Tredje AP fonden lowered its position in Moody’s Co. (NYSE:MCO) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,418 shares of the business services provider’s stock after selling 1,985 shares during the quarter. Tredje AP fonden’s holdings in Moody’s were worth $2,931,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new position in shares of Moody’s in the 4th quarter worth about $26,000. Allred Capital Management LLC grew its holdings in shares of Moody’s by 42.4% during the 1st quarter. Allred Capital Management LLC now owns 141 shares of the business services provider’s stock worth $30,000 after purchasing an additional 42 shares during the period. Acadian Asset Management LLC acquired a new stake in Moody’s during the 4th quarter worth approximately $34,000. Orion Portfolio Solutions LLC purchased a new position in Moody’s in the fourth quarter valued at approximately $41,000. Finally, MBE Wealth Management LLC acquired a new position in Moody’s during the first quarter valued at approximately $44,000. 90.99% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:MCO traded up $3.05 during trading on Friday, hitting $256.82. The company’s stock had a trading volume of 384,505 shares, compared to its average volume of 1,028,918. The company has a market capitalization of $47.58 billion, a PE ratio of 31.86, a PEG ratio of 3.09 and a beta of 1.17. Moody’s Co. has a fifty-two week low of $164.19 and a fifty-two week high of $287.25. The company has a debt-to-equity ratio of 8.47, a quick ratio of 1.70 and a current ratio of 1.70. The stock’s 50-day moving average price is $240.37 and its two-hundred day moving average price is $238.27.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a $0.56 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $2.24 annualized dividend and a yield of 0.87%. Moody’s’s dividend payout ratio is presently 27.02%.
In other news, insider Stephen T. Tulenko sold 5,180 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $260.98, for a total transaction of $1,351,876.40. Following the transaction, the insider now owns 8,576 shares of the company’s stock, valued at $2,238,164.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen T. Tulenko sold 625 shares of Moody’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $264.22, for a total value of $165,137.50. Following the completion of the transaction, the insider now owns 13,169 shares of the company’s stock, valued at $3,479,513.18. The disclosure for this sale can be found here. Insiders have sold a total of 79,657 shares of company stock worth $18,759,715 over the last quarter. 0.79% of the stock is currently owned by insiders.
Several research firms have recently issued reports on MCO. Cantor Fitzgerald increased their price objective on shares of Moody’s from $233.00 to $266.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Oppenheimer began coverage on Moody’s in a report on Monday, May 18th. They issued an “outperform” rating and a $290.00 price target for the company. Morgan Stanley boosted their price objective on Moody’s from $211.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. BMO Capital Markets upped their target price on Moody’s from $248.00 to $285.00 in a research report on Friday, May 1st. Finally, Wells Fargo & Co raised their target price on Moody’s from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $263.45.
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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