Moody’s Co. (NYSE:MCO) Position Lowered by Redmond Asset Management LLC

Redmond Asset Management LLC decreased its stake in shares of Moody’s Co. (NYSE:MCO) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,930 shares of the business services provider’s stock after selling 163 shares during the period. Redmond Asset Management LLC’s holdings in Moody’s were worth $963,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MCO. FMR LLC lifted its position in shares of Moody’s by 15.7% during the first quarter. FMR LLC now owns 4,583,309 shares of the business services provider’s stock worth $829,991,000 after purchasing an additional 620,741 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Moody’s by 20.6% during the fourth quarter. Geode Capital Management LLC now owns 2,402,887 shares of the business services provider’s stock worth $335,962,000 after purchasing an additional 410,864 shares during the last quarter. BlackRock Inc. lifted its position in shares of Moody’s by 2.2% during the first quarter. BlackRock Inc. now owns 12,278,489 shares of the business services provider’s stock worth $2,223,511,000 after purchasing an additional 265,811 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Moody’s by 712.1% during the first quarter. First Trust Advisors LP now owns 267,416 shares of the business services provider’s stock worth $48,426,000 after purchasing an additional 234,486 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Moody’s by 2,285.1% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 241,328 shares of the business services provider’s stock worth $43,702,000 after purchasing an additional 231,210 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on MCO shares. UBS Group increased their price target on shares of Moody’s from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays reissued a “buy” rating on shares of Moody’s in a report on Sunday, August 4th. Morgan Stanley raised their target price on shares of Moody’s from $150.00 to $164.00 and gave the stock an “underweight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price on shares of Moody’s from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald raised their target price on shares of Moody’s from $168.00 to $192.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $200.27.

NYSE MCO traded up $3.27 during trading hours on Thursday, reaching $209.78. The company’s stock had a trading volume of 155,984 shares, compared to its average volume of 744,511. The company has a debt-to-equity ratio of 10.04, a quick ratio of 1.71 and a current ratio of 1.71. The company has a 50-day moving average of $204.29. Moody’s Co. has a 52 week low of $129.26 and a 52 week high of $220.68. The company has a market cap of $40.32 billion, a PE ratio of 28.39 and a beta of 1.26.

Moody’s (NYSE:MCO) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.09. Moody’s had a net margin of 27.66% and a return on equity of 266.42%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company posted $2.04 earnings per share. Moody’s’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Moody’s Co. will post 8.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. Moody’s’s dividend payout ratio (DPR) is presently 27.06%.

In other news, insider Robert Fauber sold 460 shares of Moody’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $186.52, for a total transaction of $85,799.20. Following the sale, the insider now owns 46,026 shares of the company’s stock, valued at $8,584,769.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Raymond W. Mcdaniel sold 55,422 shares of Moody’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $182.23, for a total value of $10,099,551.06. Following the sale, the insider now directly owns 275,716 shares in the company, valued at approximately $50,243,726.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,603 shares of company stock worth $14,061,969. Corporate insiders own 0.90% of the company’s stock.

About Moody’s

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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Institutional Ownership by Quarter for Moody`s (NYSE:MCO)

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