Envestnet Asset Management Inc. Boosts Stock Position in Moody's Corporation (NYSE:MCO)

Envestnet Asset Management Inc. raised its position in Moody's Corporation (NYSE:MCO - Free Report) by 70.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 447,444 shares of the business services provider's stock after purchasing an additional 184,297 shares during the period. Envestnet Asset Management Inc. owned about 0.25% of Moody's worth $208,370,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCO. McGlone Suttner Wealth Management Inc. boosted its stake in shares of Moody's by 8.6% during the first quarter. McGlone Suttner Wealth Management Inc. now owns 810 shares of the business services provider's stock valued at $377,000 after acquiring an additional 64 shares during the last quarter. Concurrent Investment Advisors LLC boosted 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 acquiring an additional 2,440 shares during the last quarter. Impax Asset Management Group plc acquired a new stake in shares of Moody's during the first quarter valued at $641,000. Catalyst Capital Advisors LLC boosted its stake in shares of Moody's by 45.2% during the first quarter. Catalyst Capital Advisors LLC now owns 527 shares of the business services provider's stock valued at $245,000 after acquiring an additional 164 shares during the last quarter. Finally, SMART Wealth LLC acquired a new stake in shares of Moody's during the first quarter valued at $383,000. Institutional investors and hedge funds own 92.11% of the company's stock.

Analyst Upgrades and Downgrades

MCO has been the topic of a number of analyst reports. Mizuho initiated coverage on Moody's in a research note on Wednesday, March 12th. They set a "neutral" rating and a $504.00 price objective on the stock. BMO Capital Markets decreased their price objective on Moody's from $475.00 to $456.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus decreased 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. Royal Bank Of Canada reissued an "outperform" rating and issued a $550.00 price target on shares of Moody's in a research note on Wednesday, June 4th. Finally, Oppenheimer raised their price target on Moody's from $523.00 to $552.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $519.07.

Moody's Trading Up 0.7%

Shares of Moody's stock traded up $3.68 during trading hours on Thursday, reaching $505.90. The stock had a trading volume of 617,283 shares, compared to its average volume of 766,901. The firm has a 50 day simple moving average of $481.90 and a two-hundred day simple moving average of $473.33. The firm has a market capitalization of $91.01 billion, a price-to-earnings ratio of 43.69, a P/E/G ratio of 2.87 and a beta of 1.38. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 1.77. Moody's Corporation has a 1 year low of $378.71 and a 1 year high of $531.93.

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

Moody's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a dividend of $0.94 per share. 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 currently 32.47%.

Insider Activity at Moody's

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

About Moody's

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.