Moody’s Corporation $MCO Shares Sold by Korea Investment CORP

by · The Cerbat Gem

Korea Investment CORP lowered its stake in shares of Moody’s Corporation (NYSE:MCOFree Report) by 12.3% during the first quarter, Holdings Channel reports. The fund owned 97,565 shares of the business services provider’s stock after selling 13,646 shares during the quarter. Korea Investment CORP’s holdings in Moody’s were worth $45,435,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MCO. Bank Pictet & Cie Europe AG boosted its stake in shares of Moody’s by 16.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,335 shares of the business services provider’s stock valued at $34,715,000 after acquiring an additional 10,350 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Moody’s during the fourth quarter valued at $442,000. NewEdge Advisors LLC boosted its stake in shares of Moody’s by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 2,123 shares of the business services provider’s stock valued at $1,005,000 after acquiring an additional 804 shares during the last quarter. Forum Financial Management LP boosted its stake in shares of Moody’s by 17.0% during the fourth quarter. Forum Financial Management LP now owns 722 shares of the business services provider’s stock valued at $342,000 after acquiring an additional 105 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of Moody’s by 0.6% during the fourth quarter. MML Investors Services LLC now owns 17,162 shares of the business services provider’s stock valued at $8,124,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho increased their price objective on Moody’s from $496.00 to $532.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Oppenheimer raised their price target on Moody’s from $552.00 to $563.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. BMO Capital Markets raised their price target on Moody’s from $509.00 to $534.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Barclays raised their price target on Moody’s from $520.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on Moody’s from $495.00 to $565.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Moody’s presently has an average rating of “Moderate Buy” and an average target price of $538.80.

Check Out Our Latest Analysis on MCO

Moody’s Stock Performance

Moody’s stock opened at $509.18 on Tuesday. The stock’s 50-day moving average is $499.71 and its 200-day moving average is $479.43. The company has a market cap of $91.14 billion, a price-to-earnings ratio of 43.26, a price-to-earnings-growth ratio of 3.31 and a beta of 1.40. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.75 and a quick ratio of 1.75. Moody’s Corporation has a 12 month low of $378.71 and a 12 month high of $531.93.

Moody’s (NYSE:MCOGet Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.39 by $0.17. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.82 billion. Moody’s had a return on equity of 60.73% and a net margin of 29.18%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $3.28 EPS. Equities analysts anticipate that Moody’s Corporation will post 13.95 earnings per share for the current year.

Moody’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, August 15th. Moody’s’s dividend payout ratio (DPR) is presently 31.95%.

Insider Buying and Selling at Moody’s

In related news, SVP Richard G. Steele sold 1,457 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $508.83, for a total transaction of $741,365.31. Following the sale, the senior vice president directly owned 1,386 shares in the company, valued at approximately $705,238.38. This trade represents a 51.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen T. Tulenko sold 2,120 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $511.18, for a total value of $1,083,701.60. Following the sale, the insider owned 5,558 shares in the company, valued at approximately $2,841,138.44. The trade was a 27.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,008 shares of company stock worth $4,599,385. Insiders own 0.14% of the company’s stock.

Moody’s Company Profile

(Free Report)

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.

Further Reading

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