Lazard Asset Management LLC Cuts Stock Holdings in Moody’s Co. (NYSE:MCO)

Lazard Asset Management LLC decreased its holdings in shares of Moody’s Co. (NYSE:MCO) by 65.2% during the fourth quarter, HoldingsChannel reports. The firm owned 16,330 shares of the business services provider’s stock after selling 30,572 shares during the period. Lazard Asset Management LLC’s holdings in Moody’s were worth $7,729,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCO. Capital Investment Advisors LLC purchased a new position in Moody’s during the 4th quarter valued at about $1,290,000. Accurate Wealth Management LLC increased its position in Moody’s by 17.6% during the 4th quarter. Accurate Wealth Management LLC now owns 668 shares of the business services provider’s stock valued at $303,000 after purchasing an additional 100 shares during the period. Crestmont Private Wealth LLC boosted its holdings in shares of Moody’s by 2.5% in the 4th quarter. Crestmont Private Wealth LLC now owns 1,092 shares of the business services provider’s stock valued at $517,000 after buying an additional 27 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Moody’s by 2.2% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,503 shares of the business services provider’s stock valued at $711,000 after buying an additional 32 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in shares of Moody’s in the 4th quarter valued at about $379,000. Hedge funds and other institutional investors own 92.11% of the company’s stock.

Moody’s Stock Down 1.1%

NYSE:MCO opened at $479.13 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.67 and a debt-to-equity ratio of 1.81. Moody’s Co. has a twelve month low of $378.71 and a twelve month high of $531.93. The company’s 50 day moving average is $447.41 and its two-hundred day moving average is $471.95. The company has a market cap of $86.20 billion, a PE ratio of 42.51, a P/E/G ratio of 2.87 and a beta of 1.40.

Moody’s (NYSE:MCO) last announced its quarterly earnings data on Tuesday, April 22nd. The business services provider reported $3.83 EPS for the quarter, beating the consensus estimate of $3.58 by $0.25. Moody’s had a net margin of 29.03% and a return on equity of 58.94%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Analysts anticipate that Moody’s Co. will post 13.95 EPS for the current year.

Moody’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, May 16th. Moody’s’s payout ratio is 32.47%.

Insider Buying and Selling at Moody’s

In other Moody’s news, CEO Robert Fauber sold 281 shares of Moody’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $522.20, for a total transaction of $146,738.20. Following the completion of the sale, the chief executive officer now directly owns 61,894 shares in the company, valued at approximately $32,321,046.80. The trade was a 0.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 1,111 shares of company stock worth $520,603. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCO. Stifel Nicolaus lowered their price target on shares of Moody’s from $533.00 to $468.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on shares of Moody’s from $585.00 to $495.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Morgan Stanley raised their price target on shares of Moody’s from $481.00 to $508.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Wells Fargo & Company lowered their price target on shares of Moody’s from $610.00 to $572.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Bank of America began coverage on shares of Moody’s in a report on Thursday, April 10th. They issued a “buy” rating and a $530.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $515.87.

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.