MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $10.59 Million Position in Moody's Corporation $MCO

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Moody's Corporation by 56.2%, selling 29,200 shares, and now holds 22,737 shares worth approximately $10.6 million.
• Institutions continue to show interest in Moody's, with several firms significantly increasing their positions during the first quarter, resulting in 92.11% of the company's stock being held by institutional investors.
• Moody's recently reported $3.56 earnings per share, surpassing expectations, with a revenue increase of 4.5% year-over-year, and has set fiscal year guidance at 13.500-14.000 EPS.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of Moody's Corporation (NYSE:MCO - Free Report) by 56.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,737 shares of the business services provider's stock after selling 29,200 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Moody's were worth $10,588,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Moody's by 5.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 9,048 shares of the business services provider's stock valued at $4,214,000 after acquiring an additional 471 shares during the period. Horizon Financial Services LLC raised its stake in shares of Moody's by 77,500.0% during the first quarter. Horizon Financial Services LLC now owns 2,328 shares of the business services provider's stock valued at $1,084,000 after purchasing an additional 2,325 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Moody's by 11.9% during the first quarter. Hsbc Holdings PLC now owns 527,518 shares of the business services provider's stock valued at $244,817,000 after purchasing an additional 56,273 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Moody's by 289.8% during the first quarter. Concurrent Investment Advisors LLC now owns 3,282 shares of the business services provider's stock valued at $1,528,000 after purchasing an additional 2,440 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Moody's by 7.9% during the first quarter. Asset Management One Co. Ltd. now owns 69,849 shares of the business services provider's stock valued at $32,528,000 after purchasing an additional 5,095 shares in the last quarter. Institutional investors and hedge funds own 92.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MCO shares. UBS Group lifted their price objective on shares of Moody's from $445.00 to $515.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Moody's from $573.00 to $595.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating and set a $550.00 price objective on shares of Moody's in a research note on Wednesday, June 4th. BMO Capital Markets lifted their price objective on shares of Moody's from $509.00 to $534.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley lifted their price objective on shares of Moody's from $493.00 to $498.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $540.57.

Insider Activity at Moody's

In other news, CEO Robert Fauber sold 415 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $521.45, for a total value of $216,401.75. Following the transaction, the chief executive officer owned 61,618 shares in the company, valued at $32,130,706.10. This represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen T. Tulenko sold 2,120 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $511.18, for a total value of $1,083,701.60. Following the completion of the transaction, the insider owned 5,558 shares in the company, valued at $2,841,138.44. This represents a 27.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,008 shares of company stock valued at $4,599,385. Corporate insiders own 0.14% of the company's stock.

Moody's Price Performance

NYSE MCO traded down $6.38 on Friday, reaching $512.32. The company's stock had a trading volume of 490,129 shares, compared to its average volume of 565,071. Moody's Corporation has a twelve month low of $378.71 and a twelve month high of $531.93. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market cap of $91.71 billion, a PE ratio of 43.53, a PEG ratio of 3.32 and a beta of 1.42. The firm's 50 day moving average is $508.68 and its two-hundred day moving average is $479.72.

Moody's (NYSE:MCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.39 by $0.17. Moody's had a net margin of 29.18% and a return on equity of 60.73%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company earned $3.28 EPS. Moody's's revenue was up 4.5% on a year-over-year basis. Moody's has set its FY 2025 guidance at 13.500-14.000 EPS. As a group, sell-side analysts predict that Moody's Corporation will post 13.95 EPS for the current year.

Moody's Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.76 dividend on an annualized basis and a yield of 0.7%. Moody's's dividend payout ratio is currently 31.95%.

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.