Pilgrim Partners Asia Pte Ltd Acquires New Holdings in Moody’s Co. (NYSE:MCO)

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Moody’s Co. (NYSE:MCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,100 shares of the business services provider’s stock, valued at approximately $1,941,000. Moody’s accounts for 1.7% of Pilgrim Partners Asia Pte Ltd’s holdings, making the stock its 16th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of Moody’s during the fourth quarter worth about $23,646,000. Prudential PLC increased its holdings in shares of Moody’s by 167.7% in the fourth quarter. Prudential PLC now owns 31,966 shares of the business services provider’s stock valued at $15,132,000 after purchasing an additional 20,024 shares during the period. Quantum Capital Management LLC NJ raised its stake in shares of Moody’s by 0.3% in the fourth quarter. Quantum Capital Management LLC NJ now owns 68,359 shares of the business services provider’s stock worth $32,359,000 after purchasing an additional 174 shares during the last quarter. Arete Wealth Advisors LLC lifted its holdings in shares of Moody’s by 2.0% during the fourth quarter. Arete Wealth Advisors LLC now owns 5,371 shares of the business services provider’s stock worth $2,545,000 after purchasing an additional 106 shares during the period. Finally, Motley Fool Asset Management LLC boosted its position in Moody’s by 13.2% in the fourth quarter. Motley Fool Asset Management LLC now owns 8,298 shares of the business services provider’s stock valued at $3,928,000 after buying an additional 970 shares during the last quarter. Institutional investors own 92.11% of the company’s stock.

Moody’s Trading Down 9.2 %

Shares of MCO opened at $401.74 on Friday. Moody’s Co. has a 12-month low of $360.05 and a 12-month high of $531.93. The firm has a market capitalization of $72.27 billion, a P/E ratio of 35.65, a P/E/G ratio of 2.87 and a beta of 1.34. The firm has a 50-day moving average price of $482.15 and a 200 day moving average price of $478.96. The company has a current ratio of 1.47, a quick ratio of 1.67 and a debt-to-equity ratio of 1.81.

Moody’s (NYSE:MCO) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.35. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. Moody’s had a net margin of 29.03% and a return on equity of 58.94%. Sell-side analysts forecast that Moody’s Co. will post 13.95 EPS for the current year.

Moody’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, February 25th. This is a boost from Moody’s’s previous quarterly dividend of $0.85. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.94%. Moody’s’s dividend payout ratio (DPR) is currently 33.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MCO shares. Barclays reduced their price objective on Moody’s from $570.00 to $520.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley upped their price target on Moody’s from $481.00 to $508.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Mizuho began coverage on Moody’s in a research report on Wednesday, March 12th. They issued a “neutral” rating and a $504.00 price objective for the company. Oppenheimer increased their target price on Moody’s from $543.00 to $545.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup began coverage on shares of Moody’s in a report on Friday, December 20th. They issued a “buy” rating and a $565.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $523.43.

Insider Activity

In related news, CEO Robert Fauber sold 281 shares of Moody’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $494.42, for a total value of $138,932.02. Following the completion of the sale, the chief executive officer now owns 61,894 shares in the company, valued at approximately $30,601,631.48. This trade represents a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 1,258 shares of company stock valued at $610,936. Company insiders own 0.14% of the company’s stock.

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.