Public Employees Retirement Association of Colorado boosted its stake in Moody's Co. (NYSE:MCO) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,320 shares of the business services provider’s stock after buying an additional 1,059 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Moody's were worth $4,918,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of MCO. Grove Bank & Trust lifted its stake in Moody's by 156.7% in the 3rd quarter. Grove Bank & Trust now owns 901 shares of the business services provider’s stock valued at $125,000 after buying an additional 550 shares in the last quarter. Invictus RG purchased a new position in Moody's in the 3rd quarter valued at about $199,000. BTR Capital Management Inc. purchased a new position in Moody's in the 4th quarter valued at about $202,000. IFC Holdings Incorporated FL purchased a new position in Moody's in the 3rd quarter worth approximately $203,000. Finally, Maple Capital Management Inc. purchased a new position in Moody's in the 3rd quarter worth approximately $206,000. 87.16% of the stock is currently owned by hedge funds and other institutional investors.
MCO has been the topic of a number of research reports. Argus raised their target price on shares of Moody's to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Nomura initiated coverage on shares of Moody's in a research note on Thursday, January 11th. They issued a “buy” rating and a $180.00 target price on the stock. BMO Capital Markets reissued a “hold” rating and issued a $161.00 target price on shares of Moody's in a research note on Friday. Cantor Fitzgerald reissued a “hold” rating on shares of Moody's in a research note on Friday. Finally, Stifel Nicolaus initiated coverage on shares of Moody's in a research note on Tuesday, December 19th. They issued a “hold” rating and a $167.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $157.18.
Moody's (NYSE:MCO) last announced its quarterly earnings results on Friday, February 9th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.06. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. Moody's had a net margin of 13.73% and a negative return on equity of 187.20%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 EPS. research analysts forecast that Moody's Co. will post 6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Moody's’s previous quarterly dividend of $0.38. Moody's’s dividend payout ratio (DPR) is currently 54.29%.
In other news, Director Ewald Kist sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $142.00, for a total transaction of $568,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Darrell Duffie sold 500 shares of the firm’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 transaction of $73,965.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,005 shares of company stock valued at $716,738 in the last 90 days. Insiders own 1.17% of the company’s stock.
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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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