CIBC Asset Management Inc Boosts Position in Moody’s Co. (NYSE:MCO)

CIBC Asset Management Inc boosted its position in shares of Moody’s Co. (NYSE:MCO) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,733 shares of the business services provider’s stock after acquiring an additional 1,735 shares during the quarter. CIBC Asset Management Inc’s holdings in Moody’s were worth $11,263,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in Moody’s during the first quarter valued at about $27,000. Planning Capital Management Corp raised its position in Moody’s by 566.7% during the third quarter. Planning Capital Management Corp now owns 60 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the period. Versant Capital Management Inc raised its position in Moody’s by 114.3% during the second quarter. Versant Capital Management Inc now owns 75 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 40 shares during the period. Y.D. More Investments Ltd purchased a new position in Moody’s during the 2nd quarter worth $35,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Moody’s during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 92.11% of the company’s stock.

Moody’s Stock Performance

NYSE MCO opened at $473.31 on Friday. The stock has a 50-day simple moving average of $473.97 and a two-hundred day simple moving average of $448.02. The firm has a market capitalization of $85.76 billion, a P/E ratio of 43.22, a PEG ratio of 3.12 and a beta of 1.29. Moody’s Co. has a fifty-two week low of $352.17 and a fifty-two week high of $495.10. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.67 and a current ratio of 1.67.

Moody’s (NYSE:MCO) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.32. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.71 billion. Moody’s had a return on equity of 57.97% and a net margin of 29.05%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. On average, equities analysts forecast that Moody’s Co. will post 12.07 earnings per share for the current year.

Moody’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.85 dividend. The ex-dividend date is Friday, November 22nd. This represents a $3.40 annualized dividend and a dividend yield of 0.72%. Moody’s’s dividend payout ratio is presently 31.05%.

Insider Activity at Moody’s

In related news, SVP Caroline Sullivan sold 1,681 shares of Moody’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $462.40, for a total value of $777,294.40. Following the completion of the transaction, the senior vice president now owns 1,415 shares in the company, valued at $654,296. The trade was a 54.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group raised their price objective on Moody’s from $495.00 to $510.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Moody’s from $450.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com cut Moody’s from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Raymond James cut Moody’s from a “market perform” rating to an “underperform” rating in a research report on Monday, September 23rd. Finally, Oppenheimer raised their price objective on Moody’s from $536.00 to $543.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Moody’s presently has a consensus rating of “Hold” and an average price target of $500.00.

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.