State of Tennessee Treasury Department boosted its position in shares of Moody’s Co. (NYSE:MCO) by 16.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,760 shares of the business services provider’s stock after buying an additional 8,694 shares during the quarter. State of Tennessee Treasury Department’s holdings in Moody’s were worth $12,851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCO. Fred Alger Management LLC bought a new stake in shares of Moody’s in the first quarter valued at about $26,000. Allred Capital Management LLC raised its holdings in shares of Moody’s by 42.4% in the first quarter. Allred Capital Management LLC now owns 141 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Moody’s in the fourth quarter valued at about $34,000. Orion Portfolio Solutions LLC bought a new stake in shares of Moody’s in the fourth quarter valued at about $41,000. Finally, MBE Wealth Management LLC bought a new stake in shares of Moody’s in the first quarter valued at about $44,000. 90.31% of the stock is owned by institutional investors.

Shares of MCO traded down $2.69 during mid-day trading on Friday, hitting $273.48. 9,930 shares of the company traded hands, compared to its average volume of 796,493. Moody’s Co. has a 1-year low of $164.19 and a 1-year high of $287.25. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 8.47. The company has a market capitalization of $49.79 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 3.18 and a beta of 1.18. The business has a 50 day moving average of $264.51 and a 200 day moving average of $246.52.

Moody’s (NYSE:MCO) last posted its quarterly earnings data on Thursday, April 30th. The business services provider reported $2.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.43. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.20 billion. Moody’s had a net margin of 30.88% and a return on equity of 235.22%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.07 earnings per share. As a group, research analysts expect that Moody’s Co. will post 8.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.24 dividend on an annualized basis and a yield of 0.82%. Moody’s’s dividend payout ratio is currently 27.02%.

In other Moody’s news, CEO Raymond W. Mcdaniel sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $280.71, for a total value of $2,105,325.00. Following the sale, the chief executive officer now owns 234,646 shares in the company, valued at approximately $65,867,478.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Raymond W. Mcdaniel sold 42,905 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $222.18, for a total value of $9,532,632.90. Following the completion of the sale, the chief executive officer now owns 286,151 shares in the company, valued at approximately $63,577,029.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,652 shares of company stock worth $22,786,983. 0.79% of the stock is owned by insiders.

A number of equities analysts have commented on MCO shares. Credit Suisse Group started coverage on shares of Moody’s in a report on Friday, May 29th. They issued an “outperform” rating and a $285.00 target price for the company. Morgan Stanley boosted their target price on shares of Moody’s from $228.00 to $248.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. Oppenheimer started coverage on shares of Moody’s in a report on Monday, May 18th. They issued an “outperform” rating and a $290.00 target price for the company. BMO Capital Markets boosted their target price on shares of Moody’s from $285.00 to $298.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, UBS Group boosted their target price on shares of Moody’s from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $268.00.

About Moody’s

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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