the sale, the insider now directly owns 8,147 shares in the company, valued at approximately $3,619,386.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Stephen T. Tulenko sold 500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $464.06, for a total transaction of $232,030.00. Following the sale, the insider now owns 6,647 shares of the company’s stock, valued at $3,084,606.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen T. Tulenko sold 569 shares of Moody’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $444.26, for a total transaction of $252,783.94. Following the completion of the transaction, the insider now owns 8,147 shares of the company’s stock, valued at approximately $3,619,386.22. The disclosure for this sale can be found here. Insiders sold a total of 2,931 shares of company stock valued at $1,332,825 in the last 90 days. Company insiders own 0.07% of the company’s stock.
Moody’s Price Performance
Moody’s (NYSE:MCO – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The business services provider reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.22. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. Moody’s had a return on equity of 57.03% and a net margin of 28.34%. The firm’s revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.30 earnings per share. As a group, analysts anticipate that Moody’s Co. will post 11.34 EPS for the current year.
Moody’s Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, August 16th. Moody’s’s dividend payout ratio (DPR) is presently 37.12%.
Wall Street Analyst Weigh In
MCO has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Moody’s from $374.00 to $392.00 and gave the stock an “equal weight” rating in a research report on Friday, July 5th. BMO Capital Markets lowered Moody’s from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $482.00 to $455.00 in a research note on Wednesday, July 24th. Wells Fargo & Company upgraded Moody’s to a “strong-buy” rating in a research note on Tuesday. Barclays boosted their price target on shares of Moody’s from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Moody’s from a “buy” rating to a “hold” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $456.00.
Read Our Latest Stock Analysis on Moody’s
Moody’s Company Profile
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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