Concurrent Investment Advisors LLC Acquires 2,440 Shares of Moody's Corporation (NYSE:MCO)

Concurrent Investment Advisors LLC grew its stake in Moody's Corporation (NYSE:MCO - Free Report) by 289.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,282 shares of the business services provider's stock after buying an additional 2,440 shares during the period. Concurrent Investment Advisors LLC's holdings in Moody's were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its position in shares of Moody's by 1,000.0% in the 1st quarter. Wolff Wiese Magana LLC now owns 55 shares of the business services provider's stock worth $26,000 after purchasing an additional 50 shares during the period. OFI Invest Asset Management bought a new position in Moody's during the fourth quarter worth $41,000. Golden State Wealth Management LLC lifted its holdings in Moody's by 5,050.0% in the first quarter. Golden State Wealth Management LLC now owns 103 shares of the business services provider's stock valued at $48,000 after buying an additional 101 shares during the period. Alpine Bank Wealth Management bought a new stake in Moody's during the first quarter valued at $49,000. Finally, Larson Financial Group LLC grew its holdings in Moody's by 80.6% during the 4th quarter. Larson Financial Group LLC now owns 121 shares of the business services provider's stock worth $57,000 after acquiring an additional 54 shares during the period. 92.11% of the stock is currently owned by institutional investors.

Moody's Stock Performance

Shares of Moody's stock traded up $5.97 during trading hours on Thursday, hitting $508.19. 255,105 shares of the company's stock traded hands, compared to its average volume of 764,773. The stock has a market capitalization of $91.42 billion, a price-to-earnings ratio of 43.87, a PEG ratio of 2.86 and a beta of 1.38. Moody's Corporation has a 12-month low of $378.71 and a 12-month high of $531.93. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.57 and a quick ratio of 1.56. The company has a fifty day simple moving average of $481.90 and a 200-day simple moving average of $473.33.

Moody's (NYSE:MCO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The business services provider reported $3.83 EPS for the quarter, topping the consensus estimate of $3.58 by $0.25. Moody's had a net margin of 29.15% and a return on equity of 60.37%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. Equities research analysts anticipate that Moody's Corporation will post 13.95 EPS for the current fiscal year.

Moody's Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $3.76 annualized dividend and a dividend yield of 0.74%. Moody's's payout ratio is presently 32.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCO. Robert W. Baird lowered their target price on Moody's from $575.00 to $525.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Bank of America began coverage on shares of Moody's in a report on Thursday, April 10th. They issued a "buy" rating and a $530.00 price target for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $550.00 price objective on shares of Moody's in a report on Wednesday, June 4th. BMO Capital Markets reduced their target price on Moody's from $475.00 to $456.00 and set a "market perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus dropped their price target on Moody's from $533.00 to $468.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Moody's currently has a consensus rating of "Moderate Buy" and an average price target of $519.07.

Insider Activity at Moody's

In related news, CEO Robert Fauber sold 415 shares of Moody's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $437.80, for a total value of $181,687.00. Following the completion of the sale, the chief executive officer owned 62,690 shares of the company's stock, valued at approximately $27,445,682. This trade represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate 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.