Westbourne Investment Advisors Inc. decreased its position in Moody’s Co. (NYSE:MCO) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,450 shares of the business services provider’s stock after selling 255 shares during the quarter. Moody’s accounts for approximately 1.0% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 28th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Moody’s were worth $1,321,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MCO. Krane Funds Advisors LLC bought a new stake in Moody’s during the 2nd quarter worth about $25,000. Capital Investment Advisory Services LLC grew its holdings in Moody’s by 203.6% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock worth $34,000 after acquiring an additional 112 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Moody’s during the 2nd quarter worth about $37,000. Private Capital Group LLC grew its holdings in Moody’s by 138.9% during the 2nd quarter. Private Capital Group LLC now owns 215 shares of the business services provider’s stock worth $37,000 after acquiring an additional 125 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Moody’s during the 2nd quarter worth about $39,000. 90.13% of the stock is currently owned by institutional investors and hedge funds.
Moody’s stock traded down $2.46 during trading hours on Tuesday, reaching $216.83. 10,571 shares of the company’s stock traded hands, compared to its average volume of 879,034. The firm has a market capitalization of $41.11 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.70 and a beta of 1.24. The firm’s 50 day moving average is $212.45 and its 200-day moving average is $201.09. The company has a debt-to-equity ratio of 10.04, a quick ratio of 1.71 and a current ratio of 1.71. Moody’s Co. has a fifty-two week low of $129.26 and a fifty-two week high of $222.85.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.92%. Moody’s’s dividend payout ratio is 27.06%.
A number of equities research analysts have commented on MCO shares. UBS Group raised shares of Moody’s from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $245.00 in a report on Monday, October 7th. Barclays restated a “buy” rating on shares of Moody’s in a research report on Sunday, August 4th. Argus upped their target price on shares of Moody’s to $240.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley upped their target price on shares of Moody’s from $173.00 to $176.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $204.09.
In other Moody’s news, insider Raymond W. Mcdaniel sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $212.89, for a total transaction of $1,596,675.00. Following the sale, the insider now directly owns 205,294 shares in the company, valued at approximately $43,705,039.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Almeida sold 27,236 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.06, for a total transaction of $5,639,486.16. The disclosure for this sale can be found here. Insiders sold a total of 38,457 shares of company stock worth $8,027,655 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.
Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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