Toronto Dominion Bank lessened its stake in shares of Moody’s Co. (NYSE:MCO) by 12.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,030 shares of the business services provider’s stock after selling 14,252 shares during the period. Toronto Dominion Bank’s holdings in Moody’s were worth $19,141,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Natixis bought a new stake in Moody’s during the 2nd quarter valued at $9,766,000. Ossiam bought a new stake in Moody’s during the 2nd quarter valued at $78,000. Pictet Asset Management Ltd. increased its stake in Moody’s by 3.7% during the 2nd quarter. Pictet Asset Management Ltd. now owns 86,957 shares of the business services provider’s stock valued at $16,984,000 after purchasing an additional 3,100 shares in the last quarter. Cibc World Markets Corp increased its stake in Moody’s by 30.3% during the 2nd quarter. Cibc World Markets Corp now owns 28,666 shares of the business services provider’s stock valued at $5,599,000 after purchasing an additional 6,662 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its stake in Moody’s by 77.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 7,024 shares of the business services provider’s stock valued at $1,372,000 after purchasing an additional 3,056 shares in the last quarter. Institutional investors own 90.18% of the company’s stock.
A number of brokerages have commented on MCO. Barclays restated a “buy” rating on shares of Moody’s in a research note on Sunday, August 4th. Argus boosted their price target on shares of Moody’s to $240.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus boosted their price target on shares of Moody’s from $214.00 to $228.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Moody’s from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, UBS Group upped their target price on shares of Moody’s from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $201.09.
In other Moody’s news, insider Mark Almeida sold 27,236 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.06, for a total transaction of $5,639,486.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Raymond W. Mcdaniel sold 7,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $198.46, for a total transaction of $1,488,450.00. Following the sale, the chief executive officer now directly owns 212,794 shares in the company, valued at $42,231,097.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,957 shares of company stock valued at $9,516,105. 0.90% of the stock is owned by company insiders.
MCO traded down $2.46 during trading on Friday, hitting $210.52. 18,554 shares of the company traded hands, compared to its average volume of 658,392. The firm has a market cap of $40.06 billion, a P/E ratio of 28.49 and a beta of 1.24. The stock’s fifty day moving average is $212.31 and its 200 day moving average is $194.14. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 10.04. Moody’s Co. has a one year low of $129.26 and a one year high of $222.85.
Moody’s (NYSE:MCO) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.09. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. Moody’s had a net margin of 27.66% and a return on equity of 266.42%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.04 earnings per share. On average, equities research analysts forecast that Moody’s Co. will post 8.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.00 annualized dividend and a yield of 0.95%. Moody’s’s payout ratio is currently 27.06%.
Moody’s Company 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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