1,051 Shares in Moody's Corporation (NYSE:MCO) Acquired by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd has invested approximately $489,000 in Moody's Corporation by acquiring 1,051 shares during the first quarter.
• Moody's stock has decreased by 2.8%, with a current price of $501.30 and a market cap of $89.73 billion.
• The company reported $3.56 EPS for the last quarter, exceeding analyst estimates by $0.17, and announced a quarterly dividend of $0.94 per share.

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Moody's Corporation (NYSE:MCO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,051 shares of the business services provider's stock, valued at approximately $489,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MCO. Hennion & Walsh Asset Management Inc. boosted its position in shares of Moody's by 5.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 9,048 shares of the business services provider's stock valued at $4,214,000 after acquiring an additional 471 shares in the last quarter. Horizon Financial Services LLC grew its stake in shares of Moody's by 77,500.0% in the 1st quarter. Horizon Financial Services LLC now owns 2,328 shares of the business services provider's stock valued at $1,084,000 after purchasing an additional 2,325 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Moody's by 289.8% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,282 shares of the business services provider's stock worth $1,528,000 after buying an additional 2,440 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Moody's by 7.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 69,849 shares of the business services provider's stock worth $32,528,000 after buying an additional 5,095 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Moody's by 10.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 7,259 shares of the business services provider's stock worth $3,381,000 after buying an additional 678 shares during the period. Institutional investors own 92.11% of the company's stock.

Moody's Price Performance

Shares of MCO traded down $3.45 during trading hours on Tuesday, reaching $516.40. 841,015 shares of the stock traded hands, compared to its average volume of 843,316. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.70. The company has a market cap of $92.44 billion, a P/E ratio of 43.87, a price-to-earnings-growth ratio of 3.33 and a beta of 1.40. The company's 50-day moving average price is $493.11 and its two-hundred day moving average price is $477.58. Moody's Corporation has a 52-week low of $378.71 and a 52-week high of $531.93.

Moody's (NYSE:MCO - Get Free Report) last posted 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 firm had revenue of $1.90 billion for 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%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.28 EPS. On average, analysts anticipate that Moody's Corporation will post 13.95 earnings per share for the current year.

Moody's Dividend Announcement

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

Insider Activity at Moody's

In other Moody's news, insider Stephen T. Tulenko sold 2,120 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $511.18, for a total value of $1,083,701.60. Following the completion of the transaction, the insider owned 5,558 shares of the company's stock, valued at approximately $2,841,138.44. This trade represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Fauber sold 415 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $503.40, for a total transaction of $208,911.00. Following the completion of the sale, the chief executive officer owned 61,886 shares in the company, valued at $31,153,412.40. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,593 shares of company stock valued at $4,382,984 over the last three months. Company insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Moody's from $525.00 to $552.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Oppenheimer upped their price target on Moody's from $552.00 to $563.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Bank of America assumed coverage on shares of Moody's in a research report on Thursday, April 10th. They issued a "buy" rating and a $530.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of Moody's from $533.00 to $468.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets upped their target price on Moody's from $509.00 to $534.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Moody's has an average rating of "Moderate Buy" and a consensus price target of $538.80.

Moody's Company 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.