Cambridge Investment Research Advisors Inc. boosted its stake in Moody’s Co. (NYSE:MCO) by 29.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,632 shares of the business services provider’s stock after purchasing an additional 592 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Moody’s were worth $449,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. United Asset Strategies Inc. bought a new stake in shares of Moody’s in the 2nd quarter worth about $201,000. Mariner LLC bought a new stake in shares of Moody’s in the 1st quarter worth about $202,000. FineMark National Bank & Trust bought a new stake in shares of Moody’s in the 2nd quarter worth about $205,000. Aldebaran Financial Inc. bought a new stake in shares of Moody’s in the 2nd quarter worth about $205,000. Finally, Sciencast Management LP bought a new stake in shares of Moody’s in the 1st quarter worth about $206,000. Institutional investors and hedge funds own 87.87% of the company’s stock.
A number of analysts have recently weighed in on MCO shares. BMO Capital Markets boosted their target price on shares of Moody’s to $179.00 and gave the stock a “market perform” rating in a report on Wednesday, May 30th. Nomura reduced their target price on shares of Moody’s from $195.00 to $193.00 and set a “buy” rating on the stock in a report on Monday, July 9th. Zacks Investment Research downgraded shares of Moody’s from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Morgan Stanley boosted their target price on shares of Moody’s from $176.00 to $179.00 and gave the stock a “$184.49” rating in a report on Wednesday, July 18th. Finally, Stifel Nicolaus boosted their target price on shares of Moody’s from $170.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, July 30th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Moody’s currently has an average rating of “Hold” and a consensus price target of $175.67.
Moody’s (NYSE:MCO) last issued its quarterly earnings results on Friday, July 27th. The business services provider reported $2.04 EPS for the quarter, beating the consensus estimate of $1.88 by $0.16. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Moody’s had a net margin of 24.10% and a return on equity of 907.23%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. equities analysts forecast that Moody’s Co. will post 7.79 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Monday, August 20th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 17th. This represents a $1.76 annualized dividend and a yield of 0.98%. Moody’s’s payout ratio is 29.00%.
In other news, CFO Linda Huber purchased 915 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were bought at an average cost of $172.31 per share, for a total transaction of $157,663.65. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Moody's Corporation provides credit ratings; and credit, capital markets, and economic related 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 comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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