Envestnet Asset Management Inc. Buys 184,297 Shares of Moody's Corporation (NYSE:MCO)

Envestnet Asset Management Inc. grew its stake in Moody's Corporation (NYSE:MCO - Free Report) by 70.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 approximately 0.25% of Moody's worth $208,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its holdings in Moody's by 0.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,571 shares of the business services provider's stock valued at $1,690,000 after purchasing an additional 20 shares during the last quarter. Carson Advisory Inc. boosted its holdings in Moody's by 2.9% in the fourth quarter. Carson Advisory Inc. now owns 741 shares of the business services provider's stock valued at $351,000 after purchasing an additional 21 shares during the last quarter. Summit Financial LLC boosted its holdings in Moody's by 1.4% in the fourth quarter. Summit Financial LLC now owns 1,641 shares of the business services provider's stock valued at $777,000 after purchasing an additional 22 shares during the last quarter. Cornerstone Advisory LLC boosted its holdings in Moody's by 2.2% in the fourth quarter. Cornerstone Advisory LLC now owns 1,143 shares of the business services provider's stock valued at $598,000 after purchasing an additional 25 shares during the last quarter. Finally, Aaron Wealth Advisors LLC lifted its holdings in Moody's by 2.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,205 shares of the business services provider's stock worth $561,000 after buying an additional 25 shares during the last quarter. 92.11% of the stock is currently owned by hedge funds and other institutional investors.

Moody's Stock Performance

MCO stock traded up $4.13 during trading on Thursday, reaching $506.35. 146,911 shares of the company's stock were exchanged, compared to its average volume of 792,448. The company's fifty day moving average price is $481.90 and its 200-day moving average price is $473.33. The firm has a market cap of $91.09 billion, a PE ratio of 43.73, a P/E/G ratio of 2.86 and a beta of 1.38. The company has a quick ratio of 1.56, a current ratio of 1.57 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 announced its earnings results on Tuesday, April 22nd. The business services provider reported $3.83 earnings per share (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 analyst estimates of $1.90 billion. Moody's had a return on equity of 60.37% and a net margin of 29.15%. On average, research analysts expect 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 given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Moody's's payout ratio is currently 32.47%.

Insiders Place Their Bets

In other Moody's news, CEO Robert Fauber sold 415 shares of the company'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 transaction, the chief executive officer directly owned 62,690 shares of the company's stock, valued at $27,445,682. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Moody's from $572.00 to $573.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. decreased their target price on Moody's from $585.00 to $495.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Mizuho assumed coverage on Moody's in a research report on Wednesday, March 12th. They issued a "neutral" rating and a $504.00 target price for the company. UBS Group lifted their target price on Moody's from $445.00 to $515.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Bank of America started coverage on Moody's in a research report on Thursday, April 10th. They issued a "buy" rating and a $530.00 target price for the company. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $519.07.

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.