California Public Employees Retirement System Acquires 16,700 Shares of Moody’s Corporation (MCO)

California Public Employees Retirement System boosted its holdings in Moody’s Corporation (NYSE:MCO) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 471,800 shares of the business services provider’s stock after acquiring an additional 16,700 shares during the quarter. California Public Employees Retirement System owned 0.25% of Moody’s Corporation worth $57,409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allen Investment Management LLC lifted its position in Moody’s Corporation by 11.3% in the 1st quarter. Allen Investment Management LLC now owns 788,544 shares of the business services provider’s stock valued at $88,348,000 after acquiring an additional 80,012 shares in the last quarter. State Treasurer State of Michigan lifted its position in Moody’s Corporation by 4.2% in the 2nd quarter. State Treasurer State of Michigan now owns 159,015 shares of the business services provider’s stock valued at $19,349,000 after acquiring an additional 6,400 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Moody’s Corporation by 6.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 523,807 shares of the business services provider’s stock valued at $58,688,000 after acquiring an additional 31,365 shares in the last quarter. Banque Pictet & Cie SA lifted its position in Moody’s Corporation by 73.1% in the 2nd quarter. Banque Pictet & Cie SA now owns 106,988 shares of the business services provider’s stock valued at $13,018,000 after acquiring an additional 45,191 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in Moody’s Corporation by 17.8% in the 2nd quarter. Fiera Capital Corp now owns 5,793,968 shares of the business services provider’s stock valued at $705,010,000 after acquiring an additional 876,210 shares in the last quarter. 88.74% of the stock is currently owned by institutional investors and hedge funds.

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Moody’s Corporation (NYSE MCO) opened at 138.03 on Friday. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $138.28. The firm’s 50 day moving average is $132.31 and its 200 day moving average is $121.66. The company has a market cap of $26.37 billion, a PE ratio of 55.46 and a beta of 1.30.

Moody’s Corporation (NYSE:MCO) last posted its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.18. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $968.78 million. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts forecast that Moody’s Corporation will post $5.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, August 18th. Moody’s Corporation’s payout ratio is 61.29%.

Several brokerages recently weighed in on MCO. Barclays PLC raised their price target on shares of Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 28th. UBS AG reissued a “neutral” rating and set a $138.00 target price (up previously from $121.00) on shares of Moody’s Corporation in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Moody’s Corporation from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a research report on Thursday, August 17th. BMO Capital Markets lifted their target price on shares of Moody’s Corporation from $124.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, July 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $128.00 target price (up previously from $116.00) on shares of Moody’s Corporation in a research report on Monday, July 24th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $138.86.

In related news, Director Darrell Duffie sold 500 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $121.64, for a total transaction of $60,820.00. Following the transaction, the director now owns 22,268 shares in the company, valued at $2,708,679.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $129.03, for a total transaction of $5,834,220.48. Following the transaction, the insider now owns 292,310 shares in the company, valued at approximately $37,716,759.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,598 shares of company stock worth $19,560,320. 1.17% of the stock is owned by insiders.

Moody’s Corporation Profile

Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.

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

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