Moody's Co. (MCO) Shares Sold by Epoch Investment Partners Inc.
Epoch Investment Partners Inc. cut its holdings in shares of Moody's Co. (NYSE:MCO) by 48.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,208 shares of the business services provider’s stock after selling 22,227 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Moody's were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust boosted its holdings in Moody's by 156.7% during the 3rd quarter. Grove Bank & Trust now owns 901 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 550 shares during the period. IFP Advisors Inc boosted its holdings in Moody's by 78.1% during the 2nd quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 502 shares during the period. Sun Life Financial INC boosted its holdings in Moody's by 12,200.0% during the 2nd quarter. Sun Life Financial INC now owns 1,230 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 1,220 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Moody's by 0.6% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,346 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 8 shares during the period. Finally, Invictus RG purchased a new position in Moody's during the 3rd quarter valued at about $199,000. Institutional investors and hedge funds own 87.49% of the company’s stock.
Moody's Co. (NYSE:MCO) traded down $0.54 during mid-day trading on Friday, reaching $151.73. The company’s stock had a trading volume of 801,900 shares, compared to its average volume of 838,620. 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 cap of $29,098.80, a price-to-earnings ratio of 26.57, a P/E/G ratio of 2.70 and a beta of 1.36. Moody's Co. has a 52 week low of $93.51 and a 52 week high of $153.86.
Moody's (NYSE:MCO) last posted its quarterly earnings results on Friday, November 3rd. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $992.81 million. Moody's had a negative return on equity of 187.20% and a net margin of 13.73%. Moody's’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.34 EPS. equities analysts anticipate that Moody's Co. will post 5.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Monday, November 20th. Moody's’s dividend payout ratio is currently 54.29%.
In other news, Director Ewald Kist sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $142.00, for a total transaction of $568,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Darrell Duffie sold 500 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $138.41, for a total value of $69,205.00. Following the sale, the director now directly owns 21,804 shares in the company, valued at approximately $3,017,891.64. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.
A number of brokerages recently commented on MCO. Cantor Fitzgerald restated a “hold” rating and set a $148.00 target price on shares of Moody's in a report on Wednesday, November 29th. Barclays upgraded Moody's from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $150.00 to $165.00 in a report on Friday, November 17th. Argus raised their target price on Moody's to $165.00 and gave the company a “buy” rating in a report on Thursday, November 9th. BMO Capital Markets raised their target price on Moody's from $143.00 to $146.00 and gave the company a “market perform” rating in a report on Monday, November 6th. Finally, Credit Suisse Group raised their target price on Moody's from $137.00 to $161.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $151.89.
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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