Prime Capital Investment Advisors LLC bought a new stake in shares of Moody’s Co. (NYSE:MCO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 203 shares of the business services provider’s stock, valued at approximately $42,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in Moody’s in the second quarter worth approximately $25,000. Venturi Wealth Management LLC bought a new position in Moody’s in the third quarter worth approximately $25,000. Capital Investment Advisory Services LLC grew its stake in Moody’s by 203.6% in the second quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock worth $34,000 after purchasing an additional 112 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Moody’s in the second quarter worth approximately $37,000. Finally, Private Capital Group LLC grew its stake in Moody’s by 138.9% in the second quarter. Private Capital Group LLC now owns 215 shares of the business services provider’s stock worth $37,000 after purchasing an additional 125 shares in the last quarter. 90.27% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP John J. Goggins sold 20,784 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $218.06, for a total transaction of $4,532,159.04. Following the completion of the sale, the executive vice president now owns 86,543 shares in the company, valued at approximately $18,871,566.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Fauber sold 3,721 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $216.26, for a total value of $804,703.46. Following the sale, the insider now owns 49,591 shares of the company’s stock, valued at approximately $10,724,549.66. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
Moody’s (NYSE:MCO) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.16. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Moody’s had a return on equity of 270.17% and a net margin of 28.20%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 EPS. On average, equities analysts predict that Moody’s Co. will post 8.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 annualized dividend and a yield of 0.92%. Moody’s’s dividend payout ratio (DPR) is presently 27.06%.
Several brokerages recently issued reports on MCO. Morgan Stanley increased their price objective on Moody’s from $176.00 to $181.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. William Blair reissued an “outperform” rating on shares of Moody’s in a research note on Thursday, October 31st. UBS Group increased their price objective on Moody’s from $245.00 to $257.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. ValuEngine cut Moody’s from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their price objective on Moody’s from $214.00 to $228.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Moody’s presently has a consensus rating of “Hold” and a consensus price target of $208.91.
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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