Frank Rimerman Advisors LLC Makes New Investment in Moody’s Co. (NYSE:MCO)

Frank Rimerman Advisors LLC purchased a new stake in Moody’s Co. (NYSE:MCO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,264 shares of the business services provider’s stock, valued at approximately $1,795,000.

Other hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. purchased a new position in Moody’s during the 1st quarter valued at about $25,000. New Covenant Trust Company N.A. purchased a new position in Moody’s during the first quarter valued at approximately $27,000. Versant Capital Management Inc increased its holdings in Moody’s by 114.3% during the 2nd quarter. Versant Capital Management Inc now owns 75 shares of the business services provider’s stock worth $32,000 after acquiring an additional 40 shares during the period. Rise Advisors LLC purchased a new stake in Moody’s in the 1st quarter worth approximately $35,000. Finally, Y.D. More Investments Ltd bought a new position in Moody’s in the 2nd quarter valued at $35,000. 92.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Moody’s

In other Moody’s news, insider Stephen T. Tulenko sold 569 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $444.26, for a total value of $252,783.94. Following the transaction, the insider now owns 8,147 shares in the company, valued at $3,619,386.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Stephen T. Tulenko sold 569 shares of Moody’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $444.26, for a total value of $252,783.94. Following the sale, the insider now directly owns 8,147 shares in the company, valued at approximately $3,619,386.22. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen T. Tulenko sold 500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $464.06, for a total value of $232,030.00. Following the completion of the sale, the insider now directly owns 6,647 shares of the company’s stock, valued at approximately $3,084,606.82. The disclosure for this sale can be found here. Insiders sold 2,931 shares of company stock worth $1,332,825 in the last three months. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MCO shares. The Goldman Sachs Group increased their price objective on Moody’s from $460.00 to $514.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Barclays raised their price target on Moody’s from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Friday, September 13th. StockNews.com lowered Moody’s from a “buy” rating to a “hold” rating in a report on Friday, September 13th. UBS Group raised their target price on shares of Moody’s from $455.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company raised shares of Moody’s to a “strong-buy” rating in a research note on Tuesday, August 13th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Moody’s has an average rating of “Moderate Buy” and an average target price of $477.08.

Moody’s Price Performance

Shares of NYSE:MCO opened at $494.66 on Monday. The company’s fifty day moving average is $467.84 and its 200 day moving average is $424.10. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.59. Moody’s Co. has a 52 week low of $298.86 and a 52 week high of $495.10. The stock has a market cap of $90.32 billion, a PE ratio of 54.00, a PEG ratio of 2.98 and a beta of 1.29.

Moody’s (NYSE:MCO) last released its earnings results on Tuesday, July 23rd. The business services provider reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.22. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. Moody’s had a return on equity of 57.03% and a net margin of 28.34%. Moody’s’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.30 EPS. Research analysts anticipate that Moody’s Co. will post 11.36 earnings per share for the current year.

Moody’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, August 16th. Moody’s’s payout ratio is 37.12%.

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.