United Capital Financial Advisers LLC Boosts Stake in Moody’s Co. (NYSE:MCO)
United Capital Financial Advisers LLC grew its position in Moody’s Co. (NYSE:MCO) by 967.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 44,977 shares of the business services provider’s stock after acquiring an additional 40,763 shares during the period. United Capital Financial Advisers LLC’s holdings in Moody’s were worth $8,784,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Krane Funds Advisors LLC purchased a new stake in Moody’s during the 2nd quarter worth about $25,000. Capital Investment Advisory Services LLC increased its position in Moody’s by 203.6% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock worth $34,000 after purchasing an additional 112 shares during the period. Meeder Asset Management Inc. acquired a new position in Moody’s during the 2nd quarter worth approximately $37,000. Resources Investment Advisors Inc. acquired a new stake in shares of Moody’s in the 1st quarter worth approximately $40,000. Finally, Ibex Wealth Advisors acquired a new stake in shares of Moody’s in the 2nd quarter worth approximately $41,000. 90.18% of the stock is owned by institutional investors and hedge funds.
Moody’s stock traded down $0.70 during trading hours on Friday, hitting $212.28. 645,663 shares of the stock were exchanged, compared to its average volume of 675,238. The company has a debt-to-equity ratio of 10.04, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a market capitalization of $40.30 billion, a P/E ratio of 28.73, a P/E/G ratio of 2.65 and a beta of 1.24. Moody’s Co. has a 12 month low of $129.26 and a 12 month high of $222.85. The business’s 50-day moving average is $212.49 and its two-hundred day moving average is $194.33.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.94%. The ex-dividend date was Monday, August 19th. Moody’s’s payout ratio is presently 27.06%.
In other news, insider Mark Almeida sold 27,236 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.06, for a total transaction of $5,639,486.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Fauber sold 3,721 shares of Moody’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $212.71, for a total transaction of $791,493.91. Following the completion of the sale, the insider now owns 48,382 shares of the company’s stock, valued at approximately $10,291,335.22. The disclosure for this sale can be found here. Insiders have sold 45,957 shares of company stock valued at $9,516,105 in the last three months. 0.90% of the stock is owned by insiders.
A number of equities research analysts have commented on MCO shares. Stifel Nicolaus increased their target price on Moody’s from $214.00 to $228.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Argus increased their target price on Moody’s to $240.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays reiterated a “buy” rating on shares of Moody’s in a report on Sunday, August 4th. JPMorgan Chase & Co. raised their target price on Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley raised their target price on Moody’s from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $201.09.
Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
See Also: Growth Stocks
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 Co. (NYSE:MCO).
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.