Moody’s Co. (NYSE:MCO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Moody’s Co. (NYSE:MCO) by 7.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 156,183 shares of the business services provider’s stock after selling 11,799 shares during the period. PNC Financial Services Group Inc.’s holdings in Moody’s were worth $74,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in Moody’s during the 1st quarter worth approximately $27,000. Planning Capital Management Corp lifted its position in Moody’s by 566.7% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the business services provider’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. Versant Capital Management Inc increased its holdings in Moody’s by 114.3% during the 2nd quarter. Versant Capital Management Inc now owns 75 shares of the business services provider’s stock worth $32,000 after purchasing an additional 40 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in Moody’s during the 2nd quarter worth approximately $35,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Moody’s during the 3rd quarter worth approximately $36,000. 92.11% of the stock is owned by institutional investors and hedge funds.

Moody’s Trading Down 0.7 %

NYSE:MCO opened at $468.72 on Wednesday. Moody’s Co. has a 12-month low of $355.77 and a 12-month high of $495.10. The firm has a market capitalization of $84.93 billion, a P/E ratio of 42.81, a P/E/G ratio of 3.08 and a beta of 1.29. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.67 and a quick ratio of 1.67. The business has a 50 day simple moving average of $473.45 and a 200 day simple moving average of $449.84.

Moody’s (NYSE:MCO) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.32. Moody’s had a return on equity of 57.97% and a net margin of 29.05%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts predict that Moody’s Co. will post 12.07 EPS for the current year.

Moody’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.40 dividend on an annualized basis and a yield of 0.73%. Moody’s’s dividend payout ratio (DPR) is presently 31.05%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MCO. Royal Bank of Canada lifted their price objective on Moody’s from $450.00 to $475.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their price target on Moody’s from $451.00 to $462.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Evercore ISI assumed coverage on Moody’s in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $521.00 price target for the company. Wells Fargo & Company boosted their price target on Moody’s from $510.00 to $550.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, UBS Group boosted their price target on Moody’s from $495.00 to $510.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $500.00.

Insiders Place Their Bets

In other news, CEO Robert Fauber sold 281 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $478.99, for a total value of $134,596.19. Following the completion of the sale, the chief executive officer now owns 61,354 shares in the company, valued at $29,387,952.46. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Caroline Sullivan sold 1,681 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $462.40, for a total value of $777,294.40. Following the completion of the sale, the senior vice president now owns 1,415 shares of the company’s stock, valued at approximately $654,296. This trade represents a 54.30 % decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.

Moody’s Company 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.