Corebridge Financial Inc. Sells 1,032 Shares of Moody's Co. (NYSE:MCO)

Corebridge Financial Inc. decreased its stake in shares of Moody's Co. (NYSE:MCO - Free Report) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,900 shares of the business services provider's stock after selling 1,032 shares during the period. Corebridge Financial Inc.'s holdings in Moody's were worth $20,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MCO. Larson Financial Group LLC boosted its position in Moody's by 272.2% during the 3rd quarter. Larson Financial Group LLC now owns 67 shares of the business services provider's stock valued at $32,000 after acquiring an additional 49 shares in the last quarter. OFI Invest Asset Management purchased a new position in Moody's during the 4th quarter valued at about $41,000. Asset Planning Inc bought a new stake in Moody's during the fourth quarter worth about $42,000. Albion Financial Group UT bought a new stake in Moody's during the fourth quarter worth about $45,000. Finally, Activest Wealth Management purchased a new stake in Moody's in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 92.11% of the company's stock.

Moody's Stock Performance

MCO stock traded down $7.89 during trading on Friday, reaching $461.09. The stock had a trading volume of 535,573 shares, compared to its average volume of 744,111. The company has a current ratio of 1.47, a quick ratio of 1.67 and a debt-to-equity ratio of 1.81. The firm has a market cap of $82.95 billion, a PE ratio of 40.91, a PEG ratio of 2.87 and a beta of 1.34. The stock's 50 day moving average is $485.56 and its two-hundred day moving average is $480.00. Moody's Co. has a 52 week low of $360.05 and a 52 week high of $531.93.

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Moody's (NYSE:MCO - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.35. Moody's had a net margin of 29.03% and a return on equity of 58.94%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.70 billion. As a group, equities analysts anticipate that Moody's Co. will post 13.95 earnings per share 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 $0.94 dividend. This is a boost from Moody's's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $3.76 dividend on an annualized basis and a yield of 0.82%. Moody's's dividend payout ratio is presently 33.36%.

Analyst Ratings Changes

MCO has been the topic of a number of analyst reports. StockNews.com cut Moody's from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Morgan Stanley boosted their target price on Moody's from $481.00 to $508.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Oppenheimer raised their price target on Moody's from $543.00 to $545.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Stifel Nicolaus increased their price objective on shares of Moody's from $459.00 to $533.00 and gave the company a "hold" rating in a research report on Friday, February 14th. Finally, BMO Capital Markets lifted their target price on shares of Moody's from $481.00 to $531.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Moody's currently has a consensus rating of "Hold" and a consensus price target of $527.00.

Insider Transactions at Moody's

In other Moody's news, CEO Robert Fauber sold 281 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $473.62, for a total transaction of $133,087.22. Following the sale, the chief executive officer now owns 61,894 shares in the company, valued at approximately $29,314,236.28. This trade represents a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,124 shares of company stock valued at $552,193 over the last quarter. 0.14% of the stock is currently owned by company insiders.

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.