Marks Group Wealth Management Inc Boosts Stake in Moody’s Co. (NYSE:MCO)

Marks Group Wealth Management Inc boosted its holdings in shares of Moody’s Co. (NYSE:MCO) by 0.6% in the 2nd quarter, Holdings Channel reports. The fund owned 18,072 shares of the business services provider’s stock after acquiring an additional 109 shares during the quarter. Moody’s accounts for 0.9% of Marks Group Wealth Management Inc’s holdings, making the stock its 15th largest holding. Marks Group Wealth Management Inc’s holdings in Moody’s were worth $6,557,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its position in Moody’s by 650.0% in the second quarter. Arkadios Wealth Advisors now owns 90 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 78 shares during the period. Certified Advisory Corp purchased a new stake in Moody’s in the 1st quarter valued at about $35,000. Allred Capital Management LLC acquired a new position in Moody’s in the first quarter valued at about $36,000. Glassman Wealth Services boosted its stake in Moody’s by 40.4% during the first quarter. Glassman Wealth Services now owns 132 shares of the business services provider’s stock worth $39,000 after buying an additional 38 shares during the period. Finally, Hilton Capital Management LLC acquired a new stake in shares of Moody’s during the first quarter valued at about $60,000. Institutional investors own 90.93% of the company’s stock.

MCO stock traded up $2.68 during trading on Wednesday, hitting $382.83. 7,322 shares of the company’s stock were exchanged, compared to its average volume of 682,814. The business has a 50-day moving average price of $379.38 and a two-hundred day moving average price of $343.34. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 2.67. The stock has a market capitalization of $71.28 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 3.23 and a beta of 1.15. Moody’s Co. has a 52-week low of $253.17 and a 52-week high of $388.81.

Moody’s (NYSE:MCO) last announced its quarterly earnings results on Wednesday, July 28th. The business services provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Moody’s had a net margin of 36.11% and a return on equity of 111.33%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.49 billion. On average, equities research analysts anticipate that Moody’s Co. will post 11.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 20th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, August 19th. Moody’s’s payout ratio is currently 24.43%.

Several analysts recently weighed in on MCO shares. Stifel Nicolaus lifted their target price on shares of Moody’s from $322.00 to $376.00 and gave the company a “hold” rating in a report on Tuesday, July 6th. Morgan Stanley boosted their price objective on Moody’s from $344.00 to $372.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. UBS Group cut Moody’s from a “buy” rating to a “neutral” rating and raised their target price for the company from $383.00 to $392.00 in a report on Thursday, July 29th. Zacks Investment Research raised shares of Moody’s from a “hold” rating to a “buy” rating and set a $395.00 price target on the stock in a research report on Tuesday, June 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Moody’s from $325.00 to $375.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $386.64.

In other Moody’s news, CEO Robert Fauber sold 447 shares of Moody’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $362.50, for a total value of $162,037.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael L. West sold 680 shares of Moody’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $382.35, for a total transaction of $259,998.00. Following the completion of the transaction, the insider now owns 6,501 shares in the company, valued at $2,485,657.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,266 shares of company stock worth $2,371,014. Insiders own 0.50% of the company’s stock.

About Moody’s

Moody’s Corp. engages in the provision of credit ratings, research, tools and analysis to the global capital markets. It operates through the following segments: Moody’s Investors Service (MIS) and Moody’s Analytics (MA). The MIS segment is a credit rating agency, which publishes credit ratings on debt obligations and the entities, including various corporate and governmental obligations, structured finance securities and commercial paper programs.

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Institutional Ownership by Quarter for Moody`s (NYSE:MCO)

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