Oppenheimer & Co. Inc. acquired a new stake in Moody's Co. (NYSE:MCO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,661 shares of the business services provider’s stock, valued at approximately $231,000.
Several other hedge funds have also made changes to their positions in the company. Norinchukin Bank The grew its holdings in shares of Moody's by 12.5% in the 3rd quarter. Norinchukin Bank The now owns 7,395 shares of the business services provider’s stock worth $1,029,000 after purchasing an additional 824 shares during the last quarter. ING Groep NV bought a new stake in shares of Moody's in the 3rd quarter worth about $746,000. D.A. Davidson & CO. grew its holdings in shares of Moody's by 6.1% in the 3rd quarter. D.A. Davidson & CO. now owns 42,461 shares of the business services provider’s stock worth $5,910,000 after purchasing an additional 2,459 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Moody's by 3.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,297 shares of the business services provider’s stock worth $4,357,000 after purchasing an additional 944 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Moody's by 10.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,169 shares of the business services provider’s stock worth $580,000 after acquiring an additional 390 shares during the last quarter. Institutional investors own 87.49% of the company’s stock.
MCO has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Moody's from a “hold” rating to a “buy” rating and set a $148.00 price objective on the stock in a report on Thursday, August 17th. Argus increased their price objective on shares of Moody's to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Barclays increased their price objective on shares of Moody's from $135.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, September 15th. Morgan Stanley reissued an “equal weight” rating and set a $135.00 price objective (up previously from $134.00) on shares of Moody's in a report on Friday, October 6th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $148.00 price objective on shares of Moody's in a report on Monday, November 6th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Moody's currently has a consensus rating of “Buy” and an average price target of $151.89.
Moody's (NYSE:MCO) last issued its earnings results on Friday, November 3rd. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $992.81 million. Moody's had a net margin of 13.73% and a negative return on equity of 187.20%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 EPS. equities research analysts expect that Moody's Co. will post 5.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Monday, November 20th. Moody's’s dividend payout ratio (DPR) is presently 54.29%.
In related news, insider Raymond W. Mcdaniel sold 45,216 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $134.16, for a total value of $6,066,178.56. Following the sale, the insider now directly owns 292,310 shares in the company, valued at approximately $39,216,309.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Darrell Duffie sold 500 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $138.41, for a total transaction of $69,205.00. Following the completion of the sale, the director now owns 21,804 shares in the company, valued at $3,017,891.64. The disclosure for this sale can be found here. Insiders sold a total of 49,716 shares of company stock worth $6,703,384 in the last ninety days. Insiders own 1.17% of the company’s stock.
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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