Los Angeles Capital Management LLC Raises Position in Moody’s Co. (NYSE:MCO)

Los Angeles Capital Management LLC lifted its stake in shares of Moody’s Co. (NYSE:MCOGet Rating) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,687 shares of the business services provider’s stock after purchasing an additional 2,587 shares during the period. Los Angeles Capital Management LLC’s holdings in Moody’s were worth $24,188,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Calamos Wealth Management LLC increased its stake in shares of Moody’s by 6.8% during the 1st quarter. Calamos Wealth Management LLC now owns 819 shares of the business services provider’s stock worth $276,000 after purchasing an additional 52 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Moody’s in the 1st quarter worth approximately $5,843,000. Ellevest Inc. boosted its holdings in Moody’s by 10.3% in the 1st quarter. Ellevest Inc. now owns 580 shares of the business services provider’s stock worth $196,000 after buying an additional 54 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Moody’s in the 4th quarter worth approximately $7,451,000. Finally, Addenda Capital Inc. boosted its holdings in Moody’s by 9.2% in the 1st quarter. Addenda Capital Inc. now owns 12,521 shares of the business services provider’s stock worth $4,225,000 after buying an additional 1,053 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Moody’s Stock Performance

NYSE MCO opened at $311.07 on Friday. Moody’s Co. has a 52-week low of $251.01 and a 52-week high of $407.94. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market capitalization of $57.08 billion, a P/E ratio of 33.59, a P/E/G ratio of 3.00 and a beta of 1.20. The company has a fifty day moving average of $283.14 and a 200-day moving average of $308.68.

Moody’s (NYSE:MCOGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The business services provider reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Moody’s had a return on equity of 71.12% and a net margin of 28.92%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm posted $3.22 earnings per share. The business’s revenue was down 11.1% on a year-over-year basis. As a group, equities research analysts predict that Moody’s Co. will post 9.48 EPS for the current fiscal year.

Moody’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 19th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $2.80 annualized dividend and a yield of 0.90%. Moody’s’s payout ratio is 30.24%.

Insider Activity

In other news, insider Michael L. West sold 780 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $310.53, for a total value of $242,213.40. Following the completion of the sale, the insider now owns 8,330 shares of the company’s stock, valued at approximately $2,586,714.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Michael L. West sold 780 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $310.53, for a total transaction of $242,213.40. Following the transaction, the insider now directly owns 8,330 shares in the company, valued at approximately $2,586,714.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Caroline Sullivan sold 326 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $310.68, for a total value of $101,281.68. Following the transaction, the senior vice president now owns 1,806 shares in the company, valued at $561,088.08. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MCO. Barclays downgraded shares of Moody’s from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $350.00 to $285.00 in a report on Friday, June 3rd. Atlantic Securities downgraded shares of Moody’s from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $370.00 to $298.00 in a report on Wednesday, June 8th. Raymond James cut their price target on shares of Moody’s from $364.00 to $327.00 and set an “outperform” rating for the company in a report on Tuesday, July 12th. Robert W. Baird cut their price target on shares of Moody’s from $363.00 to $342.00 in a report on Tuesday, May 3rd. Finally, BMO Capital Markets cut their price target on shares of Moody’s from $331.00 to $309.00 in a report on Thursday, June 2nd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $329.25.

About Moody’s

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Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as and structured finance securities.

Further Reading

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Institutional Ownership by Quarter for Moody's (NYSE:MCO)

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