Teacher Retirement System of Texas increased its stake in shares of Moody's Co. (NYSE:MCO) by 186.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,293 shares of the business services provider’s stock after buying an additional 8,652 shares during the period. Teacher Retirement System of Texas’ holdings in Moody's were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in MCO. IFP Advisors Inc raised its position in Moody's by 78.1% during the second quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock worth $139,000 after acquiring an additional 502 shares during the last quarter. Sun Life Financial INC raised its position in Moody's by 12,200.0% during the second quarter. Sun Life Financial INC now owns 1,230 shares of the business services provider’s stock worth $150,000 after acquiring an additional 1,220 shares during the last quarter. Salem Investment Counselors Inc. raised its position in Moody's by 0.6% during the second quarter. Salem Investment Counselors Inc. now owns 1,346 shares of the business services provider’s stock worth $164,000 after acquiring an additional 8 shares during the last quarter. Smithfield Trust Co. raised its position in Moody's by 6.7% during the second quarter. Smithfield Trust Co. now owns 1,427 shares of the business services provider’s stock worth $174,000 after acquiring an additional 90 shares during the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV acquired a new position in Moody's during the second quarter worth about $200,000. 87.49% of the stock is currently owned by hedge funds and other institutional investors.
In other Moody's news, insider Raymond W. Mcdaniel sold 45,216 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the transaction, the insider now directly owns 292,310 shares in the company, valued at approximately $39,216,309.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Darrell Duffie sold 500 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $138.41, for a total transaction of $69,205.00. Following the transaction, the director now owns 21,804 shares in the company, valued at $3,017,891.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,716 shares of company stock valued at $6,703,384. 1.17% of the stock is owned by insiders.
Shares of Moody's Co. (NYSE MCO) traded up $0.19 during mid-day trading on Wednesday, reaching $152.27. 605,777 shares of the company traded hands, compared to its average volume of 838,776. Moody's Co. has a 1 year low of $93.51 and a 1 year high of $153.86. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of -32.57. The firm has a market capitalization of $28,999.43, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 2.69 and a beta of 1.36.
Moody's (NYSE:MCO) last issued its quarterly earnings results on Friday, November 3rd. The business services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.37 by $0.15. Moody's had a net margin of 13.73% and a negative return on equity of 187.20%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $992.81 million. During the same quarter in the prior year, the business posted $1.34 earnings per share. Moody's’s revenue for the quarter was up 15.9% compared to the same quarter last year. sell-side analysts anticipate that Moody's Co. will post 5.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.38 per share. The ex-dividend date is Monday, November 20th. This represents a $1.52 annualized dividend and a yield of 1.00%. Moody's’s dividend payout ratio is currently 54.29%.
A number of equities analysts have issued reports on MCO shares. Credit Suisse Group restated a “neutral” rating and set a $137.00 target price (up previously from $131.00) on shares of Moody's in a research report on Wednesday, August 30th. They noted that the move was a valuation call. BMO Capital Markets restated a “market perform” rating and set a $136.00 target price (up previously from $135.00) on shares of Moody's in a research report on Wednesday, September 6th. Barclays boosted their price objective on shares of Moody's from $135.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, September 15th. Morgan Stanley reissued an “equal weight” rating and issued a $135.00 price objective (up previously from $134.00) on shares of Moody's in a research report on Friday, October 6th. Finally, UBS boosted their price objective on shares of Moody's from $142.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $151.89.
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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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