Moody’s Co. (NYSE:MCO) Shares Acquired by Convergence Investment Partners LLC

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Convergence Investment Partners LLC lifted its holdings in shares of Moody’s Co. (NYSE:MCO) by 22.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,845 shares of the business services provider’s stock after purchasing an additional 696 shares during the quarter. Convergence Investment Partners LLC’s holdings in Moody’s were worth $1,056,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MCO. APG Asset Management N.V. boosted its holdings in shares of Moody’s by 74.2% during the first quarter. APG Asset Management N.V. now owns 1,504,435 shares of the business services provider’s stock worth $242,631,000 after purchasing an additional 640,984 shares during the last quarter. Windacre Partnership LLC boosted its holdings in Moody’s by 32.6% in the first quarter. Windacre Partnership LLC now owns 2,149,700 shares of the business services provider’s stock valued at $454,662,000 after acquiring an additional 528,500 shares during the last quarter. BlackRock Inc. boosted its holdings in Moody’s by 2.6% in the first quarter. BlackRock Inc. now owns 11,203,890 shares of the business services provider’s stock valued at $2,369,626,000 after acquiring an additional 286,170 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Moody’s by 92.6% in the first quarter. Alliancebernstein L.P. now owns 535,115 shares of the business services provider’s stock valued at $113,177,000 after acquiring an additional 257,289 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI boosted its holdings in Moody’s by 198.5% in the first quarter. Zurich Insurance Group Ltd FI now owns 371,474 shares of the business services provider’s stock valued at $78,567,000 after acquiring an additional 247,036 shares during the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.

Shares of NYSE MCO traded down $2.47 during midday trading on Friday, reaching $281.30. 925,639 shares of the company’s stock were exchanged, compared to its average volume of 575,974. Moody’s Co. has a 52-week low of $164.19 and a 52-week high of $296.66. The stock has a market capitalization of $52.74 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 3.17 and a beta of 1.19. The company has a debt-to-equity ratio of 9.17, a quick ratio of 1.70 and a current ratio of 2.10. The business’s fifty day moving average price is $281.46 and its two-hundred day moving average price is $255.09.

Moody’s (NYSE:MCO) last announced its earnings results on Thursday, July 30th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.55. Moody’s had a return on equity of 204.46% and a net margin of 33.38%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $2.07 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts predict that Moody’s Co. will post 8.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, August 19th. Moody’s’s payout ratio is 27.02%.

In related news, insider Stephen T. Tulenko sold 2,000 shares of Moody’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $253.22, for a total value of $506,440.00. Following the completion of the transaction, the insider now directly owns 11,544 shares in the company, valued at $2,923,171.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Raymond W. Mcdaniel sold 7,500 shares of Moody’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $245.64, for a total value of $1,842,300.00. Following the completion of the transaction, the chief executive officer now owns 242,131 shares of the company’s stock, valued at $59,477,058.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,727 shares of company stock worth $16,235,465. Corporate insiders own 0.79% of the company’s stock.

A number of research analysts recently weighed in on the company. Zacks Investment Research upgraded Moody’s from a “hold” rating to a “buy” rating and set a $298.00 target price on the stock in a report on Tuesday, July 7th. Goldman Sachs Group raised their price objective on Moody’s from $258.00 to $295.00 in a research report on Wednesday, July 8th. Oppenheimer initiated coverage on Moody’s in a research report on Monday, May 18th. They issued an “outperform” rating and a $290.00 price objective on the stock. BMO Capital Markets raised their price objective on Moody’s from $285.00 to $298.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, Morgan Stanley cut their price objective on Moody’s from $278.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $286.85.

Moody’s Profile

Moody's Corporation provides credit ratings; 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 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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Institutional Ownership by Quarter for Moody`s (NYSE:MCO)

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