Principal Financial Group Inc. trimmed its position in Moody’s Co. (NYSE:MCO) by 10.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,482,106 shares of the business services provider’s stock after selling 172,418 shares during the quarter. Principal Financial Group Inc.’s holdings in Moody’s were worth $351,867,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of MCO. Windacre Partnership LLC grew its position in shares of Moody’s by 9.1% in the 3rd quarter. Windacre Partnership LLC now owns 1,791,000 shares of the business services provider’s stock worth $366,851,000 after acquiring an additional 149,000 shares in the last quarter. National Pension Service lifted its stake in Moody’s by 5.0% during the third quarter. National Pension Service now owns 222,986 shares of the business services provider’s stock worth $45,674,000 after purchasing an additional 10,545 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Moody’s by 8.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 196,175 shares of the business services provider’s stock worth $40,183,000 after purchasing an additional 15,105 shares during the last quarter. Virtu Financial LLC lifted its stake in Moody’s by 207.4% during the third quarter. Virtu Financial LLC now owns 7,101 shares of the business services provider’s stock worth $1,455,000 after purchasing an additional 4,791 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Moody’s in the third quarter worth $7,269,000. Institutional investors and hedge funds own 90.50% of the company’s stock.
In other Moody’s news, EVP John J. Goggins sold 7,673 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $259.88, for a total value of $1,994,059.24. Following the sale, the executive vice president now owns 49,578 shares in the company, valued at $12,884,330.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John J. Goggins sold 8,508 shares of Moody’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $237.08, for a total value of $2,017,076.64. Following the sale, the executive vice president now directly owns 61,934 shares in the company, valued at approximately $14,683,312.72. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.
MCO stock traded down $0.27 during mid-day trading on Monday, reaching $267.23. The company had a trading volume of 317,548 shares, compared to its average volume of 667,187. Moody’s Co. has a one year low of $159.03 and a one year high of $269.93. The stock has a market capitalization of $50.50 billion, a P/E ratio of 39.13, a P/E/G ratio of 2.96 and a beta of 1.21. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 7.50. The stock’s 50-day simple moving average is $250.00 and its two-hundred day simple moving average is $224.73.
Several analysts have weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $228.00 target price on shares of Moody’s in a research note on Thursday, January 2nd. Morgan Stanley upgraded shares of Moody’s from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $181.00 to $224.00 in a research report on Tuesday, January 7th. Zacks Investment Research raised shares of Moody’s from a “hold” rating to a “buy” rating and set a $240.00 price target for the company in a report on Wednesday, November 20th. BMO Capital Markets raised shares of Moody’s from a “market perform” rating to a “buy” rating and set a $281.00 price objective for the company in a research report on Monday, January 27th. Finally, Barclays reiterated a “buy” rating and set a $260.00 price objective on shares of Moody’s in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Moody’s currently has a consensus rating of “Buy” and an average price target of $231.82.
Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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