Oppenheimer Asset Management Inc. Grows Position in Moody’s Co. (NYSE:MCO)

Oppenheimer Asset Management Inc. raised its holdings in Moody’s Co. (NYSE:MCOGet Rating) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,764 shares of the business services provider’s stock after acquiring an additional 360 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Moody’s were worth $2,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Qube Research & Technologies Ltd raised its holdings in shares of Moody’s by 87.6% during the 4th quarter. Qube Research & Technologies Ltd now owns 98,032 shares of the business services provider’s stock valued at $38,289,000 after buying an additional 45,765 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Moody’s by 24.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,286 shares of the business services provider’s stock valued at $8,313,000 after buying an additional 4,165 shares in the last quarter. Brinker Capital Investments LLC raised its holdings in shares of Moody’s by 52.9% during the 4th quarter. Brinker Capital Investments LLC now owns 5,160 shares of the business services provider’s stock valued at $2,015,000 after buying an additional 1,785 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Moody’s by 5.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,851 shares of the business services provider’s stock valued at $3,457,000 after buying an additional 447 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in shares of Moody’s by 1.0% during the 4th quarter. First Republic Investment Management Inc. now owns 10,073 shares of the business services provider’s stock valued at $3,934,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.

Insider Activity at Moody’s

In other Moody’s news, insider Michael L. West sold 780 shares of Moody’s stock in a transaction 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 completion of the transaction, the insider now owns 8,330 shares in the company, valued at $2,586,714.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Moody’s news, SVP Caroline Sullivan sold 326 shares of Moody’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $310.68, for a total transaction of $101,281.68. Following the completion of the transaction, the senior vice president now owns 1,806 shares in the company, valued at $561,088.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. West sold 780 shares of Moody’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $310.53, for a total value of $242,213.40. Following the transaction, the insider now owns 8,330 shares of the company’s stock, valued at approximately $2,586,714.90. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Moody’s Trading Down 1.1 %

NYSE MCO opened at $286.80 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.89. Moody’s Co. has a twelve month low of $251.01 and a twelve month high of $407.94. The firm has a market capitalization of $52.63 billion, a PE ratio of 30.97, a P/E/G ratio of 2.81 and a beta of 1.20. The stock’s 50 day moving average is $294.53 and its 200 day moving average is $304.89.

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

Moody’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors 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 dividend yield of 0.98%. Moody’s’s dividend payout ratio is presently 30.24%.

Analysts Set New Price Targets

MCO has been the topic of several recent research reports. Barclays lowered Moody’s from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $350.00 to $285.00 in a research report on Friday, June 3rd. BMO Capital Markets raised their price target on Moody’s from $309.00 to $352.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Royal Bank of Canada reduced their price target on Moody’s from $344.00 to $329.00 in a research report on Tuesday, June 7th. Deutsche Bank Aktiengesellschaft lowered Moody’s from a “buy” rating to a “hold” rating and set a $324.00 price target on the stock. in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Credit Suisse Group reduced their price target on Moody’s from $395.00 to $350.00 in a research report on Tuesday, May 3rd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $325.92.

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.

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

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