M&T Bank Corp lifted its holdings in shares of Moody’s Co. (NYSE:MCO) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,534 shares of the business services provider’s stock after purchasing an additional 1,203 shares during the quarter. M&T Bank Corp’s holdings in Moody’s were worth $7,690,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Profund Advisors LLC increased its stake in shares of Moody’s by 1.4% during the 2nd quarter. Profund Advisors LLC now owns 2,762 shares of the business services provider’s stock worth $759,000 after purchasing an additional 37 shares during the last quarter. Winslow Evans & Crocker Inc. grew its stake in Moody’s by 1.4% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 2,920 shares of the business services provider’s stock valued at $846,000 after buying an additional 40 shares during the last quarter. CX Institutional grew its stake in Moody’s by 33.6% in the 3rd quarter. CX Institutional now owns 163 shares of the business services provider’s stock valued at $47,000 after buying an additional 41 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Moody’s by 3.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,402 shares of the business services provider’s stock valued at $385,000 after buying an additional 49 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. grew its stake in Moody’s by 0.5% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 10,679 shares of the business services provider’s stock valued at $3,095,000 after buying an additional 53 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.
In other news, CEO Raymond W. Mcdaniel sold 42,662 shares of Moody’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $290.21, for a total transaction of $12,380,939.02. Following the completion of the sale, the chief executive officer now owns 270,908 shares in the company, valued at approximately $78,620,210.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.79% of the stock is owned by insiders.
Shares of NYSE MCO opened at $275.41 on Monday. Moody’s Co. has a 1-year low of $164.19 and a 1-year high of $305.95. The company has a market cap of $51.72 billion, a PE ratio of 28.66, a P/E/G ratio of 2.82 and a beta of 1.24. The company has a current ratio of 2.49, a quick ratio of 2.10 and a debt-to-equity ratio of 3.77. The company has a 50-day moving average of $282.11 and a two-hundred day moving average of $277.02.
Moody’s (NYSE:MCO) last issued its quarterly earnings results on Thursday, October 29th. The business services provider reported $2.69 EPS for the quarter, topping the consensus estimate of $2.19 by $0.50. Moody’s had a net margin of 34.31% and a return on equity of 170.55%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company earned $2.15 EPS. Moody’s’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that Moody’s Co. will post 10.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, November 23rd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, November 20th. Moody’s’s dividend payout ratio is 27.02%.
MCO has been the topic of a number of research analyst reports. Stifel Nicolaus raised their target price on shares of Moody’s from $293.00 to $296.00 and gave the company a “hold” rating in a research note on Friday, October 2nd. Morgan Stanley raised their target price on shares of Moody’s from $292.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, October 30th. Credit Suisse Group reiterated a “buy” rating and issued a $330.00 target price on shares of Moody’s in a research note on Tuesday, July 28th. Zacks Investment Research upgraded shares of Moody’s from a “hold” rating to a “buy” rating and set a $293.00 target price on the stock in a research note on Wednesday, September 9th. Finally, UBS Group raised their price target on shares of Moody’s from $358.00 to $368.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $294.67.
Moody's Corporation provides credit ratings and assessment services; 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 and provides assessment services 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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