Salem Investment Counselors Inc. Has $164,000 Stake in Moody’s Corporation (MCO)
Salem Investment Counselors Inc. grew its position in Moody’s Corporation (NYSE:MCO) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,346 shares of the business services provider’s stock after acquiring an additional 8 shares during the period. Salem Investment Counselors Inc.’s holdings in Moody’s Corporation were worth $164,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Guardian Capital LP boosted its stake in shares of Moody’s Corporation by 5.4% during the 2nd quarter. Guardian Capital LP now owns 84,182 shares of the business services provider’s stock worth $10,243,000 after acquiring an additional 4,296 shares during the period. Sun Life Financial INC raised its stake in Moody’s Corporation by 12,200.0% in 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. Harris Associates L P lifted its holdings in Moody’s Corporation by 8.5% during the 2nd quarter. Harris Associates L P now owns 3,670,649 shares of the business services provider’s stock valued at $446,645,000 after purchasing an additional 288,906 shares during the last quarter. Employees Retirement System of Texas lifted its holdings in Moody’s Corporation by 42.9% during the 2nd quarter. Employees Retirement System of Texas now owns 10,000 shares of the business services provider’s stock valued at $1,217,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in Moody’s Corporation during the 2nd quarter valued at $331,000. 88.74% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on MCO. UBS AG reissued a “neutral” rating and issued a $138.00 price objective (up from $121.00) on shares of Moody’s Corporation in a research report on Tuesday, July 25th. Credit Suisse Group reissued a “neutral” rating and issued a $137.00 price target (up from $131.00) on shares of Moody’s Corporation in a report on Wednesday, August 30th. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “hold” rating and issued a $149.00 price target on shares of Moody’s Corporation in a report on Wednesday. BidaskClub upgraded shares of Moody’s Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Finally, BMO Capital Markets restated a “market perform” rating and set a $136.00 price objective (up previously from $135.00) on shares of Moody’s Corporation in a report on Wednesday, September 6th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Moody’s Corporation has a consensus rating of “Hold” and a consensus price target of $140.13.
Shares of Moody’s Corporation (NYSE MCO) traded up 0.223% during midday trading on Wednesday, hitting $141.315. The company’s stock had a trading volume of 60,695 shares. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $141.38. The stock’s 50 day moving average is $135.09 and its 200-day moving average is $123.56. The firm has a market cap of $27.00 billion, a P/E ratio of 56.776 and a beta of 1.28.
Moody’s Corporation (NYSE:MCO) last posted its earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, topping 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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $968.78 million. During the same quarter in the prior year, the firm posted $1.30 EPS. Moody’s Corporation’s revenue was up 7.7% on a year-over-year basis. Equities analysts predict 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. Shareholders of record on Tuesday, August 22nd were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, August 18th. Moody’s Corporation’s payout ratio is 61.29%.
In other news, insider Raymond W. Mcdaniel sold 61,666 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $123.23, for a total value of $7,599,101.18. Following the transaction, the insider now owns 308,760 shares of the company’s stock, valued at $38,048,494.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $129.03, for a total transaction of $5,834,220.48. Following the completion of the transaction, the insider now directly owns 292,310 shares in the company, valued at approximately $37,716,759.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,598 shares of company stock valued at $19,568,705. Insiders own 1.17% of the company’s stock.
About Moody’s Corporation
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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