Paloma Partners Management Co grew its holdings in shares of Moody’s Co. (NYSE:MCO) by 1,257.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,235 shares of the business services provider’s stock after acquiring an additional 152,136 shares during the quarter. Moody’s comprises 0.5% of Paloma Partners Management Co’s investment portfolio, making the stock its 23rd largest position. Paloma Partners Management Co’s holdings in Moody’s were worth $32,077,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MCO. Krane Funds Advisors LLC purchased a new position in shares of Moody’s during the 2nd quarter valued at about $25,000. Capital Investment Advisory Services LLC raised its holdings in shares of Moody’s by 203.6% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock valued at $34,000 after buying an additional 112 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Moody’s during the 2nd quarter valued at about $37,000. Resources Investment Advisors Inc. purchased a new position in shares of Moody’s during the 1st quarter valued at about $40,000. Finally, Ibex Wealth Advisors purchased a new position in shares of Moody’s during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.
Moody’s stock traded down $0.26 during trading hours on Thursday, reaching $216.50. The company had a trading volume of 41,201 shares, compared to its average volume of 681,102. The company has a debt-to-equity ratio of 10.04, a current ratio of 1.71 and a quick ratio of 1.71. The company has a 50-day moving average price of $213.59 and a 200 day moving average price of $195.35. The firm has a market cap of $41.01 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.65 and a beta of 1.24. Moody’s Co. has a 12-month low of $129.26 and a 12-month high of $222.85.
Moody’s (NYSE:MCO) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.09. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Moody’s had a return on equity of 266.42% and a net margin of 27.66%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.04 EPS. As a group, research analysts expect that Moody’s Co. will post 8.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were paid a $0.50 dividend. The ex-dividend date was Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a yield of 0.92%. Moody’s’s dividend payout ratio (DPR) is currently 27.06%.
In other news, insider Robert Fauber sold 3,721 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $212.71, for a total transaction of $791,493.91. Following the transaction, the insider now directly owns 48,382 shares of the company’s stock, valued at $10,291,335.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Raymond W. Mcdaniel sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $198.46, for a total value of $1,488,450.00. Following the transaction, the chief executive officer now directly owns 212,794 shares in the company, valued at $42,231,097.24. The disclosure for this sale can be found here. Insiders sold a total of 45,957 shares of company stock worth $9,516,105 over the last ninety days. Insiders own 0.90% of the company’s stock.
A number of equities analysts recently weighed in on MCO shares. JPMorgan Chase & Co. raised their price objective on Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group raised their price objective on Moody’s from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley raised their price objective on Moody’s from $170.00 to $173.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th. Argus raised their price objective on Moody’s to $240.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Barclays reissued a “buy” rating on shares of Moody’s in a report on Sunday, August 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $201.09.
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.
Further Reading: Return on Investment (ROI)
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