Moody’s Corp. (MCO) Position Increased by Wealth Enhancement Advisory Services LLC
Wealth Enhancement Advisory Services LLC boosted its stake in shares of Moody’s Corp. (NYSE:MCO) by 13.3% during the second quarter, Holdings Channel reports. The institutional investor owned 13,369 shares of the company’s stock after buying an additional 1,565 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Moody’s Corp. were worth $1,253,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allen Investment Management LLC boosted its position in Moody’s Corp. by 31.7% in the first quarter. Allen Investment Management LLC now owns 498,899 shares of the company’s stock valued at $48,174,000 after buying an additional 120,170 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Moody’s Corp. by 0.3% in the first quarter. Legal & General Group Plc now owns 793,284 shares of the company’s stock worth $76,597,000 after buying an additional 2,219 shares during the period. Riverhead Capital Management LLC boosted its position in shares of Moody’s Corp. by 18.9% in the first quarter. Riverhead Capital Management LLC now owns 25,126 shares of the company’s stock worth $2,427,000 after buying an additional 3,993 shares during the period. Capstone Asset Management Co. boosted its position in shares of Moody’s Corp. by 2.3% in the second quarter. Capstone Asset Management Co. now owns 16,902 shares of the company’s stock worth $1,584,000 after buying an additional 375 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Moody’s Corp. during the second quarter worth approximately $19,117,000. Institutional investors and hedge funds own 86.91% of the company’s stock.
Shares of Moody’s Corp. (NYSE:MCO) traded up 0.63% during midday trading on Friday, reaching $107.28. The company’s stock had a trading volume of 323,659 shares. The company has a market capitalization of $20.63 billion, a P/E ratio of 23.96 and a beta of 1.35. The stock’s 50-day moving average is $108.46 and its 200-day moving average is $101.20. Moody’s Corp. has a one year low of $77.76 and a one year high of $110.83.
Moody’s Corp. (NYSE:MCO) last posted its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The business earned $928.90 million during the quarter, compared to analyst estimates of $909.08 million. Moody’s Corp. had a negative return on equity of 273.01% and a net margin of 25.81%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 earnings per share. On average, equities analysts expect that Moody’s Corp. will post $4.63 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Zacks Investment Research cut Moody’s Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $112.00 target price (up previously from $104.00) on shares of Moody’s Corp. in a report on Friday, September 30th. Cantor Fitzgerald set a $105.00 target price on Moody’s Corp. and gave the stock a “hold” rating in a report on Thursday, September 29th. Barclays PLC lifted their target price on Moody’s Corp. from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 21st. Finally, Argus lifted their target price on Moody’s Corp. from $110.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $109.29.
In related news, insider Robert Fauber sold 17,796 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $104.78, for a total value of $1,864,664.88. Following the completion of the transaction, the insider now directly owns 49,527 shares in the company, valued at $5,189,439.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raymond W. Mcdaniel sold 7,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $108.11, for a total value of $756,770.00. Following the completion of the transaction, the insider now owns 227,762 shares of the company’s stock, valued at $24,623,349.82. The disclosure for this sale can be found here. 1.48% of the stock is owned by insiders.
About Moody’s Corp.
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services; quantitative credit risk measures, financial services training and certification services, and outsourced research and analytical services to financial institution customers.
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