Corebridge Financial Inc. Has $19.09 Million Holdings in Moody's Corporation $MCO

Key Points

• Corebridge Financial Inc. reduced its stock position in Moody's Corporation by 4.5%, selling 1,911 shares and holding now 40,989 shares worth approximately $19.1 million.
• Moody's reported a beat on earnings with $3.56 EPS for the last quarter, surpassing expectations by $0.17, and achieved revenue of $1.90 billion, above the estimated $1.82 billion.
• The company announced a quarterly dividend of $0.94 per share, with a yield of 0.7%, set to be paid on September 5th.

Corebridge Financial Inc. decreased its holdings in Moody's Corporation (NYSE:MCO - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,989 shares of the business services provider's stock after selling 1,911 shares during the quarter. Corebridge Financial Inc.'s holdings in Moody's were worth $19,088,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of MCO. GAMMA Investing LLC grew its stake in shares of Moody's by 55,808.8% in the first quarter. GAMMA Investing LLC now owns 802,850 shares of the business services provider's stock worth $373,879,000 after purchasing an additional 801,414 shares in the last quarter. Nuveen LLC bought a new position in shares of Moody's in the first quarter worth $328,595,000. Northern Trust Corp grew its stake in shares of Moody's by 20.5% in the fourth quarter. Northern Trust Corp now owns 1,776,729 shares of the business services provider's stock worth $841,050,000 after purchasing an additional 302,453 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Moody's by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,530,582 shares of the business services provider's stock worth $712,777,000 after purchasing an additional 265,389 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Moody's by 142.4% during the first quarter. SG Americas Securities LLC now owns 71,040 shares of the business services provider's stock valued at $33,083,000 after buying an additional 238,569 shares in the last quarter. Institutional investors own 92.11% of the company's stock.

Moody's Trading Up 0.1%

Shares of NYSE MCO traded up $0.36 during mid-day trading on Friday, hitting $509.79. 483,603 shares of the company traded hands, compared to its average volume of 780,288. Moody's Corporation has a 1 year low of $378.71 and a 1 year high of $531.93. The stock has a market capitalization of $91.25 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 3.26 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.70. The business has a 50 day moving average of $505.37 and a two-hundred day moving average of $480.39.

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

Moody's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Moody's's payout ratio is 31.95%.

Insider Buying and Selling

In other Moody's news, CFO Noemie Clemence Heuland sold 897 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $508.24, for a total value of $455,891.28. Following the transaction, the chief financial officer owned 2,148 shares in the company, valued at approximately $1,091,699.52. This represents a 29.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Fauber sold 415 shares of Moody's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $521.45, for a total transaction of $216,401.75. Following the sale, the chief executive officer directly owned 61,618 shares of the company's stock, valued at $32,130,706.10. This trade represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,008 shares of company stock worth $4,599,385 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCO shares. Morgan Stanley raised their target price on Moody's from $493.00 to $498.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $550.00 target price on shares of Moody's in a research note on Wednesday, June 4th. UBS Group raised their target price on Moody's from $445.00 to $515.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Barclays raised their target price on Moody's from $520.00 to $580.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, BMO Capital Markets raised their target price on Moody's from $509.00 to $534.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $538.80.

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.