Convergence Financial LLC Sells 256 Shares of Moody’s Co. (NYSE:MCO)

Convergence Financial LLC trimmed its position in Moody’s Co. (NYSE:MCO) by 35.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 466 shares of the business services provider’s stock after selling 256 shares during the quarter. Convergence Financial LLC’s holdings in Moody’s were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MCO. New Covenant Trust Company N.A. bought a new stake in shares of Moody’s in the 1st quarter valued at about $27,000. Versant Capital Management Inc grew its stake in Moody’s by 114.3% in the 2nd quarter. Versant Capital Management Inc now owns 75 shares of the business services provider’s stock valued at $32,000 after buying an additional 40 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in Moody’s in the 2nd quarter valued at about $35,000. EntryPoint Capital LLC acquired a new position in Moody’s in the 1st quarter valued at about $38,000. Finally, Asset Dedication LLC grew its stake in Moody’s by 83.0% in the 3rd quarter. Asset Dedication LLC now owns 86 shares of the business services provider’s stock valued at $41,000 after buying an additional 39 shares during the last quarter. 92.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Moody’s news, insider Stephen T. Tulenko sold 569 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $444.26, for a total value of $252,783.94. Following the completion of the transaction, the insider now owns 8,147 shares of the company’s stock, valued at $3,619,386.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Moody’s news, insider Stephen T. Tulenko sold 569 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $444.26, for a total value of $252,783.94. Following the completion of the transaction, the insider now owns 8,147 shares of the company’s stock, valued at $3,619,386.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen T. Tulenko sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $464.06, for a total value of $232,030.00. Following the completion of the transaction, the insider now directly owns 6,647 shares of the company’s stock, valued at approximately $3,084,606.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,931 shares of company stock valued at $1,332,825 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MCO shares. Robert W. Baird upped their price target on shares of Moody’s from $490.00 to $512.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada upped their price target on shares of Moody’s from $450.00 to $475.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays increased their target price on shares of Moody’s from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Stifel Nicolaus increased their target price on shares of Moody’s from $454.00 to $459.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Bank of America increased their target price on shares of Moody’s from $430.00 to $510.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Moody’s presently has a consensus rating of “Hold” and an average price target of $500.00.

Moody’s Price Performance

Moody’s stock opened at $462.80 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.52 and a current ratio of 1.52. Moody’s Co. has a 52 week low of $298.86 and a 52 week high of $495.10. The stock has a market capitalization of $84.51 billion, a P/E ratio of 50.52, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. The stock has a fifty day moving average of $478.06 and a 200-day moving average of $438.56.

Moody’s (NYSE:MCO) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.32. Moody’s had a return on equity of 57.03% and a net margin of 28.34%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm earned $2.43 EPS. Moody’s’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that Moody’s Co. will post 11.46 earnings per share for the current fiscal year.

Moody’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a $0.85 dividend. The ex-dividend date is Friday, November 22nd. This represents a $3.40 dividend on an annualized basis and a yield of 0.73%. Moody’s’s payout ratio is presently 37.12%.

Moody’s Company Profile

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.