Bank Pictet & Cie Europe AG Has $27.56 Million Holdings in Moody's Corporation $MCO

Key Points

• Bank Pictet & Cie Europe AG reduced its holdings in Moody's Corporation by 21.8% during the second quarter, now owning 54,954 shares valued at approximately $27.56 million.
• Moody's recently reported earnings exceeding analysts' expectations with a quarterly revenue of $1.90 billion, marking a 4.5% year-over-year increase.
• Analysts have set a consensus price target of $540.71 for Moody's stock, with ten analysts rating it as a Buy.

Bank Pictet & Cie Europe AG decreased its holdings in shares of Moody's Corporation (NYSE:MCO - Free Report) by 21.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,954 shares of the business services provider's stock after selling 15,304 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Moody's were worth $27,564,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Wolff Wiese Magana LLC increased its position in Moody's by 1,000.0% during the 1st quarter. Wolff Wiese Magana LLC now owns 55 shares of the business services provider's stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank bought a new stake in shares of Moody's during the first quarter worth $30,000. Central Pacific Bank Trust Division increased its holdings in shares of Moody's by 42.9% during the second quarter. Central Pacific Bank Trust Division now owns 80 shares of the business services provider's stock worth $40,000 after buying an additional 24 shares in the last quarter. Maryland Capital Advisors Inc. bought a new position in shares of Moody's in the 2nd quarter valued at $47,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Moody's by 5,050.0% in the 1st quarter. Golden State Wealth Management LLC now owns 103 shares of the business services provider's stock valued at $48,000 after acquiring an additional 101 shares during the last quarter. 92.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Moody's

In other Moody's news, CFO Noemie Clemence Heuland sold 897 shares of Moody's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $508.24, for a total value of $455,891.28. Following the completion of the sale, the chief financial officer directly owned 2,148 shares in the company, valued at approximately $1,091,699.52. The trade was a 29.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Fauber sold 415 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $512.65, for a total value of $212,749.75. Following the transaction, the chief executive officer owned 61,350 shares in the company, valued at $31,451,077.50. The trade was a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,423 shares of company stock valued at $4,812,135 over the last ninety days. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCO. Oppenheimer boosted their price objective on Moody's from $552.00 to $563.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. BMO Capital Markets boosted their price target on Moody's from $509.00 to $534.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Mizuho raised their price objective on shares of Moody's from $496.00 to $532.00 and gave the company a "neutral" rating in a report on Friday, July 25th. UBS Group boosted their target price on shares of Moody's from $445.00 to $515.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $550.00 price target on shares of Moody's in a research note on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $540.71.

Moody's Stock Down 0.4%

Shares of NYSE MCO opened at $472.79 on Friday. The company's 50 day moving average price is $506.56 and its 200-day moving average price is $480.29. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.75 and a current ratio of 1.75. Moody's Corporation has a 52-week low of $378.71 and a 52-week high of $531.93. The company has a market capitalization of $84.63 billion, a P/E ratio of 40.17, a price-to-earnings-growth ratio of 3.04 and a beta of 1.42.

Moody's (NYSE:MCO - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.39 by $0.17. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.82 billion. Moody's had a net margin of 29.18% and a return on equity of 60.73%. Moody's's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.28 earnings per share. Moody's has set its FY 2025 guidance at 13.500-14.000 EPS. Equities analysts forecast that Moody's Corporation will post 13.95 earnings per share for the current year.

Moody's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were given a dividend of $0.94 per share. The ex-dividend date was Friday, August 15th. This represents a $3.76 annualized dividend and a dividend yield of 0.8%. Moody's's dividend payout ratio is presently 31.95%.

Moody's Profile

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Analytics and Moody's Investors Services. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.

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