Frank Rimerman Advisors LLC Sells 1,316 Shares of Moody’s Co. (NYSE:MCO)

by · The Cerbat Gem

Frank Rimerman Advisors LLC cut its holdings in shares of Moody’s Co. (NYSE:MCO – Free Report) by 30.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,983 shares of the business services provider’s stock after selling 1,316 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Moody’s were worth $1,412,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MCO. Allworth Financial LP increased its holdings in Moody’s by 4.5% in the 4th quarter. Allworth Financial LP now owns 1,001 shares of the business services provider’s stock valued at $485,000 after acquiring an additional 43 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Moody’s by 7.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,560 shares of the business services provider’s stock valued at $31,981,000 after purchasing an additional 4,544 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Moody’s by 6.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,718 shares of the business services provider’s stock worth $8,861,000 after purchasing an additional 1,164 shares during the last quarter. M&T Bank Corp lifted its position in shares of Moody’s by 11.2% in the third quarter. M&T Bank Corp now owns 62,913 shares of the business services provider’s stock worth $29,858,000 after buying an additional 6,340 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its stake in Moody’s by 32.5% during the fourth quarter. Fiduciary Alliance LLC now owns 14,316 shares of the business services provider’s stock valued at $6,777,000 after buying an additional 3,510 shares during the last quarter. Institutional investors own 92.11% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Robert Fauber sold 281 shares of Moody’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $474.86, for a total value of $133,435.66. Following the completion of the sale, the chief executive officer now directly owns 61,894 shares in the company, valued at $29,390,984.84. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 1,124 shares of company stock worth $552,193. 0.14% of the stock is currently owned by company insiders.

Moody’s Stock Up 2.0 %

NYSE:MCO opened at $446.67 on Friday. The stock has a fifty day simple moving average of $486.63 and a 200-day simple moving average of $481.42. The company has a current ratio of 1.47, a quick ratio of 1.67 and a debt-to-equity ratio of 1.81. The company has a market cap of $80.35 billion, a price-to-earnings ratio of 39.63, a price-to-earnings-growth ratio of 2.87 and a beta of 1.34. Moody’s Co. has a twelve month low of $360.05 and a twelve month high of $531.93.

Moody’s (NYSE:MCO – Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.35. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Moody’s had a net margin of 29.03% and a return on equity of 58.94%. Analysts anticipate that Moody’s Co. will post 13.95 EPS for the current year.

Moody’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, February 25th. This is a positive change from Moody’s’s previous quarterly dividend of $0.85. This represents a $3.76 dividend on an annualized basis and a yield of 0.84%. Moody’s’s payout ratio is 33.36%.

Analyst Ratings Changes

MCO has been the topic of several recent research reports. Mizuho initiated coverage on Moody’s in a report on Wednesday. They set a “neutral” rating and a $504.00 price objective on the stock. BMO Capital Markets upped their price target on shares of Moody’s from $481.00 to $531.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley lifted their price objective on shares of Moody’s from $481.00 to $508.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Citigroup started coverage on shares of Moody’s in a research report on Friday, December 20th. They set a “buy” rating and a $565.00 target price on the stock. Finally, Stifel Nicolaus increased their price target on shares of Moody’s from $459.00 to $533.00 and gave the company a “hold” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $527.00.

Read Our Latest Report on MCO

About Moody’s

(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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