BLI Banque de Luxembourg Investments has increased its stake in Moody’s Corporation, raising its holdings by 6.4% during the second quarter of 2023. As reported in its latest Form 13F filed with the Securities and Exchange Commission, BLI now owns 53,080 shares of the analytics and financial services provider, following the acquisition of an additional 3,180 shares. The total value of BLI’s holdings in Moody’s stands at approximately $25.9 million.
Several other institutional investors have also made adjustments to their positions in Moody’s. For example, Johnson Financial Group Inc. purchased a new stake valued at $28,000 in the second quarter, while the Saudi Central Bank acquired shares worth $30,000 in the first quarter. Additionally, ORG Partners LLC increased its holdings by 50%, now owning 66 shares valued at $33,000 after buying an extra 22 shares. Similarly, Central Pacific Bank Trust Division boosted its stake by 42.9%, acquiring 80 shares worth $40,000.
As of now, institutional investors collectively hold approximately 92.11% of Moody’s stock.
Moody’s Stock Performance and Dividend Announcement
On the trading front, shares of Moody’s Corporation (NYSE: MCO) opened at $490.85 on Friday. Over the past year, the stock has fluctuated between a low of $378.71 and a high of $531.93. Moody’s currently has a market capitalization of $87.57 billion, a price-to-earnings (PE) ratio of 39.46, and a beta of 1.40. The company’s average 50-day simple moving average is $481.77, while the 200-day moving average is $492.15.
In addition, Moody’s has declared a quarterly dividend of $0.94 per share, set to be paid on December 12, 2023. Investors holding shares as of the record date of November 21, 2023 will receive this dividend, which translates to an annualized yield of 0.8%. The company’s dividend payout ratio currently stands at 30.23%.
Insider Trading Activity
In related news, Moody’s CEO Robert Fauber sold 1,167 shares on November 3, 2023, at an average price of $478.95, amounting to a total transaction of approximately $558,934.65. Following this transaction, Fauber retains 61,082 shares, valued at around $29.26 million. This sale represents a 1.87% reduction in his overall position.
In the last three months, corporate insiders have sold a total of 2,569 shares worth approximately $1.25 million. Currently, insiders own approximately 0.14% of the company’s stock.
Analysts’ Outlook on Moody’s
Moody’s has attracted significant attention from analysts, with various research firms updating their ratings. Recently, Wall Street Zen downgraded Moody’s from a “buy” to a “hold” rating. Stifel Nicolaus adjusted its price target from $526.00 to $471.00 while maintaining a “hold” rating. Conversely, Raymond James Financial upgraded its recommendation from “underperform” to “market perform.”
Looking ahead, Mizuho increased its price target from $539.00 to $550.00, advising a neutral rating for the stock. Presently, one analyst rates the stock as a Strong Buy, twelve suggest a Buy rating, and six have issued a Hold rating. According to data from MarketBeat, Moody’s holds a consensus rating of “Moderate Buy” with an average price target of $543.07.
Moody’s Corporation operates globally as a leading risk assessment firm, functioning through its two primary segments: Moody’s Analytics and Moody’s Investors Services. The Analytics segment focuses on providing a variety of products and services that assist institutional participants in managing financial market risks.
