HighTower Advisors LLC reduced its position in Moody’s Corporation (NYSE:MCO – Free Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,004 shares of the business services provider’s stock after selling 9,343 shares during the period. HighTower Advisors LLC’s holdings in Moody’s were worth $121,584,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCO. Newbridge Financial Services Group Inc. purchased a new position in shares of Moody’s during the 2nd quarter valued at approximately $25,000. Caitlin John LLC bought a new position in Moody’s during the third quarter worth $27,000. Ares Financial Consulting LLC bought a new position in Moody’s during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in Moody’s during the third quarter worth $30,000. Finally, Wealth Watch Advisors INC bought a new position in Moody’s during the third quarter worth $32,000. 92.11% of the stock is owned by hedge funds and other institutional investors.
Moody’s Price Performance
Shares of NYSE:MCO opened at $434.69 on Wednesday. The company’s fifty day moving average is $443.96 and its two-hundred day moving average is $473.29. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.03. Moody’s Corporation has a 12-month low of $402.28 and a 12-month high of $546.88. The company has a market cap of $75.94 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37.
Moody’s Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be issued a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 0.9%. Moody’s’s dividend payout ratio is currently 29.53%.
Analyst Ratings Changes
Several brokerages recently issued reports on MCO. Wolfe Research restated an “outperform” rating and set a $535.00 price objective on shares of Moody’s in a research note on Thursday, April 23rd. Barclays cut their target price on shares of Moody’s from $580.00 to $550.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Mizuho cut their target price on shares of Moody’s from $524.00 to $521.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. UBS Group cut their target price on shares of Moody’s from $515.00 to $490.00 and set a “neutral” rating on the stock in a report on Thursday, February 19th. Finally, Evercore reissued an “outperform” rating and issued a $610.00 target price on shares of Moody’s in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $544.29.
Read Our Latest Analysis on Moody’s
Insider Buying and Selling
In related news, CEO Robert Fauber sold 5,213 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $456.71, for a total value of $2,380,829.23. Following the transaction, the chief executive officer owned 75,789 shares in the company, valued at approximately $34,613,594.19. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Richard G. Steele sold 375 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $456.71, for a total transaction of $171,266.25. Following the transaction, the senior vice president directly owned 2,459 shares in the company, valued at $1,123,049.89. The trade was a 13.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,680 shares of company stock worth $3,952,188 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.
About Moody’s
Moody’s Corporation is a global provider of credit ratings, research, data and analytics that support financial decision-making and transparency in capital markets. The company traces its origins to the early 20th century when financial analyst John Moody began publishing credit information; today Moody’s is headquartered in New York and serves a broad set of market participants including investors, issuers, financial institutions, corporations, governments and regulators.
Moody’s operates primarily through two complementary businesses.
Featured Articles
- Five stocks we like better than Moody’s
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
- Brady Corp Wires Up a Massive AI-Powered Breakout
- Why Home Depot’s Sell-Off Could Become a Huge Opportunity
Want to see what other hedge funds are holding MCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moody’s Corporation (NYSE:MCO – Free Report).
Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.
