Hennessy Advisors Inc. lessened its holdings in shares of Moody’s Co. (NYSE:MCO) by 4.3% during the first quarter, HoldingsChannel.com reports. The fund owned 11,000 shares of the business services provider’s stock after selling 500 shares during the period. Hennessy Advisors Inc.’s holdings in Moody’s were worth $1,992,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MCO. Bank of New York Mellon Corp grew its holdings in Moody’s by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 1,423,853 shares of the business services provider’s stock worth $238,071,000 after acquiring an additional 9,246 shares during the period. Dimensional Fund Advisors LP grew its holdings in Moody’s by 11.9% during the third quarter. Dimensional Fund Advisors LP now owns 452,328 shares of the business services provider’s stock worth $75,651,000 after acquiring an additional 47,962 shares during the period. Standard Life Aberdeen plc grew its holdings in Moody’s by 10.2% during the third quarter. Standard Life Aberdeen plc now owns 55,922 shares of the business services provider’s stock worth $9,350,000 after acquiring an additional 5,176 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Moody’s by 101.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,566 shares of the business services provider’s stock worth $1,600,000 after acquiring an additional 4,825 shares during the period. Finally, First Republic Investment Management Inc. grew its holdings in Moody’s by 8.4% during the third quarter. First Republic Investment Management Inc. now owns 7,437 shares of the business services provider’s stock worth $1,243,000 after acquiring an additional 575 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

Moody’s stock opened at $185.28 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 7.96. The firm has a market capitalization of $35.24 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 2.26 and a beta of 1.29. Moody’s Co. has a fifty-two week low of $129.26 and a fifty-two week high of $188.51.

Moody’s (NYSE:MCO) last posted its earnings results on Friday, February 15th. The business services provider reported $1.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.08). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.14 billion. Moody’s had a net margin of 29.48% and a return on equity of 268.11%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the company posted $1.51 EPS. Equities analysts predict that Moody’s Co. will post 7.91 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, February 25th were issued a $0.50 dividend. This is a positive change from Moody’s’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 22nd. This represents a $2.00 annualized dividend and a yield of 1.08%. Moody’s’s dividend payout ratio is 27.06%.

A number of brokerages recently weighed in on MCO. BMO Capital Markets upped their price objective on Moody’s to $172.00 and gave the stock a “market perform” rating in a report on Tuesday, February 19th. UBS Group dropped their price objective on Moody’s from $156.00 to $154.00 and set a “neutral” rating on the stock in a report on Tuesday, January 8th. ValuEngine raised Moody’s from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. Zacks Investment Research lowered Moody’s from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, Morgan Stanley lowered Moody’s from an “equal weight” rating to an “underweight” rating and set a $135.00 price objective on the stock. in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $175.27.

In other Moody’s news, insider Raymond W. Mcdaniel sold 44,146 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $183.95, for a total value of $8,120,656.70. Following the sale, the insider now owns 229,749 shares of the company’s stock, valued at $42,262,328.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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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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